How to Remap Nominal Codes for 60.85 & 60.81 (Vehicle Consigned Stock / Suspense)

Modified on Fri, 27 Dec at 12:59 PM

Nominal codes 60.85 (Vehicle Consigned Stock) and 60.81 (Suspense) should always balance as equal and opposite entries. These codes must also be mapped to the same location in the management accounts for accurate financial reporting. This guide explains how to remap these codes within Navigator to ensure they are properly managed and no longer appear on the Trial Balance (TB).

Steps to Remap Nominal Codes

1. Access the TB Setup

Navigate to:
Accounts > Nominal Ledger > Utilities Tab > Setup > TB Setup.

2. Open the Remapping Table

In the TB setup window, locate the Remapping Table.
Click the "Add" button to begin adding the remapping configuration.

3. Configure the Mapping

Enter the following details in the remapping table:
- Dept. - Type - Code:
  - For the first line, enter 31.60.85 (Vehicle Consigned Stock).
  - For the second line, enter 31.60.81 (Suspense).
- Remove any * symbols in the boxes where you are entering nominal codes.

4. Save the Changes

After entering the remapping details, click "Add" to apply the configuration.
Finally, click "Save" in the bottom-right corner of the screen.

Post-Mapping Action

When you save the changes, the system will initiate a Nominal Rebuild to remap the updated codes.
After the rebuild, the mapped codes will no longer appear separately on the TB, as they are now consolidated.

Key Notes

Contra Balances:
- These codes must always balance as equal and opposite entries to ensure financial integrity.
Scheduling Journal Requirement:
- Dealers may need to clear entries using a scheduling journal rather than standard journal entries.
Mapping Consistency:
- Ensure the mapped codes are aligned to prevent discrepancies in the management accounts.

Scenarios Where This Process is Useful

Resolving issues with 60.85 and 60.81 appearing separately on the TB.
Consolidating nominal codes to streamline financial reporting.
Ensuring accurate management account mapping for consigned stock and suspense balances.