Hi Kamila,

Firstly, thank you for your feedback, we are constantly looking for ways to improve our products to benefit our customers, so all requests are appreciated.

At the moment, there are no nominal codes automatically available for factoring fees, discount charged or factoring bank account. However there is a nominal code 7916 to record Debt factoring interest in Final Accounts Online.

When creating a new nominal code, they must be based on an existing code so that they can be included in the correct place in the accounts.

Although we cannot advise customers on nominal codes and groups to use to prepare the financial statements, as per common practice, you can create new nominal codes for factoring fees and factoring charges based on the nominal group ‘Other charges’ and factoring bank account based on the nominal group ‘Cash at bank and in hand’.

We hope this helps and we will record this as a future improvement so these nominal codes can be populated automatically.

Kind Regards

Hi Kamila,

Firstly, thank you for your feedback, we are constantly looking for ways to improve our products to benefit our customers, so all requests are appreciated.

At the moment, there are no nominal codes automatically available for factoring fees, discount charged or factoring bank account. However there is a nominal code 7916 to record Debt factoring interest in Final Accounts Online.

When creating a new nominal code, they must be based on an existing code so that they can be included in the correct place in the accounts.

Although we cannot advise customers on nominal codes and groups to use to prepare the financial statements, as per common practice, you can create new nominal codes for factoring fees and factoring charges based on the nominal group ‘Other charges’ and factoring bank account based on the nominal group ‘Cash at bank and in hand’.

We hope this helps and we will record this as a future improvement so these nominal codes can be populated automatically.

Kind Regards