![]() ![]() Most organizations prefer a global chart of accounts, and it's the easiest type to implement. For example, governance and control, maintenance, and reporting are easier. There are benefits to creating and using a single chart of accounts. The shared chart of accounts capability allows for the creation of a global chart of accounts. When they design the chart of accounts, many organizations aim for a global chart of accounts. ![]() The chart of accounts that a legal entity uses is defined on the Ledger page. ![]() A shared chart of accounts can be used by more than one legal entity, but only one chart of accounts can be assigned to each legal entity. You can create and share multiple charts of accounts. Both the global chart of accounts and local charts of accounts can be shared. Shared – A chart of accounts that more than one legal entity can use. ![]() Local – A chart of accounts that legal entities in a specific country or region use.In most cases, you will consolidate to this chart of accounts. Global – The chart of accounts that the organization uses globally.This article uses the following terms to describe charts of accounts: This article provides information that will help you plan the chart of accounts when your organization includes legal entities that must meet requirements for specific localities where they do business. ![]()
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