Modifying reporting chart of accounts

This activity allows you to search and select reporting account codes for modifications. Tell me more.

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

The “Edit 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 modify the 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.
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.
Country	The name of the country for which the chart of accounts must be modified.

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

Enter the following in the “Search Criteria” group box to search for the reporting account code for which you want to modify the details:

Account Code From

The starting code in the range of codes identifying the reporting account codes 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 reporting chart of accounts ID.

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

To	The ending code in the range of codes identifying the report account codes 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 chart of accounts ID.
Currency	Use the drop-down list box to select the code identifying the currency of the account codes that you want to retrieve. 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.
Description	The textual description of the reporting account (Alphanumeric, 40). You can enter the description in full or specify it partially using the “*” character. The system retrieves all the reporting 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 reporting account that you want to retrieve belongs. You can select from “Assets”, “Liability”, “Capital”, “Revenue” or “Expenses”. The system displays “All” by default at the launch of the page.
Account Level	Use the drop-down list box to select the level at which the reporting account code that you want to retrieve belongs. All the account levels that have been created will be available for selection in a sequential order.
Parent Account Code	The code identifying the parent account (Alphanumeric, 32).
Account Classification	Use the drop-down list box to select the category to which the reporting 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.

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:

Account Code

The code identifying the reporting account.

Modify the following fields if required in the “Search Results” multiline:

Account Level

Use the drop-down list box to select the level of the account. All the account levels that have been created will be available for selection in a sequential order.

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”.

This field must not be left blank if a value is entered in the “Parent Account Code” field.

Parent Account Code	The code identifying the parent reporting account (Alphanumeric, 32).
Description	The 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 “Expenditure”. 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”.

The system displays the following in the “Search Results” multiline:

Status

The status of the reporting account code.

Check the box in the “Select” column of the multiline to mark reporting account codes for attaching to the operative account codes.
Click the “Edit Account Code” pushbutton to save the modifications made to the reporting account code.

The system saves the login ID of the user and the system date along with the modifications made to the reporting account codes.

Attach reporting account codes to operative account codes

Enter the following fields in the “Operative Account Code Mapping” group box:

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 selected 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 “Expenses”. 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.
Automatic 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 or detached.

Note: One reporting account and atleast one operative account must be selected. You can attach a reporting account that is in the lowest level of the chart of accounts framework.

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 Posting Account Code” pushbutton to attach the reporting account code to the operative account code.

The system attaches and 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.

Note: You can detach an operative account code that has been attached to a reporting account code.

Click the “Detach Posting Account Code” pushbutton to detach the reporting account code from the operative account code.

The system detaches the selected reporting account codes from the operative account codes.

To proceed, carry out the following

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

What you can do in this page

Retrieve reporting account codes

Modify account group

Modify account classification

Retrieve operative account codes

Attach account code

Detach account code

Retrieve reporting account codes

You can retrieve reporting account codes that have to be modified. Based on the reporting chart of accounts ID selected you can carry out a search for retrieving the account codes that have to be modified.

Select the reporting chart of accounts ID that has to be modified in the “Chart of Accounts ID” field.
Enter the fields in the “Search Criteria” group box.
Click the “Search” pushbutton to retrieve the reporting account codes for modification.

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

Modify account group

You can modify the group to which the reporting 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.

Modify account classification

You can modify the classification of 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 attached to the selected 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 attach reporting account codes to the operative account codes that have been retrieved. You can do this for the first time or you can attach the reporting account codes after saving the modifications made to them. You must necessarily select a reporting account code and an operative account code to attach the account codes.

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

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

Detach account code

You can detach a reporting account code from the operative account code that has been retrieved. You can do this if the account codes have been attached earlier.

Mark the check box in the “Select” column of the first multiline to mark a reporting account code that must be detached.
Click the “Detach Posting Account Code” pushbutton.

The system detaches the selected reporting account code from the operative account code.