Accounting Flexfield and Chart of accounts

[svssravan]

Hi,

I am trying to implement a multi-org in vision instance. Can anyone tell me on what basis we select the number of segments in Accounting Flexfield. In what sequence does the segments should be?

For Chart of Accounts, how can we know that we need to define these number of accounts. Can anyone tell me any examples of accounts that we normally define during the implementation.

Waiting for a response from anyone.

Regards,
Sravan.

[Willynelly1]

Hi,

You shold know atleast basic accounting knowledge when you are defining chart of accounts flexfields.

Depends on your Co's requirements, you can define, for example

Segment1 = Company ( 00-99)
Segment2 = Cost center or Profit Center (000-999)
Segment3 = Location (000-999)
Segment4 = Account ( 00000-99999) let say 1 series starts Assets, 2 series starts Liabilities, 3 series starts Owners Equity, 4 - revenue, 5 to 8 series Expenses, 9 series 90000 to 99999 , assets, libabilities (control accounts)
Segment5 = Future use
Segment6 = Future Use
Segmetn7 = Future use
and u can define maximum 10 (no limit)
your GL Code combination will look like this

11.101.121.65303.0000.0000.00000

Hope this will give you brief idea about defining accounting flexfields.


William.