Australian Chart of Accounts

Registered by philu on 2011-04-01

Preparation of an Australian Chart of Accounts, based on the MYOB chart.
There is already one distributed with standard OpenERP; is this suitable?
Should also look at the Uniform System of Accounts.
Should also look at the SBR chart of accounts, as referred to here: http://en.wikipedia.org/wiki/Standard_Business_Reporting

Another reference:
http://openforsmallbusiness.co.nz/2010/07/openerp-planning-the-chart-of-accounts/

You can download Achado's tax setup in csv at:
http://www.achado.com.au/files/coa.csv
http://www.achado.com.au/files/tax.csv
http://www.achado.com.au/files/taxcode.csv
Don't look too closely at the COA, it needs a real accountant to tidy it up
I believe the tax setup is a bit of a fudge, since the tax amount (10% or 1.1) is embedded in the 'Coefficient for parent' for some of the tax codes, whereas I think this number should really only be 1 or -1. I can't remember the logic behind this setup anymore - I just needed to do my BAS!

Blueprint information

Status:
Not started
Approver:
None
Priority:
Medium
Drafter:
None
Direction:
Needs approval
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Definition:
New
Series goal:
None
Implementation:
Unknown
Milestone target:
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Every company will have their own chart, and their accountant will have to determine this
Most businesses will already have a COA that they will simply replicate in OpenERP, so having a standard chart is not, IMO, a big deal. I don't think OpenERP is in the same position MYOB is, since MYOB is used by a lot of startups, whereas OpenERP is something businesses are upgrading to.
MYOB, for instance, has multiple charts to choose from anyway, so are we going to create a bunch of COA for different business types? I think just having the basic structure, and using MYOB's numbering will be sufficient.

(?)

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