Account Code Segment Values

[admin]

Hi All,
After sharing our thoughts in development of COA,

topic.asp?TOPIC_ID=5099

now it is time that we should work on designing scheme of Account Code Segment values. Just to give starting point we will keep the size of this segment of 6 and only numbers.

100000 - Assets
200000 - Liabilities
300000 - Share Capital & Reserves
400000 - Sales and Other Income
500000 - Cost of Goods Sold
600000 - Indirect Expenses
700000 - Employee Costs
800000 - Corporate Expenses
900000 - Miscellaneous Accounts

Inputs from all members is always welcome.

thanks

[sajjadahmadcma]

Dear Guru

I have prepare COA for a company (telecom industry) after discussion and study of current and future business requirement.
COA is based on 04 levels and 05 major segments.
Natural account coding is base on 09 disits structure based on as follows:

1st level 1 digit
2nd level 2 digits
3rd level 2 digits
4th level 4 ditits

1st Level

100000000 Share Capital & Reserves
200000000 Liabilities
300000000 Assets
400000000 Revenue
500000000 Expenses

2nd Level

120000000 Share Deposit Money
130000000 Reserves
140000000 Unappropriated Profit & Loss A/c

210000000 Non-Current Liabilities
220000000 Current Liabilities

310000000 Non-Current Assets
320000000 Current Assets

410000000 LDI Revenue
420000000 WLL Revenue
430000000 Other Income

510000000 Direct Cost
520000000 Administrative Expenses
530000000 Selling & Marketing Expenses
540000000 Financial Charges


Regars,

Sajjad Ahmed

[alruwaished]

This way is very difficult to come out with standard chart of account. I think the best way to mention the impact of the designing of COA in the GL activity and anther integrated module and customization in the reporting , display, and easy user data entry, System Security using COA , yearly COA extended

[yemfola]

I agree with the above contributor. The structures may differ from one company to the other. I believe it has to do with business needs or requirements of each organisation.

I will suggest that people should submit the structure they have worked on so that it could be used as reference especially people that have worked on multinational projects.

[admin]

Ok no problem but at least share your current structure. thanks