Multiple chart of accounts

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If you plan to have multiple legal entities, each entity can have its own defined chart of accounts, or you can use the same chart of accounts for all or some legal entities.

It's common for large organizations to use the same chart of accounts across multiple companies. You can define company-specific data, such as the default sales tax code, on the main account and then inactivate financial dimension values for a specific company.

The following entities/objects have company-specific data:

  • Main account

  • Dimension values

The following elements make up the shared chart of accounts:

  • Chart of accounts

  • Main accounts

  • Account structures

  • Advanced rules

  • Financial dimensions

  • Financial dimension values

Next unit: Set up a chart of accounts

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