CoA Creation:  Step Three

The Chart of Accounts entry fields that must be populated will vary depending on the type of account being created.  The fields on this screen of the wizard are not configurable since they are needed by the system to perform account processing.  

The required fields that must be populated regardless of the account type are:

• Effective From Date

• Entry Description

• Type

The rest of the fields are for additional information about the account, depending on the type of account being created.  The values of the fields on this screen of the wizard are saved in AsChartOfAccountsEntry table.  When a transaction or suspense generates an accounting record in AsAccountingDetail it is associated to this table via the ChartofAccountsEntryGUID.  The AsChartOfAccountsEntry is associated to the Entity via the ChartofAccountsEntityGUID in the AsChartOfAccountsEntity table, which is associated to the account via the ChartOfAccountsGUID in the AsChartOfAccounts table.

Refer to the Chart of Accounts Relationship Diagram and the Chart of Accounts Entry Database Definition for additional information.  

Steps for CoA Entry

1. Enter the necessary entry information according to the descriptions given below.

2. Click Next to move on to Step 4 to add Criteria or Finish to complete the account set-up.

Entry Field Descriptions

• Account Number Format: This is not supported in this release.  
   

• Effective From Date:  This date signals that the account can start to use the Account Entry detail for accounting.  This information is matched to the activity’s effective date.

Note: The effective date of the entry must be the same as or prior to the transaction's effective date in order for accounting to be performed.

• Effective To Date:  The last day accounting can be performed using the AccountEntry detail record of this account.  This information is matched to the activity’s effective date.
   

• Entry Description:  Meaningful description of the account and the entry record details.  

• Debit/Credit:  Select whether the account is a debit or credit.  Populated by AsCodeDebitCredit.

Note:  A debit or credit does not mean a decrease or increase. Debits and credits are recorded as positive numbers. The double entry system in a company’s general ledger requires each transaction to affect at least two entries, creating a balance within the system. If one account is debited then another must be credited, allowing for a total of all debits and credits to be equal. Each account identified in the CoA has two columns; one for debits and one for credits. The type of account and the column the entry is posted in determines if it is a decrease or an increase. The type of account determines whether a debit or a credit is a loss or gain.

8. Type:  In step two of the wizard, the suspense box was checked or a transaction was associated with the account.  If suspense was checked then Suspense Amount will be pre-populated in this field.  If a transaction was associated with the account then select either MathVariable, ByFund, TotalOfFunds or Disbursement.
    

• MathVariable:  Select MathVariable when the amount value is in a MathVariable in the transaction’s configuration.  Enter the exact name of the Math Variable in the Accounting Amount field.  Accounting is performed on the value of this variable.  This is used for General accounting purposes only.  There is no sub-account accounting generated on this value.

• ByFund: Select ByFund to generate sub-account accounting (fund accounting).  When selected the Gain/Loss, Flip On Negative and Transaction Money Types fields are applicable for Fund type entries.  The number of accounting records created for this type depends on the number of funds that a specific money type affects in this activity and the value of Fund Type.  

Example:

Account Detail record shows Accounting Type is ByFund and Fund Type is Variable.  A policy that has five funds, two fixed and three variable, will then have up to three records created for accounting purposes, depending on the variable funds that are affected by the specific money movement of the associated value.  If the Gain/Loss checkbox is checked, accounting is generated on the gain or loss experienced by the company because of the money movement in the affected variable funds.
 

Note: The Assignment tag must be present in the transaction if ByFund is used.
 

• TotalofFunds: Select TotalOfFunds when all funds will be affected.  When selected the Gain/Loss, Flip On Negative checkboxes and Transaction Money Types are enabled.  Sub-account accounting is not generated.
  .

• Disbursements:  Select Disbursements when the activity performs a disbursement.  When selected the Original Disbursement Status, Do Reversal Accounting, Forward Accounting Status and Reversal Accounting Status are enabled.  The Original Disbursement Status could be pending, recovered or recoverable. Depending on the status of the disbursement at the time the activity executes, the accounting is generated using the appropriate Chart of Account entry record.  

