Multilevel, national, or double chart of accounts structure
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.
Mexico specifics
The Mexican chart of accounts must include a field for account groupings. Accounting groups are defined by the tax authorities in Annex 24 of the 2014 Omnibus Tax Resolución Miscelánea Fiscal, Accounting in Electronic Media.
How Infor meets the requirement
See the Account setup and chart of accounts setup sections in the Financials Setup and Administration Guide.