Classification and account rollup details
The Accounts screen organizes your company's Charts of Accounts, Classifications, and Account Rollups to manage financial data in ONESOURCE.
The
Accounts
screen shows the structure and other information about each of the Charts of Accounts
a user's company maintains in their financial systems. Once defined, you can use these Charts of Accounts
to manage financial data as it arrives into ONESOURCE. This gives context around the information and how it relates to other information.There are 3 related areas in
Accounts
:- Charts of Accounts- contains information about the accounts in a specific Chart of Accounts.
- Classifications- financial structure to which the account relates.
- Rollup- map multiple Classifications or accounts to accounts associated with master accounts.
ONESOURCE gives a predefined Classification standard that Thomson Reuters has established and maintains. The Classification has 3 predefined levels. Additionally, it enables the ability to add a 4th level that you can define to capture the Account Grouping level.
Accounts that are associated with the Classification explain what type of financial data is contained in the Account. You can then add accounts with different coding structures. ONESOURCE applications can use the Classification standard to channel Trial Balance data to areas in the application.
Related Content
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Company Info menu
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