Global Chart of Account

Legacy Contributor

Hi all,
I would like to get your opinions and experiences within your areas.

We have rolled out M3 in one country/division, and are about to roll out in 2 additional countries/divisions.

Here pops up the question about:
* a consolidation of the Chart of Accounts within a Group Reporting.
* if each division uses it's own chart of Account, all Accounting Rules needs to be re-adjusted accordingly, and maintenance and overview gets more challenging.
* The Dimensions are quite occupied and being used.

What is the practice and usage to handle various Chart of Accounts and consolidate them within a Group Accounting?

Did you create a Global Chart of Account? Did you run into local restrictions?

Legacy Contributor

Mayo Clinic is on S3, but when we were in the design phase of implementing Lawson, we looked to standardize our chart. We looked at what our industry (healthcare) used to benchmark across institutions and found the HFMA standard chart. All of our different companies/sites that are on Lawson, have to use the same chart. The companies/sites that are not currently on Lawson, have to map their non-Lawson chart to similar accounts in our consolidation software system. If all of your companies/divisions are using Lawson, you can easily use account attributes to group like expenses across different charts. At least we could do that in S3 financials.