The charts of accounts is a general and sub chart set tied together with a linker. The linker defines sets of sub accounts (e.g., bank, customers, vendors, employees, fixed assets, etc.)
Gen Chart Structure
- The gen set can be up to 5 digits with a maximum of 999 accounts
- You can search by description or number, and you can subdivide it into 16 sections
- The gen chart rarely changes. It is the backbone of your reporting system
- Most companies call it the “Uniform Chart of Accounts”
You can assign 6 gen accounts as receivables where you track by invoice number.
In addition, you can assign 2 gen accounts “by balance,” where they track by balance, similar to a credit card statement.
You can assign six gen accounts as payables where you track by invoice number.
Sub Chart Structure
The sub account can be up to 12 digits, and there is no practical limit to the number of sub accounts. The sub chart of accounts changes continuously (e.g., new, change, or inactive). You can modify the sub chart of accounts in any function and can limit access to subs using five attributes. You can search by description, number, or string (hyper search). The hyper search looks for a string match in the name or address fields. The sub chart divides into sets for: banks, customers, vendors, employees, fixed assets, jobs, departments, profit centers, cost centers, notes receivable, notes payable, shareholders, partners, funds, worker comp classes, etc. You are limited to 99 sets.
The link defines sets of subs. It is a prefix to the sub account and a suffix to the gen account.
The linker is what makes single-file design work. The link is used to define structure, never to enter data.
The following defines two links:
Links in the sub chart:
Links in the gen chart:
|1400||22||A/R – Trade|
|1450||22||A/R – Allowance for Doubtful Accounts|
|3100||44||A/P – Trade|
|3150||44||A/P – Holding|
You have 4 gen accounts and 6 sub accounts, but 12 accounts as follows:
|1400||110||A/R – Trade||ABC Customer|
|1400||130||A/R – Trade||DEF Customer|
|1400||140||A/P – Trade||GHI Customer|
|1450||110||A/R – Doubtful||ABC Customer|
|1450||130||A/R – Doubtful||DEF Customer|
|1450||140||A/R – Doubtful||GHI Customer|
|3100||110||A/P – Trade||PQR Vendor|
|3100||130||A/P – Trade||STU Vendor|
|3100||140||A/P – Trade||XYZ Vendor|
|3150||110||A/P – Hold||PQR Vendor|
|3150||130||A/P – Hold||STU Vendor|
|3150||140||A/P – Hold||XYZ Vendor|