Understanding the Setup to Work with the Chart of Accounts

The Mexican fiscal authorities publish the official chart of accounts that all companies must use when reporting accounting information. This referential chart of accounts assigns a code to each account and its level identifying parent/child relationships for reporting purposes. The format for the code uses numbers and periods.

You must set up the concepts and codes included in the official chart of accounts provided by the government in a user-defined code table. You use this UDC table to load the accounts and codes, and to identify the account nature of each record as A (Credit) or D (Debit).

Determine the best match in the referential grouping accounts for each of your existing general ledger accounts and create associations using the Review and Revise Accounts program (P0901). To create these associations you manually set up the single accounts entering the grouping code into the category code field for the UDC table created.

When you run the Chart of Accounts by Level program (R7009001) to generate the XML file, the system extracts the information from your general ledger records in the Account Master table (F0901), and generates an XML source file. The source file can be transformed to the XML format specifications set by the fiscal authorities. This chart contains the details of each account, the level of the account in the chart, and the related parent account.

The program also generates an output table for the Chart of Accounts by Level (F7009001). This table is required to generate all the electronic accounting XML reports.

See also:

• "Chart of Accounts" in the JD Edwards EnterpriseOne Applications Financial Management Fundamentals Implementation Guide.