TreezSoft is a cloud accounting, each company using our software has different ways on how to set up their COA. In current post, the situation is using an example of a company having different branches, and the company wish to use different sets of COA for their branches. Our system uses automated processes and integration to help our client in ensuring smooth business operation and minimizing accounting procedures needed. SMEs can use TreezSoft to keep track of their expenses, accounts, daily operation e.g. Point of Sales (namely QPOS) system and etc.
Different set of COA
Each company account in TreezSoft should only have one set of chart of account (COA), even though the company have multiple branches. This is to minimize confusion of accounts in your financial report. Unless those branches have their own business registration number and their account is audited separately, which in this case, they will have their own company profile and account in Treezsoft. Therefore, they can have a seperate set of COA.
Alternatively, to differentiate your company branches with the same COA, you can make use of our "Tag" and "Tag Group" feature, where each branch needs to be linked to a "Tag" and "Tag Group". Then, when issuing invoice, receipt, credit note, etc, make sure to select the branch's repective "Tag".
E.g. If your branch in Subang is issuing an invoice, the "Tag" can be named as "Subang Branch". This invoice can then be parked under Subang Branch by choosing the tag when issuing the invoice. You can also do the same for other sales and purchases record.
You can click here to learn about how to creat tags and tag group in TreezSoft.
Here is the steps to use tags for different branches
For example, if you would like to create an invoice under Subang Branch, navigate through: Customer > Sales Invoices. Click on the “New Sales Invoice” button at the bottom right corner.
Enter the details and select "Subang Branch" in the field of Tags. Click on "Save" to confirm and proceed.
To record your other documents under the tag feature in TreezSoft are similar. You'll just have to choose the respective tag group when entering the records.
At the end of month (or anytime), client able to generate PL report, BS report for each branch, by filter based on "Tag Group". If not filter based on "Tag Group", then the PL and BS report will show whole accounts figure.
To view Profit and Loss report by tag, navigate through: General Ledger > Financial Reports > Profit and Loss Report by Tag.
To view Balance Sheet report by tag, navigate through: General Ledger > Financial Reports > Balance Sheet Report by Tag.
You can visit these links to read more about COA:
You can also visit these links for branches related topics:
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