Need some ideas

[anuedwardlobo]

Whats the best way to arrange the following:

I have a Romanian chart of accounts that needs to be adhered to in strict order by businesses there.

For simplicity sake, say the coa only has 2 accounts
1 Bank
2 IT expenses

The accounts for balance sheet are accountno.segment
The accounts for p&L segment.accountno.segment

With this chart of account I can only show one bank account. I can create a segment so all different banks can go as
1.1 bank1
1.2 bank2
1.3 bank3
and when I report to the authorities I just report total of 1.

For expenses I create segment to report p&L by segment so the code I have to IT expenses is
1.1.0 Segment 1
2.1.0 Segment 2

Is this the right way ? How else can I do this. The different banks are shown as segments to overcome the coa limitations.

Or is it better to put the segments in optional fields and have our own gl codes which only partly follow the romanian coa?

 

[ettienne]

So you are saying you will use a 1 digit account number?
That simply does not make sense and will lead to a real bizarre coa.

 

[anuedwardlobo]

That was a simple example which I think I messed up...I'll try explaining with a real example.

The romanian account code for bank is 5124. If I have more than one bank account I cannot use 5125 as 5125 is Amounts under settlement. I cannot use 5123 as 5123 is bills of exchange held to maturity

I can create a 5 digit account and use 51240 51241 51242, the last digit being for sub accounts or I can do 5124.1, 5124.2, 5124.3 the last segment being for sub accounts.

Or I can just write my own codes and maintain the 5124 bit in a map under optional fields.

In the end I need to report 5124 amount x.xx for the government authorities and 51240, 51241, 51242 for internal reportings and 5124 for management.

Considering this what is the best way to do it?

 

[ettienne]

Use 5 digits, like 51240, 51241, etc. This gives you max 10 bank accounts, or other sub accounts for that matter. If that is not enough then go to 6 digits.
This is much cleaner than using another segment.
Or use your own coa and use FR to print the government issued bank account number on a report. That should also be simple, albeit a PINA.