March, 2024
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Elegant Chart of Account Design Maintenance
Structuring a chart of accounts is a delicate balancing act. Success is found at the intersection of satisfying varying financial and regulatory reporting audience requirements, while at the same time keeping the number of accounts as efficient as possible. When achieved, the result is an elegant chart of accounts. While planning for an elegant chart of accounts is one thing, as much as we would like to be able to account for every possible future circumstance, maintaining an elegant chart of accounts is a daily battle. Today we’ll examine how the new ability to update account numbers in Sage Intacct released in R4 2023 can be employed strategically to maintain your elegant chart of accounts long after implementation.