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Chart of accounts and its levels?? need help

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  • Mohsin Khan
    hello members, can any one explain me about the levels of the COA??? what is it? what does the mean by 3 / 4 level COA? what are the key factors that helps us
    Message 1 of 3 , Dec 1, 2007
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      hello members,
       
      can any one explain me about the levels of the COA???
      what is it?
      what does the mean by 3 / 4 level COA?
      what are the key factors that helps us to define the level
       
      if we are running the GL for multiple companies(group of compnaies)..what is the best levels for the COA
       
       
       
      thank you


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    • mit@beaconhouse.edu.pk
      Level defines hierarchy of the accounts in COA, generally used for grouping accounts of similar nature. For example Banks, Supplier, Expenses, etc. If you are
      Message 2 of 3 , Dec 1, 2007
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        Level defines hierarchy of the accounts in COA, generally used for grouping accounts of similar nature. For example Banks, Supplier, Expenses, etc.

        If you are running GL for several companies, following is also needed,

        • Do the companies use exactly the same COA or is it different for different companies
        • Would your management require consolidated report of all companies, if yes then at what level of COA
        • How much flexibility each company would need to manage its own COA

         

        There was a good discussion on the same, about 2-3 months back, if you could go through the group’s archives.

         

        HTH!


        Aleem

         

        Socrates:

        "When a man says 'I Know', he closes his mind to all knowledge!"


        From: PkOug@yahoogroups.com [mailto:PkOug@yahoogroups.com] On Behalf Of Mohsin Khan
        Sent: Saturday, December 01, 2007 3:57 PM
        To: PkOug@yahoogroups.com
        Subject: [PkOug] Chart of accounts and its levels?? need help

         

        hello members,

         

        can any one explain me about the levels of the COA???

        what is it?

        what does the mean by 3 / 4 level COA?

        what are the key factors that helps us to define the level

         

        if we are running the GL for multiple companies(group of compnaies).. what is the best levels for the COA

         

         

         

        thank you

         


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      • munawer hussain
        Dear Mr. Mohsin, Normally most companies develop four level of chart of account.but it depends on nature of business. so, First you tell what s the nature of
        Message 3 of 3 , Dec 1, 2007
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          Dear Mr. Mohsin,
           
          Normally most companies develop four level of chart of account.but it depends on nature of business. so, First you tell what's the nature of business of that company where you are going to implement the GL.
           
          Best Regards,
           
          Munawer Hussain
          Cell: +92 321 3853171


          Mohsin Khan <mohsinkahan2008@...> wrote:
          hello members,
           
          can any one explain me about the levels of the COA???
          what is it?
          what does the mean by 3 / 4 level COA?
          what are the key factors that helps us to define the level
           
          if we are running the GL for multiple companies(group of compnaies).. what is the best levels for the COA
           
           
           
          thank you

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