Chart of Accounts

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Revision as of 07:37, 13 November 2007 by Gabriel (Talk) (Field description)

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Purpose of the Chart of Accounts

Chart of Accounts Design

  • The COA as found in ADempiere is in the form of an excel spreadsheet where users can adapt to their own format.
  • It can then be saved as a comma separated value file or accting.csv and imported into ADempiere.
  • Daniel Norin has created a nice COA Editor to access that csv file to change or create a new COA without looking at the excel file.
  • The COA follows the General Accepted Principles of Accounting (GAAP) in practice throughout the world.

Summary List of COA

  • Here we lay out the general structure of the COA by displaying only the top level summary elements.
Account Value Account Name Account Type
1 Assets Asset
2 Liabilities Liability
3 Owner's Equity/Net Worth Owner's Equity
4 Sales Revenue
5 Cost of Goods Sold Expense
6 Expenses Expense

Field description

Account value - unique ID of the account Account name - short name of the account Account description - a description of the account Account type - type of the entities written to this account (Asset/Liability/Owner's Equity/Expense/Revenue/Memo) Account sign - Natural(+/-)/Debit(-)/Credit(+) Document controlled - ??? Summary account - No entries can be posted to this account, this is a summary of the subaccounts. All entries have to be submitted to the subaccounts Default account - ? Account parent - Summary account where the entries of this account are summarized to Balance sheet - ? Balance sheet name - ? US 1120 Balance Sheet - ? US 1120 Balance Sheet Name - ? Profit&Loss - ? Profit&Loss Name - ? US 1120 Income Stmt - ? US 1120 Income Stmt Name - ? Cash Flow - ? Cash Flow Name - ?

Common Errors in Design