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Creating a Chart of Accounts Structure

Corporate Chart of Accounts Structure

To create a corporate chart of accounts structure:

1. Click the Chart of Accounts Structure tab.
2. Click New next to Recent Chart of Accounts Structures on the home page.
3. Specify a name.
4. Select Is Corporate. You do not need to specify default GLAs for a corporate chart of accounts structure.
5. Select Active when you are ready for this chart of accounts structure to appear in lookups.
6. When you have finished, click Save. You can also click Save & New to save the changes to the current record and then immediately begin to create another.

Local Chart of Accounts Structure

To create a local chart of accounts structure:

1. Click the Chart of Accounts Structure tab.
2. Click New next to Recent Chart of Accounts Structures on the home page.
3. Specify a name.
4. Leave the Default Corporate GLA and Default Local GLA fields empty.
5. Click Save.
6. Open the record of the GLA that is to be the default local GLA and assign this local chart of accounts structure to it.
7. Save the GLA record.
8. Open the record of the GLA that is to be the default corporate GLA and check that the Chart of Accounts Structure field is blank or shows the corporate chart of accounts structure.
9. Return to the local chart of accounts structure and select the default local and corporate GLAs. These default GLAs are used as suspense accounts when a transaction is posted and no mapping has been defined for a corporate or local GLA used on the transaction.
10. Select Active when you are ready for this chart of accounts structure to appear in lookups.
11. When you have finished, click Save. You can also click Save & New to save the changes to the current record and then immediately begin to create another.

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