To track and maintain financial information in an organization, we can set up a chart of accounts, which is a collection of accounts that define a financial framework. A chart of accounts can be shared and used by any legal entity in an organization. However, main accounts must be unique to a legal entity. We can select the chart of accounts that can be used by a legal entity in the Ledger form.
Several factors must be consider in creating the structure of chart of accounts for organization, including the following:
- The reporting requirements of the country/region where the organization is based
- The reporting requirements of the legal entity
- The degree of specification needed, for both external organizations and our organization
Chart of Account is very easy to import using DIXF in AX. I will show you how to do it step by step.
First go to General ledger>Setup>Chart of…
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