Chart of Accounts

A Chart of Accounts (COA) is a collection of General Ledger (GL) accounts that are structured and categorized as part of Revenue Management. COA is used to define which GL accounts can be used with an accounts receivable (AR) ledger. Parent-child relationships can be created between the GL accounts to structure them similarly to your existing COA. Optionally, GL categories can be assigned to those GL accounts to include an additional level of detail.

Initially, when a COA is created, it is added under the Chart of Accounts tab on the Setup window of the Revenue Management application. You will also manage it from this window. Once created and given an Active status, a COA can be assigned to an AR ledger and will work together with a Posting Rule Set to create journal entries (transactions).

Setup Window - Chart of Accounts Tab

Setup Window - Chart of Accounts Tab

The following diagram illustrates how a chart of accounts relates to GL accounts, GL categories, an AR ledger, and posting rules and sets.

AR Ledger - Chart of Accounts Diagram

The Revenue Management application was built to be highly flexible so you can replicate your existing COA. Gotransverse accomplishes this by allowing user-defined GL account numbers and names and the ability to create parent-child relationships between the GL accounts.

One COA can be assigned to more than one AR ledger. This allows you to create multiple AR ledgers, and assign the same COA to each AR ledger, but assign different posting rule sets. This is useful when comparing different types of revenue recognition rules or testing new posting rules before adding them to your production AR ledger.

Multiple Charts of Accounts can be created, if desired. Each COA selects from the same list of GL accounts. The same GL account can appear on more than one COA. This means you can create similar COAs using the same GL accounts, or be more granular with a specific revenue stream by including new GL accounts on a COA. You can have a simple, straight-forward COA with a dozen GL accounts or a complex COA with a hundred accounts that use parent-child relationships and categories to keep it organized. The ability to create multiple COAs allows you to be very specific when generating transactions later with an AR ledger.

For information about how to use the Chart of Accounts API, refer to Revenue Management on API 2.0 Help site link to an external web site.

Refer to the following topics for additional information about Chart of Accounts: