Generate a range of nominal accounts for one cost centre

You can quickly create a new cost centreA segment of an organisation for which costs are required to be collected and formally reported on separately; e.g. a company division such as sales or production. with an associated range of nominal accounts at the same time using the Create Accounts for Cost Centre and Department routine. The routine models the new accounts from an existing set of accounts for a specified cost centre.

This routine is particularly useful when setting up the system for consolidation.

When you start the routine you are prompted to specify both the new cost centre code and the cost centre you want to base the new accounts on. For example, you have a range of existing nominal accounts using cost centre LON and you want to duplicate this range but use a new cost centre MAN. By specifying the existing code LON, the routine identifies all nominal accounts using the code. It then copies each identified nominal account and replaces the cost centre code with the new code specified; this example uses MAN.

New accounts are created with the settings specified in the source nominal accounts. These settings can then be amended. Balances from the source accounts are not copied to the new accounts.

• The new cost centre or department is added to the list of cost centres or departments.
• The new nominal accounts are added to your Chart of Accounts.

You must have:

• An existing cost centre and associated nominal accounts to base the new accounts on.