Create New Chart of Accounts

TABLE OF CONTENTS

UPDATE MODEL CHART OF ACCOUNTS................................................................................................................................ 1

Copy the Model of Chart Accounts to Business Units....................................................................................................... 3

UPDATE MODEL CHART OF ACCOUNTS

In order to create a new chart of accounts, please update the Model Chart of Accounts first. So, you ensure that when you copy the accounts from the model business units into your actual (or production) business units, the accounts are standardized across business units and companies.

1. To access the chart of Accounts, you can click to 09 General Ledger > General Ledger System Setup > Organization & Account Setup > Review and Revise Accounts. 

1. For example, if you want to create a new subsidiary or Object Account under MODELPL, please click the “+” plus button or the Copy Button  .

NOTE: The Model Chart of Account for Balance Sheet is MODELBS and for P&L is MODELPL

1. In this example, a new subsidiary “0013” entered. Then, please review the Description, Posting Edit and Cat Codes. click  to save the new chart of Account.

Copy the Model of Chart Accounts to Business Units

1. To access the application, 09 General Ledger > General Accounting System Setup > Organization & Account Setup > Copy accts to Business Units

1. Enter the Model Chart of Accounts in the “From business Unit” field. For example, MODELPL and “To Business Unit” field is “13202”. Then, click the Green tick 

1. Click OK 

As a final step, the system will create a report as an update.