Creating reporting chart of accounts

This page allows you to define reporting account codes for the selected chart of accounts ID. Tell me more.

Select the “Create Reporting Chart of Accounts” link at the bottom of the “Create Reporting Chart Accounts ID” page.

The “Create Reporting Chart of Accounts” page appears.

Enter the following field:

Chart of Accounts ID

Use the drop-down list box to select the code identifying the chart of accounts ID for which you want to create reporting account codes. All the reporting chart of accounts ID that have been defined in the login company and that have been copied to the login company will be available for selection in the ascending order.

The system displays the following:

Description	The textual description of the selected chart of accounts ID.
	Zoom facility available
Status	The status of the chart of accounts ID.
Country	The name of the country for which the chart of accounts has been created.

Note: The name of the country will be displayed in this field if the chart of accounts is of the type “Country Specific”.

Chart of Accounts Type	The type of chart of the accounts. It could be “Country Specific”, “Industry Specific” or “Multilevel”.
	Country Specific – indicates that the newly created chart of accounts is particular for the country for which it has been created.
	Industry Specific – indicates that the newly created chart of accounts is particular for the type of industry for which it has been created.
	Multilevel – indicates that the newly created chart of accounts has multiple levels under it.

Enter the following fields in the “Account Definition Details” multiline:

Account Code	A unique code identifying the reporting account (Alphanumeric, 32). Mandatory.
Account Level	The level of the account in the chart of account structure (Integer). This field must not be left blank if a value is entered in the “Parent Account Code” field. The account levels must be entered sequentially.

Note: The system displays “1” by default in this field if the selected chart of accounts ID is of the type “Country Specific” or “Industry Specific”.

Parent Account Code	The code identifying the parent reporting account (Alphanumeric, 32).
Description	A textual description of the reporting account code (Alphanumeric, 40). Mandatory.
Currency	Use the drop-down list box to select the code identifying the currency in which the reporting will be made. All the currencies that have been assigned to the company will be available for selection in the ascending order. The system displays the base currency of the company by default at the launch of the page.

Note: If the parent account code is in the base currency of the company, the currency of the account code can be different. If the currency of the parent account code is different from the base currency of the company, the account code currency must be the same as the parent account code currency.

Account Group	Use the drop-down list box to set the group to which the account belongs. You can select from “Assets”, “Liability”, “Capital”, “Revenue” and “Expenses”. The account group is an attribute of the account, which allows it to be grouped.
Account Classification	Use the drop-down list box to select the category to which the account belongs. You can select from “Balance Sheet”, “Income Statement” or “Retained Earnings”.

Check the box in the “Select” column of the multiline to mark account codes for attaching to the operative account codes, for attaching or copying the account codes to another company.
Click the “Create Account Code” pushbutton to create the reporting account codes.

The system saves the login ID of the user and the system date along with the newly created reporting account code details.

To proceed, carry out the following

Select the “Attach Reporting Chart of Accounts” link at the bottom of the page to attach the reporting chart of accounts to a company.
Select the “Copy Reporting Chart of Accounts” link at the bottom of the page to copy the reporting chart of accounts to a company.

Attach the newly created reporting account to operative account codes

Enter the following field in the “Operative Account Code Mapping” group box. Data entry in these fields is required only if you want to attach the newly created reporting account codes to the operative account codes.

Operative Chart of Accounts ID

Use the drop-down list box to select the code identifying the operative chart of accounts ID for which you want to map the operative account codes to the newly created reporting account codes. All the “Active” operative chart of accounts ID that have been defined will be available for selection. The system displays “Blank” by default at the launch of the page.

The system displays the following:

Description	The textual description of the operative chart of accounts ID.
	Zoom facility available

Enter the following fields in the “Search Criteria” group box to search for the operative account codes that have to be mapped to the reporting account codes:

Account Code From

The starting account code in the range of codes identifying the operative accounts that you want to retrieve (Alphanumeric, 32). The system retrieves all the account codes that are similar to the value entered in this field based on the selected operative chart of accounts ID.

