Chart of Accounts Best Practice Structure

Note: If you are upgrading to Accounting Fall 2021 and you do not want to adopt the new Chart of Accounts Best Practice Structure, you must go to the Accounting Payments Plus feature in Feature Console and perform step 4 to transfer your current chart of accounts structure. If you do not, Payments Plus and Payment Selection will not filter the correct GLAs.

You can choose how to structure your chart of accounts. However, we recommend using the following Chart of Accounts Best Practice Structure. This is especially important if you are using Certinia Reporting, because our best practice structure ensures that the reports produced are accurate.

When setting up your general ledger accounts, we recommend you implement the reporting hierarchy shown in the table below. If you have upgraded to Accounting Summer 2023, your administrator will need to manually add these picklist values to the Trial Balance fields 1 - 3 on the General Ledger Account object and create the required dependencies. Refer to the “Upgrading Accounting” document for more information.

Trial Balance 1	Trial Balance 2	Trial Balance 3
Assets	Current Assets	Bank and Cash
		Accounts Receivable
		Prepayments and Accrued Income
		Debtors
		Inventory
	Fixed Assets	Land and Buildings
		Fixtures Fittings and Equipment
	Intangible Assets	Intangible Assets
	Other Assets	Other Assets
Liabilities	Current Liabilities	Accounts Payable
		Accruals and Deferred Income
		Employment Payables
		Tax Liability
		Creditors
		Employment Creditors
		Provisions
	Long Term Liabilities	Payable After 1 Year
		Creditors Due After 1 Year
Equity	Shareholders Funds	Stock
		Capital and Reserves
	Retained Earnings	Retained Earnings
Gross Profit	Sales Revenue	Sales Revenue
	Cost of Sales	Cost of Sales
Expenses	Operating Expenses	Administration Costs
		Equipment Hire and Repairs
		Marketing Expenses
		Motor Expenses
		Occupation Costs
		Payroll Costs
		Professional Fees
		Staff Costs
		Travel Expenses
	Depreciation and Amortization	Amortization
		Depreciation
	Interest and Tax	Finance Costs
		Taxation
	Other Income/Expense	Other Income and Expenses

Custom Setting - GLA Filtering

You can control GLA filtering in Payment Selection and Payments Plus by allowing custom Trial Balance combinations.

Use the following format (if set as NO FILTERING all GLAs are retrieved):

• TB1=Liabilities,TB2=Current Liabilities,TB3=Creditors,TB3=Provisions

Note: In accordance with the previous example, when using multiple selections, separate with a comma and do not add spaces.

To use custom filtering for trial balances you must enable the GLA Filtering custom setting. For more information, see Payments Plus Options.