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Setting Up Chart of Accounts
01-21-2016, 02:15 AM,
#1
Question  Setting Up Chart of Accounts
Greetings All,

I'm trying to set up our Chart of Accounts. The way our structure is now is as follows:
We use Profit Centers - we have 6 main centers (001, 002, 003, etc)
Within the profit center we have many many Cost Centers (000, 099, 100, etc)
Within the cost centers we have our Chart of Accounts
I want to distribute many or all of our cost centers into each of the profit centers along with the chart of accounts. This is causing duplicates to occur.

This is what I would like to accomplish

PC CS COA
001 - 000 - 52000
001 - 000 - 53000
001 - 000 - 55000
001 - 099 - 52000
001 - 099 - 53000
001 - 100 - 55000
001 - 100 - 65000
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01-21-2016, 04:34 AM,
#2
RE: Setting Up Chart of Accounts
This is a problem we have had with a number of European Union charts of account. Our solution was to setup the groups as you say so Group 001 includes sub groups 000, 099, 100 etc. Then in the accounts we have to use the full account number so 00100052000, 00100053000, 00100055000 etc. Not perfect but it works and probably will work for you as well. To this end we gave the groups a code as well as a name whichIMHO was always a fundamental flaw in the design of the CoA. I can let people have this work if it is of interest to anyone.

Thanks
Tim
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01-21-2016, 04:38 AM,
#3
RE: Setting Up Chart of Accounts
(01-21-2016, 04:34 AM)falkoner Wrote: This is a problem we have had with a number of European Union charts of account. Our solution was to setup the groups as you say so Group 001 includes sub groups 000, 099, 100 etc. Then in the accounts we have to use the full account number so 00100052000, 00100053000, 00100055000 etc. Not perfect but it works and probably will work for you as well. To this end we gave the groups a code as well as a name whichIMHO was always a fundamental flaw in the design of the CoA. I can let people have this work if it is of interest to anyone.

Thanks
Tim

Thanks for the Information, I will run it by our controller
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