Design Considerations for Oracle Chart of Accounts/Accounting Structure

‘Accounting Structure’ is considered as the foundation of an ERP system. Analysis of the current system, along with the needs and objectives of the future ERP system must be conducted in detail to design an effective accounting structure. Many ERP projects have failed due to improper and poor design. Early identification of incorrect design helps to review and come up with the revised version which better suits the organization needs.

Many projects realize about the improper design of ‘Accounting Structure’ during the later stages of projects in UAT (User Acceptance Test) or sometimes long after its implementation, which results in re-implementation of the project leading to wastage of vast amount of money and resources.

Incorrect design of ‘Accounting Structure’ will lead to:

  • Inability to capture required data into the system.
  • Inability to generate the required reporting from the system.
  • Inability to meet the project objectives and goals.

To design a robust and optimum accounting structure for an ERP, we need to consider the below mentioned points in detail.

1. Current System Analysis

2. Reporting Requirements

3. Industry Specific Needs

4. Data Security and Operations

5. Segment Structure

Read full article here – https://www.evoketechnologies.com/blog/design-considerations-for-oracle-chart-of-accounts-accounting-structure/

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