Discover how to configure the Financial Management Module of VIENNA Advantage.

Chart of Accounts Setup

A Chart of Accounts (COA) literally means a list of ledger accounts that are to be maintained in the client’s accounting system. Chart of Accounts is built around a system of double entry accounting, which has become a global standard for calculating how a business is doing financially.

Chart of Accounts is a tree view of the names of the Accounts (Ledgers and Groups) that a Company requires to manage its books of accounts.

Generally, the chart of accounts is configured after creation of Tenant in the system. Once the tenant is created, user needs to define tree for Chart of Accounts and then import chart of Account in the system using Excel templates given by VIENNA Advantage.

Managing chart of accounts through VIENNA Advantage provides single integrated view of all type of accounts which can be viewed through an interactive ‘Chart of Accounts’ screen under

Chart of Accounts is set-up at the client level as well as Organization Level in VIENNA Advantage.

Each account in the chart of accounts is typically assigned a name and a unique number by which it can be identified. Accounts numbers are often five or six digits in length with each digit might be representing the type of accounts.

The accounts are usually listed in the order of appearance in the financial reports. Most of the time, they are listed as follows:

Balance Sheet accounts

• Assets

• Liabilities

• Equity

Profit & Loss

• Income

• Expense

In addition to above accounts, off balance sheet accounts can also be defined i.e., Memo accounts.

Ledger accounts can be created one by one manually or can be imported through Excel template. One can find the excel template to Import chart of Accounts in the document repository.

Before creating any chart of Accounts, Account Element tree needs to be defined in the system. Refer the below section to define Account Element tree.

How to Create Chart of Accounts

Login with the Tenant Admin and open ‘Chart of Account’ screen.

Or search for ‘Chart of Accounts’ in the search utility available in the menu itself.

Open

Following screen appears once the system opens Chart of Accounts screen.

Open

This screen has two tabs named ‘Account Element’ and ‘Element Value’. On ‘Account Element tab, only the name and tree of chart of account is defined. However, on ‘Element Value’ tab, all the ledger accounts or their summary level accounts can be defined.

Click on ‘New Record’ icon to create a new chart of Accounts in the system.

‘Tenant’ and ‘Organization’ are pre-filled as ‘Tenant Name’ and ‘*’ Asterisk respectively.

Enter any name of chart of accounts in ‘Name’ field like ‘XYZ Chart of Account’ which should be unique and mandatory.

Enter the short description in ‘Description’ field which is an optional.

Enter the desired format of account code in ‘Value Format’ field. This could be numeric, alphanumeric or alphabets. User can enter any character from a-z for alphabets or 0-9 for numeric or a-z0-9 for alphanumeric or special characters like _, <space>, &, etc.

Select the ‘Type’ from dropdown. The Element Type could be an element or it could be a user defined.

Select ‘Tree’ to be linked with the Chart of Account from the dropdown. Refer the below section to know how to define a new Tree for chart of accounts.

Select ‘Natural Account’ checkbox if applicable. The natural account is often based on industry specific Chart of Accounts.

‘Update Currency Type’ is a process to update the currency rate type on each ledger account which is used for translation of ledger balances in another reporting currency for financial statements. This process could be run only if chart of accounts is already available in the system.

How to Create/ Edit Accounts

Following options are available in VA system to define ledger accounts for chart of Accounts:

1. Chart of Accounts Screen (Element Value Tab)

2. COA & Financial Group Form

3. Import Chart of Accounts Process

1. Chart of Accounts Screen (Element Value Tab)

Go to ‘Element Value’ tab to create new ledger accounts in the system.

Following details are to be entered or selected on Element Value Tab to create new ledger accounts:

Enter the ledger code in ‘Search Key / Value’ field. This should be unique and is mandatory to enter that. If you leave the search key empty, the system automatically creates a numeric number and assign to the ledger account.

Enter the Name of the ledger account in ‘Name’ field which is mandatory to enter.

Enter the optional short description in ‘Description’ field for this ledger account.

Select the type of ledger account in ‘Account Type’ field from the drop-down list.

A ‘Summary Level’ entity represents a branch in a tree rather than an end-node. Summary entities are used for reporting and not used for posting any transaction.

