Hi all,
I would like to create a new Chart of Accounts (CoA) for my company, and while there is nothing significantly special in the business itself, I would like to use a structure of the chart that could represent Local GAAPs while still allowing if IFRS results reporting.
I will use the example below to illustrate, given that the numbering of the accounts is only indicative, and it can take any form as long as there is a way to achieve the desired effect.
Country identifier 01 = Austria
“Account group” could be that .1002 = Other admin. costs
Posting account .001 = Car insurance
Additionally, for any posting to be done on any of the expense accounts I am making use of certain codes through purchasing/project management. In other words, when placing a Purchase Order for car insurance, I will not do it on the system using an account to book that order, but I will use a code that is linked to the given account – for example code ABC. Code ABC is linked to the respective posting account 01.1002.001, and it will create the G/L entry without me manually touching the account itself.
Let’s say I have another country 02 = Czech Republic. The accounts that fall under the account group of Other admin. costs are in this case 2
02.1002.001 = Aircraft Insurance
02.1002.002 = Car Insurance
I would like to ask if it is possible to link my code for purchasing (ABC) simultaneously to:
- 1002.001 in Austria
- 1002.002 in Czech Republic
There “posting accounts” part is a different number in the 2 countries
Most importantly
let’s say I would like to create the rule that within all countries that I have, account group 1002 = Other admin. costs, therefore I would like to set a global rule of how this account should be treated by the various modules on the system, no matter the country.
I would also like to know if it is possible to maintain that rule globally, rather than country by country. Let’s say for the purpose of the example, I would like to capitalise everything that is posted on “account group” 1002. Am I able to put that rule on the group, disregarding the “country identifier” and the “posting account”?
Thank you
Martin
