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Define Accounts

In ARCHIBUS, an account can be an internal entity to which you charge costs (such as MAINTENANCE 2007) or an outside company to which you pay or receive funds. You develop accounts so that you can associate costs with them, rather than with a specific department. ERP financial systems typically map General Ledger account codes to the Accounts table.

For example, suppose your company needs to track the maintenance costs related to an expansion project involving many divisions in the company. To charge the costs to the project's budget, you need to establish an account for the project.

You can associate accounts with Chart of Account Sources you define. The application can then summarize cost transactions by Chart of Account Source Groupings.

If you want to charge property, building, or lease costs to accounts, you can define the accounts when adding recurring costs for these portfolio items.

Accounts are used in several ARCHIBUS applications, including:

• Lease Administration
• Cost Administration
  
• Strategic Financial Analysis
• On Demand Work
• Preventive Maintenance
• Energy Management
• Service Desk

Account hierarchies

So that you can track costs in greater detail, you may wish to develop an account hierarchy in which parent accounts contain multiple child accounts. These child accounts, in turn, can be broken down to further accounts.

Fop example, you might have a hierarchy of four levels:

• Assets (Accounting Super-Class )
  • Revenues (Accounting Class)
    • Deposit Interest (Synthetic Account)
      • Deposit Interest from product X (Analytical Account)
      • Deposit Interest from product Y

The HQ sample data uses a numbering convention such that 10000 is the parent account and the next-level child accounts are 10100, 10200, 10300, and so on. However, you can use any numbering convention that you choose.

For each account, the account hierarchy tree shows you the hierarchy and separates each hierarchy level with the bar (|) symbol.

When you delete an account, you automatically delete all of its child accounts.

To define accounts:

1. Select the Define Accounts task.
2. Optional: drill down to the parent account to which you want to add this account. If you want to create a top-level account, make sure that no parent account is selected in the hierarchy tree in the left pane.
3. At the top of the Accounts selection list, click Add New.
4. In the Accounts section on the right, complete the following fields:

5. Save your record and the system displays it under the appropriate parent record and displays the account's complete hierarchy.