what is factor to be consider for finalisation of chart of account
Answers were Sorted based on User's Feedback
Answer / kv
Following are some of the factors which can be considered. 1. Current Chart of Accounts structure of the Organization (legacy). 2.Reporting requirement (For ex: Product based profitability or reporting) 3. Inter-company Accounting 4. Legal Requirements 5.Type of Industry for example some project based organizations use a segment to get project based accounting.
Is This Answer Correct ? | 3 Yes | 0 No |
Depending on your organization structure and reporting requirements it would change. You can create up to 30 segments. Most organization use between 5-10 segments. But one factor you need to consider before finalizing chart of accounts is future changes to the structure is difficult and not recommended.
Is This Answer Correct ? | 2 Yes | 0 No |
Can you hold partial payments? And how can that be achieved?
we have purchased a loptop from the supplier, we have made the payment to supplier through check and the supplier has taken the money from the org. bank and even the transaction has been reconciled with cash management. But due some reason we have returned the loptop to the supplier. Now How this real time scenario will be resolved in the Payable module.
where should Accrual account define in account payable that will affected during Invoicing?
PLS ANY ONE EPLAINE ME I AM RECEIVING JOURNALS FROM RECEIVABLE AND PAYABLES IN GENERAL LEDGER I WANT RECEIVABLE JOUNALS APPROVAL AND PAYABLES JOURNALS I DON'T WANT APPROVAL HOW CAN SET UP THIS
At what level FA is implemented?
What does the Unaccounted Transaction Sweep Report do?
Hi Friends!! I've completed my MBA in Finance and Systems and currently working in a Staffing firm. Recently I've joined in Oracle Apps training institute and can anyone let me know whether there are any chances of getting a job as a fresher. Please help me!!
Payables Applications Technical Reference Manual
How can we Integrate AP,AR,CM & FA to GL? What is the procedure need to fallow as a functional consultant?
what is accounting entry once we receive GRN and inventory accounting.?
3 Answers Ernst Young, Tech Mahindra,
What do you mean by controlling buyers workload?
What is Proxima Payment Terms?