‘Account Sign’ indicates the natural sign of account as a Debit or Credit. This indicates if the expected balance for this account should be debit or credit. If set to natural, then account sign for asset & expense type accounts would be considered as Debit and account sign for Liability, Revenue & Owner’s Equity would be considered as Credit. Select the appropriate account sign from the drop-down list.

The ‘Post Actual’ indicates if actual values can be posted to this ledger account.

The ‘Post Budget’ indicates if budget values can be posted to this ledger account.

The ‘Document Controlled’ indicates if an account is controlled by a document, you cannot post manually to it.

The ‘Post Statistical’ indicates if statistical values and quantities to be posted to this ledger account.

The ‘Bank Account’ checkbox indicates if the ledger account is the bank account.

Select the ‘Bank Account’ from the drop-down list if applicable.

Balance in ‘Foreign Currency Account’ are held in the nominated currency and translated to functional currency.

‘Currency’ Indicates the Currency to be used when processing or reporting on this record.

Assign the applicable ‘Account Group’, ‘Account Sub-Group’, and ‘Master Account Type’ from the dropdown list. ‘Account Group’ and ‘Account Sub-Group’ are master records in VA System. These groups and sub-groups could be used for financial reporting.

Check on the Intermediate Account checkbox if the ledger code is used as intermediate account.

The ‘Allocation Related’ indicates if the values posted in this ledger account through GL Journal could be allocated to any invoice, Payment or Cash Journal.

The ‘Foreign Currency Revaluation’ indicates if the balance in foreign currency available in this ledger account needs to be considered for foreign currency revaluation at the end of financial period.

2. COA & Financial Group Form

Login with the Tenant Admin and open ‘COA & Financial Group’ screen.

Or search for ‘COA & Financial Group’ in the search utility available in the menu itself.

Following screen will be appeared once the system opens COA & Financial Group form:

Click on ‘Add Node’ button to create ledger account which are summary level ledger accounts.

Click on ‘Add Account’ button to create ledger account and fill in the information for a ledger account like search key, name, account type, etc.

Chart of Accounts can also be imported using excel template by click on

 button. A small parameter pops up as follows when user click on this button:

Select Chart of Account name in ‘Element’ field.

Select the excel sheet from the local system in ‘FileType’ field and press ‘OK’ to import the chart of account.

3. Import COA Process

Login with the Tenant Admin and open ‘Import COA’ screen.

Go to Financial Management > Accounting Structure> Import COA

Or search for ‘Import COA in the search utility available in the menu itself.

Following screen will be appeared once the system opens Import COA process:

Select Chart of Account name in ‘Element’ field.

Select the excel sheet from the local system in ‘FileType’ field and press ‘OK’ to import the chart of account.

To run this process on the server side, select ‘Background Process’ checkbox.

Once the COA is imported, following message appears on the screen.

Use of Excel Template

Following Excel Template can be used to import chart of accounts in VA System.

Open

Enter the values in respective column for each ledger account.

Tree nodes can also be defined in the excel template. If any ledger code is a summary level, then Type ‘Yes’ in Column G [Account_Summary].

To define the parent Child relation between two ledger codes, Define Value of parent ledger code in Column I [Account_Parent] for all subsequent ledger account which are child record.

Let us take an example:

Suppose a user wants to define the chart of accounts in system as following:

These accounts will be defined as per below screen shot:

Ledger account which would be child record, must have a account code of Parent account in Column I [Account_Parent]. If there is no Parent Account entered, then system will create the record at 0 level like ‘Asset’.

When user imports the excel sheet in VA as per above defined ledger codes, then system will create a hierarchy automatically based on parent accounts entered. System imports these records as follows:

How to Create COA Tree

Login with the Tenant Admin and open ‘Tree Configuration’ screen.

Or search for ‘Tree Configuration’ in the search utility available in the menu itself.

Following screen will be appeared once the system opens Tree Configuration screen:

Click on ‘New Record’ icon to create a new tree for Account Elements in the system.

‘Tenant’ and ‘Organization’ are pre-filled as ‘Tenant Name’ and ‘*’ Asterisk respectively.

Enter any name of tree in ‘Name’ field like ‘XYZ COA Tree’ which should be unique and mandatory.

