- Do you see an increasing number of Account Master (F0901) records in your system?
- Is the Next Number for Account ID is nearing its limit (99,999,999)?
- Did you notice an increasing number of Account Ledger (F0911) and Account Balances (F0902) transactions in your system?
- You realized that you are keeping many more years of data in the system than is necessary for business or statutory reasons?
Since Model Chart of Accounts are used as a basis for creating accounts for Business Units, Projects, and Jobs:
- These models often contain every possible account for a Business Unit, Project, or Job.
- Many of these accounts are unused by the Business Unit, Project, or Job.
- These unused accounts are not removed from the system.
- Evaluate your Business Units, Projects, and Jobs for best fit into Model Chart of Accounts.
- Determine if there are distinct categories of Business Units, Projects, or Jobs that have different account needs.
- Consider creating separate models for these variations to optimize the number of accounts in a model.
- Define a process for purging unused accounts after Projects or Jobs close.
- Define and implement a Financial Purge and Archive Strategy so that your live system is not carrying unnecessary data. This data includes but is not limited to Account Master, G/L Transactions, Account Balances, A/R transactions, and A/P transactions.
- Customers have been able to dramatically reduce the number of accounts and the volume of financial data in their production environments.
- Customers have found their Financial Reporting performance improves with the reduction of transactions and accounts.
- Customers have found they are no longer in danger of running out of Account IDs.