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Changing account structure and new financial dimensions

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Hi,

I have a requirement to change an existing account structure to include a new financial dimension.

All 10 legal entities on the environment have the same account structure in their ledger, but only 2 of the legal entities will be using the new financial dimension.
The other legal entities should not use the new financial dimensions at all, and their account structure should not include it.

The current account structure is for both income statement and balance sheet main accounts and used in budget control configuration.
The new financial dimension is only applicable to income statement main accounts. It will be used in budget control and can therefore not be an advanced rule.

To achieve this, I want to create two new account structures (one income statement and one balance sheet) and remove the old structure from the ledger for the 2 legal entities.
I do not think I can use effective dates to move from the old to the new structures, as the other legal entities will continue to use the old structure.

Any pitfalls or advice on how to proceed from switching to one account structure to another?
  • André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 292,160 Super User 2025 Season 1 on at
    Changing account structure and new financial dimensions
    Hi EssentialFinance123,
     
    There are some more pitfalls.
    New dimension value sets will be created for the new account structure, having a new reference ID for the same ledger account and dimension combinations. This can result in errors in case you must post tax payments/settlements or reverse transactions. I haven't tested if this was solved already.
     
    Instead of creating new account structures, have you considered using advanced rule structures to add the dimension for the two legal entities?
     
  • Morgan Bazin Profile Picture
    Morgan Bazin 44 on at
    Changing account structure and new financial dimensions
    Hi,
     
    Based on what you've indicated, creating a new set of account structures with the new financial dimensions added appears to be the right way to manage this.
     
    Pitfalls:
    • It is possible any unposted transactions in the system may evaluate on the old structure - so they may error - this is mitigated by ensuring all trx are posted before activating the new structure.
    • If you change the order of the dimensions, historical transactions may resolve the financial dimension incorrectly for reporting - add the new dimension to the end of the string.
    Basically - create your account structure, make sure everything is posted, then on the Ledger form for the legal entities that are going to be different - remove the existing structures and add the new ones would be the high-level process.

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