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The logic behind Group Accounts

Most of our standard group accounts follow the logic below, but a few country-specific group accounts are slightly different in their logic.

In general, the rules are as follows:
  • All P/L accounts are 5 digits long
  • All B/S accounts are 6 digits long
  • All C/F accounts are 4 digits long

The numbering of the accounts can be changed but note that all standardized reports within the system sort based on the numeric value of the accounts. This means that if you do not follow the same numbering when changing accounts you may end up with reports where accounts are shown separately from where it is summed into.

We have also built in some logic for the asset groups, the equity groups and the provisions groups.

All of these groups have a balance at the beginning of the year that is an account you can map to, and several accounts where you can map to if you have the corresponding accounts and if you do not you can use them for reclassification.

For each group or sub-group, they will sum up into an account that has the balance at the end of the year. This can be used for the specifications of transactions within these groups, but if your reporting does not require this you can just use the balance at the beginning of the year account.