Our nominal ledger is designed in such a way that you can operate the rest of the accounts system and never have to worry about nominal ledger. On the other hand, if your business is larger, or you want to maintain a nominal ledger, you can do so. All the tools are there, accounts that can be assets, liability, income, expenditure or equity. You can make journal entries, specify account periods, plan budgets, and produce trial balance, income statement (P&L report), balance sheet report, and cash flow statements.
You can set up recurring journals. There is also an asset
register that will calculate depreciation (straight line, reducing balance, or
sum of digits) and apply the journals as necessary.
Spending a little time operating the cash book properly can pay dividends. It can tell you at any one time exactly what your cash situation is, how much petty cash (or till cash) you have, how much is in your bank, and how much you've spent on your credit card/s.
Account statements are displayed in such a way as to appear similar to account statements you would receive from your bank. This helps when reconciling your bank accounts (ie. making sure they are correct).