- What are charts of accounts? What are the different types of COA in FI?
Chart of accounts COA can be separated into two sorts −
Operating Chart of Accounts
It comprises all General Ledger accounts that are utilized to meet daily requirements in an organization.
Country Chart of Accounts
It covers the list of all General Ledger accounts that are needed to meet country legal needs. You can also allocate company chart of account to organization code.
- What are the different steps involved in G/L posting?
- Collect posting-relevant information from the payroll outcomes.
- Make summarized official papers.
- Accomplish the important postings to apt GL cost centers and accounts.
- What is the use of posting period variants?