Understanding the account structure used in Templates

Applies to

• Product version: Velixo NX, Velixo Classic
• ERP: Acumatica, MYOB Advanced, Cegid XRP Flex, Hotel Investor Apps, Haufe x360

TABLE OF CONTENTS

• Overview
• Velixo's use of Account Classes
• Advantages of Using Acumatica's Account classes

Overview

To make the most of Acumatica's features, Velixo has used Acumatica's account classes to create custom report templates. This lets users easily design and customize reports according to their specific Acumatica setup.

Velixo's use of Account Classes

The reports use account classes in the Acumatica system, which can differ among customers. Velixo designed the templates to be versatile, allowing users to customize them freely based on their needs and preferences.

By matching the account classes with their ERP setup, users can simplify their reporting, presenting information in a clear and easy-to-understand format.

Advantages of Using Acumatica's Account classes

Consistency

• Utilizing the standard account classes ensures consistency in financial reporting across the organization.
• Consistent categorization simplifies data interpretation and promotes a unified understanding of financial performance.

Uniqueness

• An account code can be mapped to an Account class in a one-to-one relationship. With this, users can be sure they won't have a scenario where an account is not included in a range or a total or is double counted across multiple totals.

Efficiency

• The defined account classes eliminate the need for manual categorization, saving valuable time and reducing the likelihood of errors.
• Users can efficiently generate reports with confidence, knowing that the underlying data aligns with established industry standards.