Note: The code entered in this field must be before the code entered in the “Account Code To” field.

To	The ending account code in the range of codes identifying the operative accounts that you want to retrieve (Alphanumeric, 32). The system retrieves all the account codes that are similar to the value entered in this field based on the selected operative chart of accounts ID.
Currency	Use the drop-down list box to select the code identifying the currency in which the financial postings will be made in the operative account codes. All the currencies that have been mapped to the company will be available for selection in the ascending order. The system displays the base currency of the company by default at the launch of the page.
Description	The textual description of the operative account (Alphanumeric, 40). You can enter the description in full or specify it partially using the “*” character. The system retrieves all the operative account codes that have descriptions similar to the value entered here.
Account Group	Use the drop-down list box to select the group to which the operative account that you want to retrieve belongs. You can select from “Assets”, “Liability”, “Capital”, “Revenue” or “Expenditure”. The system displays “All” by default at the launch of the page.
Layout Heading	Use the drop-down list box to select the layout heading to which the operative account that you want to retrieve has been mapped. These layout headings lead to form the various financial statements for the company. The system displays “Blank” by default at the launch of the page.
Control Account Type	Use the drop-down list box to select the type of control account to which the operative account that you want to retrieve belongs. You can select from “Supplier Payable”, “Supplier Prepayment”, “Supplier Deposit”, “Customer Receivable”, “Customer Prepayment”, “Customer Deposit”, “Bank Cash PTT”, “Input VAT”, “Output VAT”, “Asset Account”, “Depreciation Account”, “Revalued Depreciation Account”, “Cumulative Depreciation Account”, “Revalued Cumulative Depreciation Account”, “Revaluation Reserve Account”, “Loss on Revaluation Account”, “Gain on Revaluation Account”, “Capital WIP” or “Revaluation Asset”. The system displays “All” by default at the launch of the page.
Account Classification	Use the drop-down list box to select the category to which the operative account that you want to retrieve belongs. You can select from “Balance Sheet”, “Income Statement” or “Retained Earnings”. The system displays “All” by default at the launch of the page.
Auto Posting Account Type	Use the drop-down list box to select the type of automatic posting account to which the operative account that you want to retrieve belongs. You can select from “Cost of Goods Sold Suspense Account”, "Consignment Stock in Transit Account", “Fixed Asset Suspense Account”, “Freight Control Account”, “Gain on Sale of Asset Account”, “Inter Customer Transfer Account”, “Inter Supplier Transfer Account”, “Item Variance Account”, “Loss on Sale of Asset Account”, “Purchase Stock in Transit Account”, “Purchase Suspense Account”, “Residual Write Off Account”, “Retained Earnings Account”, “Rounding Off Account”, “Sales Stock in Transit Account”, “Scrap Account”, “Stock Suspense Account”, "Stock Transfer SIT Account", “Supplier Suspense Account”, “Trading Stock Account”, or “WIP Adjustment Account”. The system displays “All” by default at the launch of the page.
Consolidation Account Code	The code identifying the operative account into which the consolidation of the accounts takes place (Alphanumeric, 32).

Click the “Search” pushbutton to retrieve the search results.

The system retrieves and displays the following in the “Search Results” multiline based on the search criteria entered:

Posting Account Code	The code identifying the operative account.
Description	The textual description of the operative account code.
Currency	The code identifying the currency in which the financial postings must be made in the operative account.
Account Group	The group to which the account belongs. It could be “Assets”, “Liability”, “Capital”, “Revenue” or “Expenditure”.
Account Classification	The category in which the account is classified. It could be “Balance Sheet”, “Income Statement” or “Retained Earnings”.
Consolidation Account Code	The code identifying the account into which the consolidation of the operative accounts take place.
Effective Period From	The starting date of the period from which the account can be used.
Effective Period To	The ending date of the period till which the account can be used.

Check the box in the “Select” column of the multiline to mark an operative account code to which the reporting account code can be attached.

Note: At least one reporting account and one operative account must be selected.

