Hello,
I would like to know much more about Account Structures.
For example
1)Distribution products business how the Account Structures could be?
2)Fashion & sports business how the Account Structure could be?
please share the information about how to define account structures for the above business.
Regards
Priya
Hi Sheela,
Thank you for sharing the information.
I will check the above information.
Hi Priya,
It is hard to define how the account structure should be configured for specific industry. Based on What dimension should be fixed and default should be identified by business and define the account structure.
Please find the below link which explains the best practices to set up account structure
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures
Thanks,
Sheela
Thank you Sukrut.
I will go thru the above information.
Hi Priya ,
It would be hard to share such a information, what dimension are needed for specific industry and how account structure needs to be configured is solely depends on accounting requirements. Also these things are finalized after lengthy discussions with accounting teams when when you start implement d365. You can learn about how to set those , and what it is. There is very good course on Microsoft learn about it.
docs.microsoft.com/.../17-account-structure-rules
I will check Andre. Thank you.
I would suggest to have a look at the demo environment. This is having some examples of various charts of accounts and various different dimensions linked to these accounts via account structures. The setup data of dimensions and account structures is a global setup form. On the form Ledger, you can setup the CoA and account structures to be used for each legal entity.
Thank you, Andre.
Please share any examples on different types of account structures if possible.
I have much interest to learn on different types of financial dimensions & Account structures
Which ledger accounts to be used and which dimensions could be used is related to the country, type of activities and the reporting requirements of the company. It is not just an industry standard applicable for the whole world. There can be fashion retailers, distributors and manufacturers. All these different type of activities will have different ledger accounts. If the company has a wide range of products or multiple locations world-wide or many different brands, it could have impact on which dimensions to setup.
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