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Base registers

The base registers consist of several tables which are used to ensure that the accounting and the finance module are in accordance with the current rules and regulations.

The base registers must be updated when changes are required by the authorities. The company’s needs for information is of great importance when setting up the base registers in the finance module. Changes in the company’s processes and routines may also require changes in the base registers.

Output from base registers setup

  • Rules and regulations are followed

  • The company’s information needs are covered

  • The finance module works as planned

The base registers, and the setup of the finance module, must be finished before the accounting personnel start using the system. Then it will be possible to filter the finance data for reporting and analytics.

Grouping the accounts and the financial statements simplify the compilation of the budget and the accounts. It is advisable to plan and define what information you need before you set up the base registers. Using dimensions may be helpful.

Tasks involved in this process

  • Chart of Accounts - The Chart of Accounts is central in the finance structure. Every company has their own, unique Chart of Accounts. As companies often follow the same national or international standard, there tends to be similarities between them.

  • Account groups - The account grouping functionality is flexible to meet different needs. Grouping the accounts makes it possible to compile the budget and the accounts. This is a great advantage when it comes to reporting and analytics.

  • Account definitions - A ledger account may have a specific function. Bank, inventory, agio, accounts receivable and accounts payable are examples of accounts that must be set up with certain definitions to interact with the finance module and the rest of the modules in the system.

  • Value added tax (VAT) - The VAT regulations are constantly changing, so the VAT register has to be maintained. Transactions can be posted with or without tax. Based on the finance module setup, the system will provide a posting suggestion. The VAT register forms the basis for tax reporting and settlement. In RamBase it is possible with multinational tax reporting.

  • Dimensions - There may be needs for dimensions that somehow overlap each other. Several departments connected to the same project is an example. Other dimensions can be cost unit, geographic district or personnel. You can connect several dimensions to one ledger account.

  • Department - The dimension Department (DEP) is used for isolating costs for activities connected to a specific department. There are several ways to create a department. Each department must be clearly defined if the book values are going to be used in reports and analytics.

  • Project - A project is usually an activity that extends over a period. It often includes many processes. The dimension Project (PRJ) is used for isolating costs for a specific activity. A project can have a plan and a budget to enable comparison of the budget and the actual costs.If the numbers are going to be reliable, it is very important to clearly define each project before the accounting personnel start using it. The system setup ensures that the project includes all the relevant posts. The dimension Project (PRJ) is solely an accounting dimension.

  • Assets - The dimension Assets (AST) is used for keeping track of revenues and expenses connected to a single asset. The dimension Assets (AST) is solely an accounting dimension. The depreciation plan and history of previous depreciations are held in the Fixed Assets Register (FAR).