Topic: The way of designing the general ledger , accounts , groups , classes
Today when I'm working in FrontAccounting I realized that the questions asked when I'm creating new class is not enough to know more details about the classes of accounts
first of all the only question available you can find in the section of accounts classes which asking you is this class belong to balance sheet of profit and loss , normally we are answering this question by yes for assets and liabilities and owner's equity or capital and no for revenues and expenses , but in case I change the sequence of the classes and create it like this
the question here do the generated reports will be in a good shape ?
I don't think so , because for the developing purposes of the financial solutions the developer when designing the solution must take care about the needs related to the balance sheet and income statement and cash flow statement
I can assure that the reports depend on a fixed data which included in the original chart of accounts , I mean when they designed the queries they knew that the class of assets must be no. 1 and the class of liabilities must be 2 etc.
so to improve this we have to mention another question like this
is this class related to assets or liabilities or capital ? this will serve the balance sheet report
and if we intend to design cash flow statement we have to ask more questions etc.
and also the developers must take care about the flexibility of the solution and I don't think that every time any user will change the chart of accounts you will release new version of FrontAccounting !!
Abdelhamid & Co Certified Public Accountants & Auditors - UAE - Sharjah
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