Custom fields for chart of accounts

19

I hope this is still on the radar. It’s absence does really complicate annual tax return creation / auditing.

Basically what I want is a profit & loss report grouped / ordered by the tax office’s classification (which is different to what is required for routine business management).

Custom classification of accounts from the COA would readily achieve over 95% of the requirement (100% if the COA has adequate granularity to cover both requirements).

This could be implemented by any of the following:

  1. An alternate COA structure (same accounts but different groups & sub totals)

  2. An alternate COA account “Group” (i.e. add “Custom” the the current “Profit and Loss Statement”, “Cash Flow Statement”).

  3. Supporting COA account custom fields (in detail Custom fields for chart of accounts - #5 by Patch)

Edit
My personal preference is option 3. because

  • I actually want 2 different custom COA groupings, one to match the tax office’s classification and grouping, but also one to match my accountant pre grouping which that firm uses to later match to the tax office requirements.

  • It is readily adaptable now by users to produce the Tax offices total, and could be extended later by adding a report transformation to more closely produce the tax office report

  • It is a general capability which other users are likely to adapt to other requirements

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