The Case for Multidimensional Accounting

The multidimensional chart of accounts is that the Executive Series ledger provides a versatile and powerful thanks to track and report on your business. Table of account dimensions also is often mentioned as a chart of account segments. 

The Executive Series chart of accounts requires a minimum of the natural account dimension, company, and ledger type. The natural account is what most people consider because of the ledger account, and for easy general ledgers. It's the revenue, expenses, assets, and liabilities defined.

The ledger type is financial or statistical. The corporate dimension is employed in multi-company accounting. Additional sizes could also be determined to trace things like department, cost center, location, product/service type, region, or project.

Dimensions are defined to possess a minimum and maximum size and should be alphanumeric. An aspect may have a minimum scale of zero, which suggests it is often left blank.

The financial report writer is meant to permit you to report by dimension. You’ll use the inbuilt structure template to limit (filter) your reports to restrict reporting on just those dimensions you would like to ascertain. You’ll even report across companies (consolidated reporting) on specific aspects.

Use the Financial Report writer's column template to interrupt out a dimension by column for a side by side comparison. For instance, if you would like to understand your most profitable location, you'll generate your financials by place to list them.

For instance, to trace 3 locations, five departments, and five projects, you'd need 75 account code combinations—and you'd find yourself with a sophisticated, unmanageable set of codes. Adding a replacement location or department could potentially force you to feature many additional accounts. As your business changes, there is no got to add hard-coded segment combinations.

Track Your Business like Never Before

Unlike traditional accounting systems, Tagging with dimensions, rather than assigning transactions to hardcoded individual accounts, enables you to feature business context to your data easily. Once you create a size, you'll use it for any transaction—general ledger, receivables, payables, Time, revenue management, fixed assets, and more. As your business changes, add the size you would like to track what's important to your organization.

Streamline Your Reporting & Save Time

Dimensions will fundamentally improve your reporting, making it easier for you to urge fast answers to your business questions. Aspects are integrated into the interface of the easy-to-use financial report writer. It's simple to look at performance from any individual approach you would like. For instance, you'll go from a typical earnings report to profitability by project or revenue by geography with a couple of clicks.