When creating a new company database many decisions that derived from the nature of the given business should be made. Some of these decisions are irreversible, and hence should be carefully considered. One of those is related to the chart of accounts structure which is the foundation of the financial management and reporting.
SAP Business One enables you to set a segmented chart of accounts – according to this method the account codes reflect the structure of the organization. For example departments, divisions, projects, etc.
Such structure may increase transparency and clarity of financial reporting and day-to-day work.
If you choose to work with segmented chart of accounts, the Account Code Generator becomes available, allowing you to assign account codes that reflect the company structure.
Available in SAP Business One, version for SAP HANA and SAP Business One. This tip and all the other tips are available on the Tip of the week community page. You can also visit the Implementation Arena for useful implementation tips.