Maintenance Issues of Chart of Accounts


Every business day involves chart of account maintenance especially when there are new combinations of analysis dimensions or whenever a new segment of account code has to implemented causing a time consuming exercise to re-do data migration.



Users expect that a new accounting system can provide a flexible design of dimension code setting so as to motivate them to input most of the analysis data directly into the accounting system.

This is an example of why finance staff usually escape from the input of data into the accounting system when an alternative use of a spreadsheet allows them to design a lot of independent dimensions across different columns which in the long run is a more expensive option.



In addition to a long account code, FESA Financial also supports users to configure user-defined dimensions so that there is no rigid dependency between the chart of accounts and differing dimensions. Most importantly users can configure validation rules for each account code and dimensional code so as to avoid invalid combinations of relevant codes that may exist in vouchers.



Upon implementation of the new system, there can be a substantial reduction in the number of account codes which supports reduced administrative work in respect of adding new dimensions to the accounting system.