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Chart of Accounts best Practices

Accepted answer
edited Nov 5, 2019 12:19AM in General Ledger & Intercompany 3 comments


Chart of Accounts best Practices


Hello :

I think it is not an easy question, regarding the best practice to design a Chart of Accounts however I have one specific question regarding to setup the following structure :

1.-Company (CO) ---Primary Balancing Segment

2.-Cost Center (CC) ----Cost Center Segment

3.-Account (ACCT) -----Natural Account Segment

4.-Intercompany (IC) --- Intercompany Segment

Now I have a question regarding to setup either Division (DIV) and assign the qualiafier called Location segment or Second Balancing Segment.

What would be the benefit to setup the Division (DIV) or not, I thonk the best benefit is for Management Reporting for P&L mainly for Financial Report Studio.

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