You can map “Posting” account codes to a reporting account that is in the lowest level of a chart of account structure.

You can attach a reporting account code that is in the base currency or the parallel base currency of the company to an operative account code that is any currency permitted by the company. If the reporting account code is in a currency other than the base currency or the parallel base currency of the company, the operative account code must be in the same currency as that of the reporting account code.

The group and the category to which the reporting account code and the operative account code belongs must be the same.

Click the “Attach Account Code” pushbutton to attach the reporting account code to the operative account code.

The system saves the details of the reporting chart of accounts and the reporting account codes along with the operative chart of accounts and the operative account code details.

To proceed, carry out the following

Select the “Attach Reporting Chart of Accounts” link at the bottom of the page to attach the reporting chart of accounts to a company.
Select the “Copy Reporting Chart of Accounts” link at the bottom of the page to copy the reporting chart of accounts to a company.

Creating reporting chart of accounts – An overview

You can enter a unique account code along with its description. If the chart of account belongs to the “Multilevel” type, you can enter the level of the account code and also indicate the corresponding parent account code. You can also set the group and the category to which the reporting account codes belong. Multiple account codes can be created for a selected reporting chart of accounts. The system saves the login ID of the user and the system date along with the newly created reporting account code details.

You can select the newly created reporting account codes and map them to the operative account codes. You can also select the reporting account codes to attach or copy them to the other companies that have been mapped to the login company.

This page also allows you to search and select an operative account code to which the newly created reporting account code must be attached. Based on the operative chart of accounts ID selected, you can carry out a search by specifying a range of operative account codes that you want to retrieve. You can also search for the operative account code by using the currency in which the financial postings will be made in the account and the code identifying the corresponding consolidation account.

You can attach a selected reporting account code to an operative account code if the group and the category to which both the account codes belong are the same. The reporting account to which the operative account code is attached must be in the last level of the chart of account structure.

What you can do in this page

Set account group

Classify the account

Retrieve operative account codes

Attach account code

Set account group

You can set the group to which the account must belong. An account is grouped based on its attribute. You can group an account as “Assets”, “Liability”, “Capital”, “Revenue” or “Expenditure”.

Set the “Account Group” field to “Assets” to set the account as an “Asset” account.
Set the “Account Group” field to “Liability” to set the account as a “Liability” account.
Set the “Account Group” field to “Capital” to set the account as a “Capital” account.
Set the “Account Group” field to “Revenue” to set the account as a “Revenue” account.
Set the “Account Group” field to “Expenditure” to set the account as an “Expenditure” account.

Classify the account

You can classify the reporting account for any of the financial statements. The details of the account will appear in the selected financial statement. You can classify an account as “Balance Sheet”, “Income Statement”, or “Retained Earnings”.

Set the “Account Classification” field to “Balance Sheet” to classify the account as a “Balance Sheet” account.
Set the “Account Classification” field to “Income Statement” to classify the account as an “Income Statement” account.
Set the “Account Classification” field to “Retained Earnings” to classify the account as a “Retained Earnings” account.

Retrieve operative account codes

You can retrieve operative account codes that can be mapped to the newly created reporting account codes. Based on the operative chart of accounts ID selected, you can carry out a search for retrieving the account codes that have to be attached.

Select the operative chart of accounts ID that has to be attached in the “Operative Chart of Accounts ID” field.
Enter the fields in the “Search Criteria” group box.
Click the “Search” pushbutton to retrieve the operative account codes that have to be attached.

The system retrieves all the operative account codes that are in the “Active” status.

Attach account code

You can map the newly created reporting account codes to the operative account codes that have been retrieved. You must necessarily select a reporting account code and atleast one operative account code for mapping.

Mark the check box in the “Select” column of the “Account Definition Details” multiline to mark a reporting account code that has to be attached.
Mark the check box in the “Select” column of the “Search Results” multiline to mark an operative account code that has to be attached.
Click the “Attach Account Code” pushbutton.

The system attaches the selected reporting account code and the operative account code.