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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

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

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 AsCodeCoAType.

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.

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 by default. Also available to the Suspense accounting is Suspense Field Amount. 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 math variable 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.

Suspense Field Amount: Select Suspense Field Amount when the amount value is in a field on the Suspense Screen configuration. Enter the exact name of the field in the Accounting Amount field. Accounting is performed on the value of this field. This is used for general accounting purposes only. There is no sub-account accounting generated on this value.

COA entries that are based on suspense fields, math variables or non-fund specific allocations (general accounting) will use values in the transaction math and these will write with the first successful execution of the activity (when there are no non-overridden business rule errors).

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 or save of the suspense record and the value of Fund Type.

When GenerateAccounting is set to YES, if the accounting entries are based on fund (separate accounting), then they will wait until all AsValuation records for the activity are moved into an active state and there are no non-overridden business rule errors generated from the PostAssignmentValidateExpressions rule. Even though the valuation records may be active before the activity moves into an active state, the accounting will not be written if there are validation errors in the PostAssignmentValidateExpressions. If there are no PostAssignmentValidateExpressions validation errors and all of the valuation records are in an active state, even if the activity is still in an NUV Pending status, the accounting records for each fund can be written. When there are subsequent executions of the activity, the accounting will run again but will check to see if fund accounting records already exist for the activity.

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.

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.
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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.

Only select either Gain/Loss or Flip on Negative. They are mutually exclusive.

Accounting Amount: Only use when the type is either math variable 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 field maps back to the database column AsChartOfAccountsEntry.OriginalDisbursementStatusCode. 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 the 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.

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.

LinkSuspense: Check to link a transaction to a suspense record. Both the transaction (activity in OIPA) and Suspense records will be connected to the AsAccountingDetail record and will be visible in OIPA on the Accounting Detail screen of a Suspense record.