How-to: Define account extensions

Created by Erik Akerlund, Modified on Mon, 20 Feb 2023 at 02:28 PM by Erik Akerlund

Defining account extensions


When setting up a dynamic coding for the accounting, account extensions is usually a vital part.

This article describes how to define those extensions.

Step-by-step guide

First, you need to decide which information you want to use for the dynamic accounting.

The following codes can be used for adding account extensions:
Accounting Bank, Broker, Counterpart, Currency, Custody, Deal Type, Instrument, Legal Entity, Commodity, Strategy, Trader and Transtype.

 

  1. Go to Register > Setup > System parameters and click on the accounting tab.


    Choose your account extensions in desired order.

  2. Next, go to Back office > Chart of Accounts



    The columns under "Account extensions" refers to the configuration of account extensions in the previous picture (system parameters). First column equals "Ext 1: Accounting bank", second "Ext 2: Currency" etc. Define per account numbers if and what extensions by entering an 'X' in the account extensions column. For example, the Accounting bank extension will then look for a translation code for a certain Account name in Register - Portfolio Codes Translation - Accounting Banks. In the translation field the Account in the ERP-system is filled in.

    In Accounting instructions the Amount type fields for the bank account is entered with a predefined name in the Chart of Accounts and the exclude checkbox (after the Account field) is checked. Then the whole translation code will be shown in the accounting file. On the transaction the right bank account name/account no must be entrered (easily done automatically with a set up of Default bank accounts).
    When the 'Journal entry export' is run to create the export file the various parts in the account string (Account number including all account extensions) will be arranged in the export file according to the accounting systems specifications.For more information regarding System paramerters, Accounting tab see System Parameters

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