COA Structure Vs COA Structure Instance
What is Chart of Accounts Structure? The Chart of Accounts (COA) is the account structure the organization uses to record transactions and maintain financial account balances. GL defines the COA structure in the Accounting Flexfield. The structure enables the organization to categorize accounting information during the recording process. We are generally confused about about COA Structure and COA Structure Instance in Oracle fusion. Let us try to understand the significance of both Chart of account is called accounting flex field and is used for financial reporting of an organization. In chart of account you have to define your segment. Segments are different dimensions of a business. They capture the different element of a business for financial reporting purpose. For example Company, Accounts ,cost center, Product line etc. capture the financial position of a company with different reporting tools. In each segment of Chart of Account you have to mention two important things-...