Different BS and P&L reclassification

Due to the fact that my proposal to have an extra field in the chart of account (in order to have a personal riclassification of the BS and the P&L) was rejected, I’m wondering if it would be possible to implement a module of reclassification the BS and of the P&L?

This was your first suggestion in this post: IDEAS - Chart of account suggestions. But you never explained what you were trying to accomplish. The rest of that thread discussed a different suggestion.

What is the use case, and exactly what do you mean by reclassification of the BS or P&L?

We are a fund management company. Since the approval of the AIFMD, a paneuropean law, we can manage fund of the whole EU. Each state as a different P&L and BS reports for the Unitholders which are very synthetic. Our company has a very detailed chart of account that is used for all the funds around Europe in order to keep track of everything in detail and to have a standardized accounting. Every semester we close the P&L and the BS and then we do the aggregation / reclassification for each fund in order to get those standard report. Having the possibility to automatically do this would be great.

The easiest way that came to my mind was the possibility to add custom fields to the chart of account. The second one was to have a specific field. Both of them where rejected. The third was, like is done in Microsoft Navision, to have a module to do those reclassifications.

For the first two most of the work would be done in excel with sumif or pivot table. The third one would come out directly with the final report.

Nothing was rejected. I think your ideas are just not clear, and they still are not.

The first question is what you mean by reclassification? Do you mean reposting transactions to different accounts?

The second question is why you don’t keep your records according to your needs from the beginning? You have not explained why you must reclassify after the fact. Are you doing different reclassifications of all your transactions for each country where there is a fund you manage?

The third question is whether you have explored using the Find & recode feature? Does this capability help you at all? See this Guide: https://www.manager.io/guides/how-to/find-recode-transactions.

For reclassification I mean to aggregate the accounts in a different way (different groups) than the original chart of accounts. For example Bank of Italy for Unitholders Reports wants the debits for unpaid interests under 'other debits" under “unpaid financial charges” but in the BS the Depositary Bank wants them to be under “financial charges”/“interest”. Than CONSOB, a vigilance entity, wants a report with a different chart of accounts: in the BS we have a value that is first summed and in the last line subtracted!

And then in Luxembourg we have a different chart of accounts and so on…

All that said, we decided to have the most detailed chart of account (standardized for all the funds and all the nations) and than create those reports aggregating the detailed chart of account. The aggregation is made with sumif under excel. But we have to set the code each time. So I proposed to have the custom fields in Manager’s chart of account.

BTW the “Find and recode” is not a useful solution.

Thanks a lot for the help

Now I understand. Thanks.

I think your request is so specialized it will not receive much support. There are always going to additional administrative tasks not covered by any given accounting package. Your business seems fairly specialized, so I’m not surprised every little thing isn’t provided by Manager.