What is Nominal Code 0.0.70.98?

Nominal code 0.0.70.98, known as the Non-Zero Correction Account, is used in Navigator to automatically balance the trial balance when a batch posting does not complete correctly.

Purpose of 0.0.70.98

• Automatic Balancing:

  • If a batch does not balance to zero during posting, the system will automatically post the unbalanced amount to 0.0.70.98 overnight.
  • This ensures that the Trial Balance remains accurate and in balance.

• Correction Mechanism:

  • Entries posted to this account act as placeholders, allowing users to manually adjust and journal the amount to the correct nominal account.

How to Correct Entries in 0.0.70.98

1. Identify the Entry:

   • Review the transactions posted to 0.0.70.98 to determine the source and date of the imbalance.

2. Journal the Amount:

   • Create a journal entry to transfer the amount from 0.0.70.98 to the appropriate nominal account.
   • Ensure that the journal entry includes accurate references to trace the correction.