Overview

Chart of Accounts (COA) is an index of all the financial accounts in the general ledger of a company. The chart of accounts is often hierarchical in nature and broken down into subcategories.

Leapfin allows organizations to configure their chart of accounts, so that account data stay consistent between Leapfin and the rest of financial systems, such as Netsuite.

Each ledger account with in COA contains following properties.

• Account Number: numeric value presenting the ledger account.
• Account Name: name of the ledger account.
• Unique Account ID: a unique id generated by Leapfin baed on account number and name.
• Account Group: category the ledger account. For example, "Asset", "Liability", "Income", etc.
• Increasing Side: increasing side of the ledger account. Acceptable values are "dr" and "cr". For example, if increasing side is "dr", the all debts will be displayed as positive numbers and all credits will be negative.

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Chart of Accounts Structure

Leapfin currently supports only two level of hierarchies for COA: ledger account and account group.

Modify COA

Account Number, Account Name, Account Group, and Increase Side can all be modified after COA is created. The only non-editable property is Unique Account ID, which the hook that associate journal entries with ledger accounts.

Once a ledger account is modified the changes are automatically applied to all historical and future JE. If the intention is to modify the account only for future JE, then a new ledge account should be create instead of modifying the existing one.

Deletion of ledger account is not allowed if any JE has been booked in that account. Otherwise, the JE data will be compromised. Instead, ledger accounts that are no longer needed can be simply abandoned by removing its usage in transaction scenario configurations.

Query COA

Chart of accounts information is stored in two tables. The VW_LK_ACCOUNT table contains details of each ledger accounts, and the VW_LK_ACCOUNT_GROUP table contains details of account groups.

Data schema for VW_LK_ACCOUNT table

Data schema for VW_LK_ACCOUNT_GROUP table