this presentation is for the aat level 2 unit introduction to bookkeeping which covers sage the ledges in this presentation you will be shown how a new nominal code is created in sage business cloud and how an existing nominal code can be amended sage uses a numerical coding system and each nominal code consists of four digits every account has a unique code sage comes pre-programmed with a list of commonly used nominal accounts with pre-assigned codes the user can add to or in some cases amend this list however as you will see in a short while care must be taken when making changes to the list as each nominal code sits within a specified range and these ranges link to the financial statements the list of nominal codes in sage is referred to as the chart of accounts say it refers to the individual accounts within the nominal ledger as ledgers a little later in this presentation you may hear my colleague refer to the ledges please be aware that this means an account within the nominal ledger you will have seen this table in your learning materials but it is worthwhile reminding ourselves of the various ranges into which the nominal ledger codes in sage are placed it is very important said to select the correct code in the correct range when posting to sage as my colleague will explain in her presentation in a little while you will now see a short recording of my colleague setting up a new nominal ledger account in sage business cloud in this video we're going to look at how to post a nominal ledger into the chart of accounts um we know that a nominal ledger is the same as a tier count within manual accounts but here we're going to look at it within the sage software so the first thing that we need to do is go to the settings tab at the top click into there the following screen will appear and this is where we set up all of our bits and pieces within our business so the one that we're looking at today is financial settings and chart of accounts now the chart of accounts shows all of the ledgers that we have presently set up so we can see there's lots of them so the first thing to do is to look to see the code that we are looking for is set up now we'll let we know that we're looking to set up a postage code and we don't have anything available there we also can see that we've chosen code from the notes we've chosen code 7501 which is not there so we're good to set this up so from here if we scroll back to the top of the screen we'll see a blue new ledger account if we click onto this we we're given a list of options that we can set up to name and create our account the first thing we're going to do is type what the account ledger name is and it's going to be the postage account and i'm going to want it to be displayed as posted on the screen as well so these two don't necessarily have to be the same but the display name needs to be something that we can recognize the nominal code that i've put in the notes is 7501 and we've already checked that that's not been taken so we're happy that not only does that come within the expenses range of seven thousands within within sage but it hasn't got something already assigned to it the category we're going to select is overheads because that's what it is but we can see there's lots of different categories along this list that we could select so it's really important to get it in the right category because this is where it will fall within the statements category group automatically is populated as expenditure and we're going to put that it's got 20 percent fat rate because we can override the vat rate within any postings that we make most post postage charges are exempt from that but just in case we're going to leave it at 20 so that we can override any of that calculations back to zero it when we're posting something through the system so as we can see it's included in the chart of accounts at the top so it'll appear in our chart of accounts if we were to print it off we've got our postage and we've got our display name so we're happy that that's set up we've got a nominal code in the expenses range it's in the overheads category standard rated vat and we're going to be able to see our transaction if we make any because we've ticked the relevant visibility screens now bank is not used because there are only certain things and you may come across this we don't need to worry about the bank sales is not used because it's clearly not a sale because we're not selling postage we're purchasing it and we're going to pay for it we're never likely to get a receipt and the other two elements are irrelevant so once we're happy with everything in our new ledger screen we're just going to click save sage will do its thing and it'll tell us that the ledger account has been successfully created now if i go back to my chart of accounts and scroll down to where i need it to be we can quite happily see postage as an overhead and it's all there present and correct and ready to be posted too you will now see a short recording of my colleague amending an existing nominal ledger account in sage business cloud in this video we're going to look at editing a nominal ledger a nominal code and then we're going to look at the chart of accounts and how to export those into a csv file the first thing is we're going to replicate what we've just done when we created a new ledger account by going into the settings tab once the settings tab has been clicked into the settings screen will appear and here is where you can amend all the details within your business should you need to we're going to find the financial settings tab again and click on chart of accounts and this will bring up our chart of accounts with all our nominal ledgers within it we need to find the 7501 ledger postage that we previously created because we need to change the name of it there's the postage tab if we required if we need to edit any of the nominal ledgers if they're highlighted in blue once the line is highlighted in blue as you can see is happening as i scroll down we can click on that ledger and it will bring up the ledger settings tab where we can override any of the details we wish to so i need to change my ledge name to postage and other services i'm going to replicate that underneath as the display name and i'm just going to double check everything else so it's included in chart of accounts correct nominal code correct category correct fact rate and correct visibility and then i'm going to click save and we can see in our chart of accounts that that's changed over and it's now called message and other services which is now correct as you can see in the videos sage business cloud accounting is pretty intuitive it helps to guide the user through each of the steps by following the online pointers we can avoid errors in where we post our nominal codes to such as posting the postage expense 7501 to the 7000 code range this ensures it then appears in the correct place within the correct financial statement however it is easy to get this bit incorrect and set up a code with the wrong nominal code and range resulting in the financial statements reporting incorrect information during your study so far you will have heard the terms statement of profit or loss and statement of financial position you should also be starting to have a very basic understanding of both these statements using sage business cloud accounting we can easily create both of these statements for the financial period we are interested in remember each section in both statements are created from the nominal code you have set up within the software hence why it is important to get these codes correct you will cover both statements in depth at level 3. a key benefit of sage business cloud and indeed most newer accounting software packages is the ability to import and export data to and from the software at this stage of your studies an awareness of this capability is all that is required to give you an idea of how easy it is to export data from the sage business cloud my colleague will now show you how to export the chart of accounts in csv format in this next recording we are going to be looking at how to export the chart of accounts using a csv file it basically exports the data of our chart of accounts into excel so the first thing to note is we go back into settings and then financial settings and chart of accounts to bring it back up on screen and there we have our chart of accounts to the right hand side of the screen where it says new ledger there's a little white arrow by the side of it if i hover over the white arrow it tells us to export accounts and if i click into there it will run the report in the background and i should soon receive notification that the chart of accounts report is ready it's telling me it's being generated at the top of the screen which you can't see from the screenshot that i'm taking it is however ready so i'm going to download the file and as we can see it's told me there it is and i'm going to open the file as you see excel has opened and there is our chart of accounts so if we just make sure that the lines are wide enough and we can see all the other details on that one as well and we can see all the elements that were on screen on sage but within an excel file and that's ready to be manipulated using excel in this next recording we this concludes the presentation thank you for watching we hope you found it useful and informative remember you are able to contact your tutor at any time through the forum on the student community should you have any questions or queries you