Creating reporting chart of accounts ID

This page allows you to create a unique reporting chart of accounts ID. You can enter a description of the chart of accounts ID. This ID is usually defined at the company or the group company level. You can also set the type of the chart of accounts that is being created. Account codes must be defined for this chart of accounts ID.

Select the “Create Reporting Chart of Accounts” link under the “Accounting Setup” business component.

The “Create Reporting Chart of Account ID” page appears.

Enter the following fields:

Chart of Accounts ID	A unique code identifying the reporting chart of accounts (Alphanumeric, 10). Mandatory.
Description	A textual description of the reporting chart of accounts (Alphanumeric, 40). Mandatory.
	Zoom facility available
Chart of Accounts Type	Use the drop-down list box to select the type of chart of accounts from “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. For example – Schedule VI for Companies in India
	Industry Specific – indicates that the newly created chart of accounts is particular for the type of industry for which it has been created. For example, insurance companies in India have a specific reporting format that has been defined by the Insurance Act.
	Multilevel – indicates that the newly created chart of accounts has multiple levels under it
Country	The name of the country for which the chart of accounts is being created (Alphanumeric, 40).

Note: Value must be entered in this field if “Country Specific” has been selected as the chart of accounts type.

Click the “Create ID” pushbutton to create the reporting chart of accounts ID.

The system stores the login ID of the user, the system date and the login organization unit along with the newly created reporting chart of account details.

The system displays the following:

Created By	The login ID of the user who has created the reporting chart of account ID.
Created Date	The date on which the reporting chart of account ID is created.

To proceed, carry out the following

Select the “Create Reporting Chart of Accounts” link at the bottom of the page to create account codes for reporting and for mapping the reporting account codes to the operative account codes.

Select the "Attach Notes" link at the bottom of the page to record your observations.

What you can do in this page

Set the type for the reporting chart of account

You can set the type of the newly created reporting chart of account. A reporting chart of account can be defined specifically for a country or an industry. You can also define a multilevel reporting chart of account.

Set the “Chart of Accounts Type” field to “Country Specific” if you want to create a reporting chart of account specific to a country.
Enter the name of the country in the “Country” field.
Set the “Chart of Accounts Type” field to “Industry Specific” if you want to create a reporting chart of account specific to an industry like a chemical industry or an aviation industry.
Set the “Chart of Accounts Type” field to “Multilevel” if you want to create a reporting chart of account that has a multilevel structure.