Chart of Account Mtce

Bgetty

Active Member
We are in the process of cleaning up our Chart of Accounts. After being live for 2.5 years, and implementing 4 sites (in a shared common environment) our Chart of Accounts is a bit of a mess.

The main problem we have is the duplication of object accounts (semantics). The controller/accountant at each site is free to add object accounts as required. We have no formal policy. In hind sight, I personally feel this was a big mistake.
Would anyone care to share their policy on the maintenance of the chart of accounts with me?


A7.3 Cum 11
 

bgbertrand

Member
Indeed, seems a little messy!
We have restricted the creation of new accounts, and copy to chart of accounts to only one person, which is in the support division, and not within our finance department. Similarly, the creation of AAIs are strictly restricted to one person also. It is already pretty delicate to keep track of all changes this way! I would advise a centralized approach, with a change control mechanism to log all requests.
 

Bgetty

Active Member
Thanks for the reply.
Do you have a formal policy documented that you could share?
I agree with your approach ( 1 person controlling), but I am running into opposition from other in our organization.This is the main reason I am polling other users/companies. Even the JDE consultant advised us to adopt a policy, similar to yours, after we went live.


A7.3 Cum 11
 

Graham_Aberdein1

Active Member
Hello,

We have a central Financial Control department reporting to a director who
has ownership responsibility for the General Ledger. This department
approves and implements any changes to our common chart of accounts shared
by several companies and sites. Any special accounts required by our
subsidiaries must comply with the common chart of accounts structure.

Based on my past experience and knowledge, a centralized control department
or person is pretty well standard for controlling and maintaining the chart
of accounts.

An unregulated chart of accounts would likely have a negative impact on
reporting completeness and accuracy.

Graham G. Aberdein
Clarica
Email: graham. aberdein@clarica .com
Running WorldSoftware A.7.3 cum 11
 
We severely restrict the creation and maintenance of both AAI's and new
accounts in the chart of accounts. I don't see how any well-organized
company can do otherwise. (Off my soapbox now.) No, we don't have a
written formal policy - we are a fairly small company and I have basically
restricted access to these items.

David Bryant
Maxco Supply, Inc
 

FloydRead

Member
I would like the policy as well - There is none here and we always get into
trouble because you never know who did what.

Floyd Read
Chipman Union Inc.
A7.3 Cum 11
 
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