Accountancy - Nominal Codes

~J~ · 20 Jan 2007 at 15:53

Does anyone here work in the accountancy business and know the answer to these 2 questions:

First, if I have a nominal code of ABCD-1234, what the correct terminology is for each 'segment' of the code?

Secondly, is there a standard format for nominal codes, as I've seen companies have 1 'segment', 2, 3 all of different variances (numbers, letters, both).

Totally out of the blue I know, but hey, it's general discussion!!

cookoid_0 · 20 Jan 2007 at 16:22

Theres no standardisation of nominal ledger codes across accountancy. More likely it will depend on the computer system you are using or even the whims of the team who first installed it.

cookoid_0 · 20 Jan 2007 at 16:25

For computer system I meant software package (these days)

Biohazard · 20 Jan 2007 at 16:29

Yes, those codes will be gobbledy gook to most people unless you have worked with that system.

~J~ · 20 Jan 2007 at 17:03

Thanks for the help folks, appreciate it, glad to know there's not a standard as it makes my life easier. Cheers.