Chart of Accounts

Realized loss/Profit – a/cs ( GL Exchange rates – Posting tab) – Ex : we send Customer Invoice , if exchange rate value is different  . Accounts we use when we have ex. Exchange rate is one today and different from the payed date.  If we have loss/profit due to currenty , Then we use these a/cs.

Our company currency is set , Basic >> Company Information >> Other tab >> currency

Secondary Currency : Suppose we have head quarters then we set , Secondary currency to Head quarter currency when it is different from Company currency.

Periods :

When we run ERP system we need to have periods , to Posting ..

To generate annual report / half yearly ..

GL >> Setup >> Periods .

We can open for posting , for memebers with User group – Admin ( we can set this in Module Status Tab ) in Periods form.

Once period is closed we cannot reopen .

We can create Create New Fiscal Year … ( By pressing button in Periods).

Split up Periods at time  ( divide Period) – In my case, when 2 different companies are merging we get situation like this .

Date intervals :

When we want Financial statements, we use Date intervals.

Set up of different intervals Eg.

·        This month

·        Prior month

·        Q1, Q2, Q3, Q4.

·        This year

·        Prior year

·        A specified period – First 5 months of year

GL >> Setup >> Periods >> Date Intervals ( get automatically when installed AX).  We get values based on present date.

Dimension :

 To minimize the no.of a/cs .. Dimension is a/c with the main account.

Basic >> Dimensions …   ( Department, CostCentre, Purpose)

We can set up Default dimensions for a/c  in Accounts …

Dimension Focus :  Defines in which order dimensions and accounts should be printed.

            GL >> Setup >> Financial Statement >> Dimension Focus .  ( to set the sequence of showing … )

Chart Of Accounts

Ø  Chart of accounts is first and one of the most important . No other module will work without the Chart of Accounts.

Ø  Account Type ( Header – Just Words, Header, page header, Empty Header, Total … we cannot post ) ,  Revenue , Profit and Loss, Balance – Balance a/c , Cost – for Cost Accounts.

Ø  Locked in Journal Check box( these accounts can only be used, for exact automatic transactions ( posting invoice , ).

Ø  We can set whether a/c is for credit or debit ( by setting DB/CR proposal – Debit / credit , DB/CR requirement, Balance Control.

Ø  If we set , then we cannot use this a/c for other. Suppose set for debit, then can be used only as debit a/c.