Enter the short description in ‘Description’ field which is an optional.

Select ‘C_ElementValue’ table in the ‘Table’ field.

Select ‘Element Value’ in ‘Type| Area’ field. The Type| Area determines the type of tree is.

‘All Nodes’ checkbox if selected, all nodes must be in the tree. That means any record created in the selected table must be included in the tree.

‘Process Now’ button synchronizes the record on the selected table with tree if ‘All nodes’ is selected.

Document Type

Document Type in the VIENNA Advantage is defined to distinguish different business transactions.

For example, a transaction like a Customer Payment and Vendor Credit Memo is distinguished with two different document types

Document Types define the parameters, controls, and processing rules for transactional documents as well as a name to be printed on the document.

While posting a transaction, the type of document must be specified in the header section. Document numbers uniquely identify every transaction within a financial year in an organization. The number ranges can be year-dependent which means that every year new number ranges have to be maintained. There are many document types maintained in the VIENNA Advantage System such as Orders, Invoices, Shipments, GL Journals, Production, and Inventory Move along with others.

Define a new Document Type

VIENNA Advantage come with some default Document Types. But based on your localization needs you can define a new Document Type within VIENNA Advantage application.

All the fields highlighted in asterisk (*) are to be mandatorily filled to create Document Type.

Or search for ‘Document Type’ in the search utility available in the menu itself.

The following screen appeared once the system opens the Document Type screen:

The User can click on the ‘New Record’ icon to create a new Document Type in the system.

The ‘Tenant’ is automatically filled by the system.

Select the ‘Organization’ from the dropdown field.

Enter a ‘Name’ for the document type which is mandatory.

Enter a short ‘Description’ for the Document Type which is an optional. 

Enter the ‘Print Text’ for the document. It is the label text to be printed on a document or correspondence.

Enter optional ‘Document Note’ for the document. This note can be used to print on order or invoice.

Select ‘GL Category’ for document type from the dropdown list. By default, ‘Standard’ General Ledger category would show. However, that can be changed later on.

Select the ‘Document Base Type’ from the dropdown list. The Document Base Type identifies the base or starting point for a document.  Multiple document types may share a single document base type. E.g., GL Journal and GL Batch would have the same document base type as GL Journal.

Enter the optional ‘Posting Code’. Posting code is used for posting the documents. It is the search key for the Posting document type.

Select the optional ‘Posting Document Type’ from the dropdown list. Posting document is linked to post the transaction.

Check the ‘Active’ checkbox as True for the Document Type to be used. If the record is not active, it will not be available for selection.

Select the optional ‘Default’ checkbox if the user wants to make a particular record as a default value.

Select the optional ‘Release Document’ checkbox. This checkbox has to be selected in case the document type is type of order and is release order to the ‘Blanket Order’.

Select ‘Treat as the discount’ checkbox if applicable. This checkbox is only visible if the field Document Base Type is ‘AP Credit Memo (APC)’.

Select the ‘Sales Transaction’ checkbox. This checkbox has to be true in case the document is related to Sales. E.g., AR Invoice

Select ‘Return Transaction’ checkbox. This checkbox has to be true in case the document is related to the return. E.g., AR Credit Note.

Select the ‘Sales Quotation’ checkbox. This checkbox is used in case the document base type is the Sales Order.

Select the ‘Batch Document’ checkbox. This checkbox is only visible in case the Document base type is the GL Journal.

Select ‘Document is number controlled’ if the document sequence has to controlled and to be linked with sequence.

Select ‘Overwrite Sequence on Complete’ if the business wants to set a separate document number for completed documents.

Select ‘Overwrite Date on Complete’ if the business wants to update the document date at the time of completion of the transaction.

Select optional ‘Print Format’ from the dropdown list. The print format is used for Crystal reports. The print format determines how data is rendered for print. To know how to create any print format, refer the later sections of this document.

Enter the optional ‘Document Copies’. The Document Copy indicates the number of copies of each document that will be generated.

Select optional ‘Mail Template’ from the dropdown list. It is used for text templates for mailing.

Select optional ‘Report Format’ from the dropdown list. The report format is used for Composer and Crystal reports. To know how to create any print format, refer the later sections of this document.

