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Chart of AccountsChart of Accounts

 

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Chart of Accounts features

 

 

 

	Option	Function	Notes
1	Totals filter	Show or hide all Total columns
2	Rounding filter	Show or hide all Rounding (Round) columns
3	Unused filter	Show all allocations or hide all unused allocations
4	Subconsol filter	Show or hide the Subconsol columns	Subconsolidation filter and columns only appear if at least one Division is ticked as Subconsolidation in Edit entity
5	Import	Import customised descriptions from Excel or a different report	See Chart of Accounts import format See Import Chart of Accounts descriptions from a different report
6	Clear rounding	Deletes all rounding	Deletes rounding from all 'Round' rows and columns
7	Export	Export to Excel	Exports to Excel including any filters
8	Code	Chart of Accounts code	A full list of codes is available here
9	Description	Chart of Accounts description	Click to edit the description Edited descriptions will be shown in red text Import descriptions with #5 or import from another report Descriptions can also be edited directly in the table they appear in
10	Rounding	Round any account, in any of the rounding (Round) columns	The relevant Total column will be adjusted by the rounding amount Rounding adjustments can also be added by editing directly in report tables See Understanding the report screens Rounding adjustments are not captured in the Audit Trail - Comprehensive output.
11	Subconsol Current	Current subconsolidation total	Use these columns to post any subconsolidation adjustments (such as eliminations) The subconsolidation balances are rounded numbers, so the number entered will be multiplied by the report rounding (e.g. thousands, multiplied by 1000) and populate in the 'ADJ' column of the current and prior period 'Audit Trail - Subconsolidation (Excel)' in Outputs. E.g. To make an adjustment of 571,000 enter 571
12	Subconsol Prior	Prior subconsolidation total	See #11
13	Reset description	Resets the description(s)	Reset one description by clicking the reset icon for the row Reset all descriptions by clicking the reset icon in the table header

 

 

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Chart of Accounts import

To import customised Chart of Accounts descriptions from an Excel file:

• Click Inputs > Chart of Accounts
• Click Import
• Select the file to import
• Click OK
• This will update the Chart of Accounts descriptions as follows:
  • Source file has a custom description, current report does not have a custom description, the description will be updated in the current report
  • Source file and current report have custom descriptions, the description will be updated in the current report
  • Source file does not have a custom description, current report does have a custom description, the description will not be updated

 

The required format of the import file is:

 

	Column A	Column B
Column	Allocation	Description
Required	Required	Required
Notes	5 characters	150 characters maximum length

 

 

The following image shows a valid sample file:

 

 

 

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Import Chart of Accounts descriptions from a different report

To import customised Chart of Accounts descriptions from a different report:

• Click Inputs > Chart of Accounts
• Click Import
• Select to import from A different report
• Select the entity and report containing to import from
• Click OK
• This will update the Chart of Accounts descriptions as follows:
  • Source report has a custom description, current report does not have a custom description, the description will be updated in the current report
  • Source and current report have custom descriptions, the description will be updated in the current report
  • Source report does not have a custom description, current report does have a custom description, the description will not be updated

 

 

Alternatively:

• Click Inputs > Import report
• Set Chart of Accounts edited descriptions to Yes
• Click Import report and follow the prompts
• This will update all Chart of Accounts descriptions

 

 

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How totals are calculated for Interim Reports

For Interim Reports, as the comparative period covers two different periods (generally, statement of profit or loss and other comprehensive income being 12 months ago and the statement of financial position being 6 months ago), the interim performance and the prior position balances are ignored.

 

When preparing an Interim Report, the 'Prior' totals are calculated as follows:

• Statement of profit or loss: aggregate of 'Trial Balance' and 'Adjustments' from the prior columns
• Statement of financial position: aggregate of 'Trial Balance' and 'Adjustments' from the annual columns

For Interim Reports, as an alternative to importing Trial Balances and entering adjustments into the 'Annual' columns, to populate the statement of financial position, comparative balances can be entered via Rounding in the 'Prior Round' columns in Inputs > Chart of Accounts.

 

For example: