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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Chart of accounts set-up
Microsoft Dynamics GP (Archived)

Chart of accounts set-up

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Posted on by Justin Thacker 40
We’re re-organizing how our COA is set up in GP as our business grows.  Historically, we had our COA set up to gather expense data by cost center and project, however this required multiple accounts for each "natural" expense account (i.e., one for each cost center).  As our business evolves, the COA is becoming unmanageable (currently we have over 1,000 accounts and if we continue on this path, we’ll have over 2,000 soon!).  I’m a novice to GP and don’t know a whole lot about how it works (or how it can work), but I do know there has got to be a better way to get the information we need (i.e., to be able to accumulate costs by departments and projects without essentially having a separate chart of accounts for each of our departments).   We’re looking in to AA, but again I’m not sure if we know the full capability or how it works with FrX.  Is there any advise anyone can provide (resources, tools, suggested approaches, etc); or is 2,000 accounts reasonable for GP?

 

Thank you in advance. 

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  • Justin Thacker Profile Picture
    Justin Thacker 40 on at
    Re: Chart of accounts set-up

    thanks for the info guys.. this helps me see that we may not be too far off base in our set-up.  I had worked with SAP previously and their approach is a little different..

     

  • K Day Profile Picture
    K Day 7,365 on at
    Re: Re: Chart of accounts set-up

    I have a little experience with Analytical Accounting and found it to be pretty neat and a little clunky at the same time.  I never did get around to figuring out how the Analytical Accounting Add-In worked with FRx; got it installed but the client has never really wanted to see information presented other than what they can get from the AA type reports in the system and from Smartlist.  But if you were using it as you say, to have multiple departments or projects, or things that might otherwise be a segment of a GL account, you would probably want to get that AA for FRx working.  This company used it for more trivial purposes, like which employee was travelling, what country, what airline, what type of expense (taxi, train, subway, etc..).

     

  • jeffb Profile Picture
    jeffb 305 on at
    Re: Chart of accounts set-up

    We have over 2700 accounts, but with GP and FRX it is no problem. It allows us to zero in on our revenues and expnses . We have been on GP over 10 years and it is not a problem. That is the advantage of having a high powered system to crunch the numbers.

  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 4,029 Super User 2024 Season 2 on at
    Re: Chart of accounts set-up

    2,000 acounts is not an excessively large COA.  I have a client who has over 45,000 accounts!  And they use project accounting.  However, I agree with you, I like to keep a COA as lean as possible.  A couple of options for you (depending on budget) are to look at using either GP's Project Accounting or a 3rd party project costing app like Wennsoft.  Personally, I like Wennsoft's product better.  It's easier to setup and maintain and provides more flexibility than GP's.

    Hope this helps,

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