Select optional ‘Tax class from the dropdown list. This checkbox is used if the user wants to specify the tax-related information according to the tax class created.

Click on icon for saving the record.

Document Sequence

Document sequence is a unique document number generated by VIENNA Advantage ERP/CRM application while saving a particular transaction such as Invoices, Debit/Credit Notes, Sales / Purchase Orders, etc. all these transactions require a document number.

Only one document sequence can be linked with a Document type however document sequence can be defined for organization Level in a single sequence record.

Create a new Document Sequence

Or Search for ‘Transaction Sequence’ in search utility available in Menu.

The following screen appeared once the system opens the Document sequence:

Complete the information as shown below to create a new Document sequence:

Open the ‘Transaction Sequence’ window. 

Add a new record on the Sequence tab.  

Enter a ‘Name’ for the transaction sequence which is mandatory.

Enter a short ‘Description’ for the transaction sequence which is an optional. 

Select the ‘Auto Numbering’ check box. The Auto Numbering checkbox indicates that the system will assign an auto-generated number. 

Enter ‘Increment’ for this Document Sequence. The Increment indicates the number to increment the last document number by to arrive at the next sequence number.

Enter ‘Current Next’ for this Document Sequence. The Current Next indicates the next number to use for this document after using the same is incremented with defined value in the increment field 

Enter a ‘Prefix’ and ‘Suffix’, if desired, for this Document Sequence. The Prefix indicates the characters to print in front of the document number.  The Suffix indicates the characters to append after the document number. 

The Organization Level indicates sequence can be defined organization-wise. If the Organization Level checkbox is checked then you will have to define the ‘Org Column’ field. Most of the tables have same Format text “AD_Org_ID”.

To see the Format text, click on the extreme Right side of the Organization column on the respective table or screen, you will get three options- Zoom, preferences, and refresh.

Click on the Preferences, you will get the following display:

Copy the column name and enter this at the Org Column so that the right effect will come in the system while defining the multiple sequences based on the organization.

The ‘Restart Sequence Every Year’ checkbox indicates that the document sequencing starts from the number defined in the field ‘Start No’ on the first day of the year. If the Restart Sequence every Year checkbox is checked then the Restart Sequence every month checkbox will show up which indicates that the document sequencing starts from the number defined in the field “Start No” on the first day of the Month.

The ‘Date Column’ indicates the date_column_name to be used for sequence handling. For example, if the user wants to restart the sales order document number every year based on the order date, then the user needs to enter the “DateOrdered” or some other date column in the Date Column field. 

User has to enter the field reference in the ‘Date Column’ Field from where the user wants to pick the date. Suppose the user has to create a document sequence for the Invoice (Vendor) window then the user will pick a date from the Invoice (Vendor) window, there are three dates in that window the user can use the Account date or some other date for sequence handling. To identify the particular field the user needs to Login with System Administrator Role.

‘Append Years as Prefix’ checkbox indicates that year should be appended before the prefix in the document number. For example; [2022PO10005] where 2022 is the year, PO is the prefix and 10005 is the document number. If Append Years as Prefix checkbox is checked then checkbox Append Month After Year will be visible which indicates that Month should be appended after the year in the document number.

‘Start No’ field indicates that starting document number for each year or If Organization Level checkbox is checked then for each organization document sequence will start with this number.

‘Maintain Separate Trx’ checkbox restricts to maintain separate transaction for document number.

If the Organization Column format is not correct. Document Sequence will accord the predefined document sequence that is defined for the transaction window. 

If Organization Level or Auto Numbering checkbox checked then Tab: “Sequence No” will be editable and the Current Next field on Tab: “Sequence No” used instead of the header tab current next field. 

If anyone from the three fields ‘Suffix/Prefix’ or ‘Append Years’ as Prefix is defined at the Sequence No. tab. then System will pick all three field values from the Sequence No tab otherwise pick information from Document Sequence Header. 

Sequence Tab will be displayed as follow:

To define the different document sequence-based on each Organization then the user needs to move on to the ‘Sequence No’ tab and needs to select the Organization from the Organization drop-down.

Enter the Year in the Year & Month section.

Enter the Current Next number and define the Prefix & Suffix.