• Scenario 1: Create three Chart of Account Entries, one for each of the Original Disbursement Statuses.  The first time the Disbursement activity is processed, the accounting will be performed using the Chart of Account Entry that has the Original Disbursement Status set as Pending.  If the parent activity is reversed or recycled, when the disbursement is in an active status, then the accounting will be done using the COAEntry that has the Original Disbursement Status of Recovered.  
   

• Scenario 2:  Make sure the <Disbursement> tag of the Disbursement transaction has the attribute RECOVERABLE set to Yes.  Processing a Disbursement activity will perform the accounting using the Chart of Account Entry record that has the Original Disbursement Status of Recoverable.
   

• Gain/Loss:  Check if type is either ByFund or Total Of Funds.  When checked accounting is performed on the Gain/Loss amount for all of the funds.  
   

• Flip On Negative:  Check if type is ByFund or Total Of Funds.  When checked and the amount that accounting should be performed on is Negative, then Credit/Debit records are flipped.   

Note:  You can only select either Gain/Loss or Flip on Negative.  They are mutually exclusive.

• Accounting Amount:  Only use when the type is either MathVariable or disbursement.  Enter the name of a math variable that is in the associated transaction on which the accounting should be performed.  DisbursementAmount will be auto-populated if it is a disbursement type entry.
   

• Fund Type:  Fund type that accounting should be performed for.  Populated by AsCodeFundType.
   

• Transaction Money Types:  Only enabled when the type is ByFund or Total Of Funds.  More than one money type can be selected. The money type specified is used as a filter to the activity’s valuation records.  Accounting is generated for that account only when the money type in the valuation record matches with the money type selected for that account.  This list box is populated by AsCodeMoneyType.
   

• Original Disbursement Status:  Only enabled when type is disbursement.  This value is used to make adjustments to AsDisbursement records that have a matching status and are still applicable (not already adjusted to zero).  
   

• Do Reversal Accounting:  Check this if accounting information needs to be captured when reversing this activity.  This is usually always selected, as collecting information for reverse accounting is necessary.  When checked, the reversal of the activity will generate the exact opposite accounting from the accounting records previously generated by the activity.
   

Note:  If the Do Reversal Accounting check box is selected and a reversal is processed then it will be viewable via Accounting Detail from the results of the active reversal of the activity.  

• Forward Accounting Status:  Only use when type is disbursement.  Used to track if all information was fulfilled to perform a disbursement.

•  Active:  Select when indicating all information was fulfilled.

• Pending:  Select when indicating more information is required before processing the disbursement.
   

• Reversal Accounting Status:  Only use when type is disbursement.  Used to track whether a reversal disbursement activity is active or pending.

• Active:  Select when indicating all disbursement was fulfilled.  

• Pending:  Select when indicating more information is required before processing the reversal.

AsChartofAccountsEntry Database Definition

AsChartofAccountsEntry Database Table
 

• AsChartofAccountsEntry:  The Debit/Credit entry for an account that must be tied to transaction or suspense.

• ChartOfAccountsEntryGUID: Unique identifier for this table.

• ChartOfAccountsEntityGUID:  GUID to the AsChartofAccountsEntity table.

• EffectiveFromDate: Effective Date the entry will be effective from.

• EffectiveToDate: Effective Date the entry will be effective to.

• DebitCreditCode: Indicates 01 for debit or 02 for a credit.

• EntryDescription: Description of the debit or credit.

• AccountingTypeCode: Stores the code for the way the amount for the accounting will be obtained. 01 for Total of Funds, 02 for ByFund, 03 for MathVariable, 04 for suspense, 05 for disbursement.

• AccountingAmountField: Name of the MathVariable to use as the amount if AccountingTypeCode is set as a type MathVariable.  For disbursements, this is automatically set to DisbursementAmount.

• GainLossFlag:  Indicates if the debit/credit amount will be calculated based on gain/loss values.

• FlipOnNegativeFlag: Flips credits to debits and vice-versa when an amount is negative.