Is your ERP chart of accounts span across pages and pages of paper? Do you need to create a separate account for every category of things you need to track in your General Ledger? Do you have to create a separate General Ledger account for each product line that you carry? Most ERP systems are handicapped by their chart of account design because anything they want to track in the General Ledger requires the creation of a General Ledger account. This is not the case with Acumatica chart of account design.
Acumatica chart of account design deploys a sub accounts functionality that provides tremendous benefit to companies. Acumatica sub account functionality allows you to extend your chart of accounts with sub account segments. When you need to track expenses by departments, Acumatica enables you to create a sub account called Departments and populate it with department values. Do you need to track revenue by product line? Acumatica sub account enables you to create a product line segment and populates it with product line values.
One of the major benefits of Acumatica sub account is maintaining a short list of Chart of Accounts and extending the chart of accounts with subaccounts values. Imagine a beverage company tracking sales by product line. Acumatica enables you to create a single sales natural account and choose from the list of product line values to track sales by product line. It would not be necessary to create a separate account for each product line.
Acumatica sub account functionality enables companies to track and report activities, budgets and transactions within an account at a finer level. General Ledger activities and balances of a sub account can be reported separately or in conjunction with a General Ledger account. Contact MIBAR.net additional information about Acumatica sub accounts.