...
A chart of Accounts (COA) is a listing of the names of the accounts that a State or ULB’s has identified and made available for recording transactions in its general ledger. COA is a standard data which need to be setup as per the National Municipal Accounting Manual or Respective State wise manual. Click here for NMAM manual.
...
Data Definition
Major Code: The Major Code is the first 3 digits of the GL Code which is as per NMAM specifications, this will help in collating the reports at the Nation level.
Major Head Description: The short name given to the Major code to easily identify the Account Name for individual code.
Minor Code: The Minor Code is the first 5 digits of the GL Code which is as per NMAM specifications, this will help in collating the reports at the State level. Also State has the flexibility to define the minor codes.
Minor Head Description: The short name given to the Minor code to easily identify the Account Name for individual code.
SubMinor Code;:
SubMinor Head Description:
Ledger Code: The Ledger Code is the last 2 digits of the GL Code which is as per NMAM specifications, which will help to identify the detailed head code that is used for posting the transactions.
Detailed Heads (ledger): The short name for the Ledger Code, wherein users use this account head name while posting the transactions into the system.
Ledger Code: A General Ledger Code (GL Code) is a string of 7 to 9 digit numeric characters assigned to each financial entry in an State/ULB ledger. A GL Code can be assigned to different debit or credit entries to make accounting transactions.
Type: The Type indicates the Income, Expenses, Liabilities and Assets which are mapped to each individual GL code. User can easily identify the GL code by this mapping.
Account Detail Type: The account details type is the subsidiary ledger, The Suppliers, Contractors and Employees are standard subsidiary ledger. This will help the user to identify the subsidiary ledger details while processing any bill transaction in the system.
Function Required: A GL Code can be linked for the validation of the Function, user while posting a transaction can select a particular function to which transaction will be linked and this will facilitate easy Function wise reporting.
Budget Required:
Active for Posting:
The Code of an Account head shall be numeric and shall be 7 digits. A 7 digit code is suggested to give flexibility to add new codes and for each State or ULB to define certain of its unique requirements. The code is structured into:
Major Head Code : The first 3 digit of the GL code
Minor Head Code: The first 5 digits of the GL code
Detailed Head Code: The 7 digits of the GL codeA GL Code can be linked for the validation of a Budget. User can have a validation check while posting a transaction into the system, this will facilitate to track the amount usage.
Active for Posting: The Active for posting will allow the user for posting the transaction to the particular GL Code, if the GL Code is Inactive then the transaction cannot be processed.
Steps to fill data
Identify the GL Codes that exists at a ULB level.
Collect the above information and feed it below the “COA” sheet accordingly.
The description should be short and precise for the Name of the GL code.
The format of the GL Code to be 7 digits numeric
The respective mapping with the GL code with the Major code should be as per code structure
The Type should be clearly specified against the individual GL code.
Subledger Type if Control Code should be associated with control code or non control code
if it is Contractor Payable code, mention the value here as "Contractor"Active for Posting: To indicate “Yes” or “No” in the column if the particular GL code is active for posting the transaction.
...