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Chart of accounts - parents and subaccounts
Hi
This seems a very basic question but we are just setting up NS and I cannot find anything anywhere that explains what a subaccount actually is and how they should or could be used (in relation to chart of accounts). For instance, if I create:
Telephone Costs (being the parent)
Land Lines
Mobiles
Broadband
with the last 3 as subaccounts - why is that any better than creating just 3 accounts:
Land Lines
Mobiles
Broadband
I can't find anything that makes the parent a non- posting account? that the subaccounts would roll up into in reporting. So I seem to be completely missing the point. I'd ignore it apart from having read the white paper, it recommends using parent/child accounts where possible rather than a linear COA.
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