Can Accounting Unit have a different Chart of Accounts?

unknown

Hi I'm in IT and not a strong Finance background.
We have had some turnover in our Finance dept and also new leadership.
I'm being asked to how to set up a new Accounting Unit under our 'main' Accounting Entity but it needs to have it's own/new Chart of Accounts....ie, different than all of the other accounting units under that entity.
Is that possible?
I'm just starting to dive in on what all needs done since this has never been an IT responsibility.

Any insight would be appreciated.

unknown

Hey Annette hope you are doing well.  So you can absolutely set up an alternate chart but if the accounting unit is in the same entity as your enterprise chart it would have two charts and those alternate accounts would need to be added in both charts.  Everything has to exist in the master/enterprise structure.  You can certainly write structure relation rules to restrict those new accounts to only the new accounting unit.  Generally something that has an alternate calendar or chart I would recommend setting up in a separate entity.  Keep in mind you can always consolidate it for reporting purposes. 

Hope this helps.  As always don't hesitate to reach out.