Default Nominal Accounts Including Cost Centres

Question

Hi, 
 
 I am currently testing foreign currency on our training company. 
 FX Profit/(Loss) revaluations are done automatically once Invoice and Payment have been allocated. 
 
 I have the FX Nominal account set up against 'Exchange Differences' in the Default Nominal Account area. However, all of our Profit and Loss accounts are set up with cost centres, and this page doesn't allow me to enter a cost centre next to the Nominal Code? 
 
 I have spoke to our own IT Support about this issue and they have told me that you cant use a Cost Centre with a Default Nominal account, which to me just doesn't seem right, as why would we be allowed to use and create cost centres, but not be able to use them in this way? 
 
 At the moment, the revaluation is posting directly to Suspense and a journal is required to get it where it needs to go. 
 Does anyone have any idea if there is anything i can do to fix this, or know if Sage are aware of/fixing this? 
 
 Many thanks in advance, 
 K Mel.

Gary Butler_1 · Accepted Answer

You cant set a specific cost centre in the Default Nominal Accounts because it will always post to a specific cost centre even if you dont want it to. The way the system works is to use the cost centre (and department if set) from the Sales or Purchases accounts default account for Profit and loss transactions (you can enable the Balance sheet split if you need to) and it will use the default nominal code from the Exchange Rate default nominal account and the cost centre and department from the Sales or Purchase Ledger account. 
 Some more info here: http://desktophelp.sage.co.uk/sage200/professional/Content/SL/EnterNewCustomerAccountTrading.htm?cshid=Sage_MMS_SalesLedger_MaintainCustomerAccountForm_tradingTabPage 
 To see what code it wants to put it to, on your training company do your transactions in a future period, then look at what codes they want to post to in the Nominal (the deferred postings area will show what codes it wants to post it to.) With Cost Centres and departments, you'll need to be setting up at least a fair number of codes and codes with cost centre and department variants, though there are tools in the system to do this. 
 I'm gathering where you have a training company that you'll be on Sage200 Professional, so your Business Partner should be able to help you though this.

Sage 200 UKI

Default Nominal Accounts Including Cost Centres

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