Category Nominal Code Mapping

Documentation
1

According to the API docs here, the Nominal Code ranges can be used to determine if a category is Income, Cost of Sales etc:

  • 001 to 049: Income
  • 100 to 199: Cost of Sales
  • 200 to 399: Admin Expenses
  • 671 to 720: Current Assets
  • 731 to 780: Liabilities
  • 921 to 960: Equities

However, these don’t seem to match (all of) the default categories - EG I have a “Bank Account” with code 750 (seems to be made by default) which shows in the UI as an Asset; but from the code mapping above seems like it should be a liability?

What am I missing?

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2

Hi Daniel,

Welcome to our forum! My name is Katie, I’m one of the Support Engineers here at FreeAgent.

Thank you very much for your question. Our Tax Engineering team have informed me that the nominal code ranges listed in the API docs are more of a reflection of where we’d like to be, but the way we have the accounts set up now they don’t always match up directly with the ranges mentioned.

I will take a look into updating the documentation to reflect the current state of the nominal codes.

Many thanks,
Katie

1 Like
3

Thanks Katie - that’s really helpful.

Would you be able to confirm for me then that in future any new “default” categories will be within those ranges? (EG that a new default “income” account would not be made in the “Cost of Sales” range?)

All the best,
Dan

4

Hi Daniel,

Yes, I believe the nominal codes should conform to those ranges, although I currently have no estimate for when this will be implemented.

I hope this helps!

Many thanks,
Katie