Chart of Accounts

You can add accounts or locate existing accounts on the Chart of Accounts setup page. The Chart of Accounts page is where all balance sheet and income statement accounts are housed within the application.

Note: Only one user at a time is allowed to work in the Chart of Accounts page. Any subsequent users accessing this setup page are granted view privileges.

Active What-if Model

You can select the active model for your current session in the Chart of Accounts.

You can add unique accounts that only affect forecasting data to individual models.

Included in Models: Since changes to the structure of the Chart of Accounts affect every model, the same Basic Information panel fields always appear, regardless of the active model. You can use the Included in Models field to specify that an account is for use only in forecasting for specific models. An Information option appears to the right of accounts that are not included in the model that is active for the Chart of Accounts.

However, if any accounts were created for specific models other than the active model, then an informational message appears in the account list.

For this type of account, you only have access to the fields on the Basic Information panel.

Account Sections

The accounts stored in the Chart of Accounts are grouped into these three sections:

Assets/Interest Income
Liabilities & Equity/Interest Expense
Non-Interest Income/Expense

Initially, the Assets/Interest Income option is selected in the Account Type drop-down list with the account list collapsed so that only major subtotals appear. Certain accounts are preceded with either Expand or Collapse, which identifies a subtotal level. The subtotals and detail accounts that are indented and beneath the next-higher subtotal level add into that higher subtotal. You can expand or collapse to see more or fewer accounts.

Delete Accounts

Most accounts in the Chart of Accounts show Delete.

However, when you attempt to delete an account, the program scans the accounts to determine which ones can be deleted. If a calculation somewhere in the application, such as a formula, depends on this account, then a message informs you that the account cannot be deleted until the dependency condition is changed.

If an account containing data can be deleted, then you must select a similar account for the deleted account's data to be combined into. Combining the deleted account's data into a new account lets you delete an account without causing an out-of-balance problem in historical and forecasted time frames. Instrument detail information and account mapping for the monthly update process is also combined.

The destination account's fields remain the same. After the accounts are combined, the source account is deleted. Remember that other parts of the model, such as Favorite Reports can be affected.