Create Chart of Accounts

After the budget unit structure is complete, create a budget-specific Chart of Accounts (CoA). CoA structure follows the same logic as the budgeting structure, including Sum Lines, used for summarizing all subordinate lines, and Main Lines where budgeting is done.

To create a Chart of Accounts, complete the following steps:

1. In the Name column, enter the name of the Chart of Accounts.
2. In the Type column, select whether the line type (which are detailed later in this document). Line types are used for defining how information on this particular line is provided.
3. In the Income column, select the check box to indicate if this account is revenue or de-select to indicate if this is a cost income.
4. In the Type column, indicate if the distribution key is supposed to be used for this particular account. Distribution Keys are explained later in this document. Note that in right side assistant budget CoA can be linked to actual CoA from Maconomy. This link will be later on used in reporting (budget vs. actual).

If needed, add dimensions to identify a particular account. However, note that they cannot contradict dimensions set in the budget hierarchy.