QAD Enterprise Edition’s Alternate Chart of Accounts

Posted on: December 28, 2010 | By: SuperUser Account | QAD Financials

Multinational companies are continuing to deploy common systems across their enterprise. A myriad of reasons including reduced support costs, lower audit costs and more timely information add to their return on investment.

When deploying QAD’s Enterprise Edition financial modules, a company can decide to implement a common chart of accounts across its enterprise. These common accounts, with their associated business rules, insure that local accounting departments are recording financial transactions appropriately. These homogenous data sets insure more stable, accurate and auditable information is provided to the owners.

However, these global charts of accounts will not support jurisdictions that have mandatory legal chart of accounts. China and France are countries that require financial reporting to the government in specific chart of account format. Alternatively stated, these account numbers are government mandated.

QAD’s Enterprise Editions resolves this issue using an Alternate Chart of Account tool. The global operational accounts are mapped to the alternate chart of accounts. The global chart of accounts supports the company reporting and the alternate chart of accounts support the legal reporting requirements.

For more information regarding this blog, please email me at avitullo@logan-consulting.com.

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