Different nominal codes for vehicle fleet? Different nominal codes for materials purchased?

Question

I am new to using SAGE in the workplace (only recently completed theory training so not used in an actual setting) and I want to set things up right before I load up the recent transactions. 
 
 my question is, our company has over 75 vehicles in it's stock, ranging from transit vans to HGV wagons and I currently monitor costs against each vehicle. Can I or should I create a separate nominal codes for each vehicle so I can continue to monitor costs? 
 Note, some are hired-in vehicles, others we own. 
 if so, which nominal codes range should I use? I'm thinking 7300 - 7499 
 
 Also, we have well over 200 different product lines that we purchase and again I have been monitoring costs. Can I and should I create a separate nominal code for each product type. 
 
 Thank you in advance

Andy Rickeard · Answer

Hi,

Thanks for using Sage City.

There are several options for the situations you've outlined, some may depend on the variant of the software you're using and what you want to achieve.

With the vehicles, if you want to monitor costs aginst them it may be worth looking at setting up projects or departments.

Read more about Projects

Read more about Departments

For the vehicles you own, I'd expect them to be classed as assets and as such you would normally add them to the fixed asset register but this would not track ongoing costs so depts and projects would come back into play.

With choices like this, I would recommend speaking to your accountant first to get their advice from the start to make sure you head in the right direction.

I hope that's of some help. If this has helped, please click More > Verify Answer.

Regards,

Andy
Sage UKI

Sage 50 Accounts

Different nominal codes for vehicle fleet? Different nominal codes for materials purchased?

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