Account Type for Statistical Accounts
Our finance team configured Statistical Accounts in Oracle GL for various purposes. Some of these account types are classified as 'Assets' while some as 'Revenue' or 'Expense' etc. The balances for account type classified as 'Asset' roll over to next year and those setup as Account Type as 'Expense' zero out at the end of year.
Our Finance team wanted to know if there is a best practice for setting up the Stat account types as always P&L so they all zero out? Could there be any reason they should be setup as Assets or perhaps it was error during configuration when these accounts were configured many years ago.