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We have our shared chart of accounts and we'd like to continue with it, now what is the best method to accommodate Statutory accounts in GL, how have you achieved it? I see Microsoft recommends using Stat accounts as the chart of accounts, as financial dimensions etc. but what is the method European companies follow, please advise.
Hi,
Stat as different dimensions are the best practices to follow.
Also if the volume is low you can use a different layer for this requirement with same coa but those won't come to your trial balance instead those can be extracted by running a TB with different layer.
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