Understanding Nominal Code 0.0.70.9 and Year-End Clear-Down

Purpose
Nominal Code 0.0.70.9 stores the total of all prior year Profit and Loss balances after the year-end process runs automatically in Navigator.

Why This Matters

• Prevents the need for manual clear-down journals

• Keeps historical Profit and Loss data intact for reporting

• Ensures compliance with audit and accounting requirements

Key Points

• Set automatically during system setup with your financial year-end date

• Populated after Period 12 ends

• Transactions in this code will never appear in a Transactions Report

• No user action is required for year-end close