Multi-level, national, or double chart of accounts structure

The need for a multi-level structure occurs mainly in countries that require a legal chart of accounts (COA). Typically, in this scenario, an additional COA is required, for example, an analytical or corporate COA. Multiple account books are maintained in parallel for the multiple COAs. The legal chart might follow the secondary chart in the COA sequence, or vice versa.

Parallel currency accounting, also known as multi-base currencies or dual currencies, can include examples such as local GAAP, corporate reporting, and functional accounting. In this case, the base currencies are additional to the multiple transaction currencies. Any or all of these can be different for each of the base currencies: accounting calendar, chart of accounts, revaluation rules, and year-end adjustments.

Poland specifics

Parallel currency accounting is not required in Poland.

How Infor meets this requirement

SyteLine provides Multi-Financial Sets of Books (Multi-FSB) functionality for businesses that require reporting for one or more ledgers in addition to the General Ledger. Each new ledger can contain any combination of a fiscal calendar, chart of accounts, and currency that are different from those used for the standard General Ledger. Each combination creates a separate financial set of books, and you can set up as many as you need.


Application	Setup or Actions
ERP	A setting on the General Parameters form is used to enable multi-FSB functionality. With this option selected, you can define and activate multiple financial sets of books using the SyteLine multi-FSB forms. Many of the forms function similarly to the standard General Ledger forms. For more information, see the help topic Multiple Financial Sets of Books Overview.