Just installed FA and looked over the COA US GAAP 4 digits and realized that doesn’t follow the standards:
COA Class should be:
1. Assets (DR)
2. Liabilities (CR)
3. Capital/Equity (CR)
4. Income (CR)
5. Cost/Expenses (DR)
6. Unreconciled Transactions (both DR/CR)
Question: What is the impact on FA if these changes are made?
I see this a problem since most forms that does the posting to GL would need to change as well.Thank you,
AHR
PS: My wish is to work with a handful of programmers to develop better business software not necessary narrowed to accounting but including as such since it is part of the business. Time is what I do not have.
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