A nominal account is used to categorise your inflows and outflows. For example, you could have one nominal account for funder commissions and then one nominal account for dealer commissions.
Info: Nominal Accounts can be integrated with your accounting software using our API
To add a Nominal account click the ‘Settings' tab in the menu bar and scroll to 'Nominal Accounts'.
Then click 'Add Nominal Account’ and you will be prompted to input the account type, nominal code and a description of the nominal account.
Note: The nominal code should match the nominal code that you use in your accounting software.
Info: If you use the same nominal account, it might be worth selecting it as the default. This means that the invoice lines will automatically be assigned to this account.