... | ... | @@ -50,4 +50,4 @@ VF-based systems will records raw Economic Events, just as they happened, and re |
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ERP systems and other business software that does accounting usually require you to design a Chart of Accounts. VF doesn't. It can generate a standard Chart of Accounts automatically.
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This feature has pluses and minuses. You don't need to know accounting or to design a Chart of Accounts. On the other hand, if you **want** to design your own Chart of Accounts, you would need to add it to a VF-based system and attach account IDs to various VF objects like Resource Classifications. That is, in fact, how many ERP systems do it. Nobody in the ERP system created journal entries by hand; they are automatically generated by the ERP software. |
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This feature has pluses and minuses. You don't need to know accounting or to design a Chart of Accounts. On the other hand, if you **want** to design your own Chart of Accounts, you would need to add it to a VF-based system and attach account IDs to various VF objects like Resource Classifications. That is, in fact, how many ERP systems do it. Nobody in ERP systems create journal entries by hand; they are automatically generated by the ERP software. |
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