GL - What is Set of Books? What are the four conditions when you change your SOBs?

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What is Set of Books? What are the four conditions when you change your SOBs?

Total Answers and Comments: 4

Last Update: October 03, 2007

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Submitted by: Spice

Set of books are created keeping in mind the 'Accounting Structure". This is made up of 3 'Cs' - Chart of Accounts, Currency and Calender

Chart of accounts is made up of segments. Max of 30 Segments are allowed. 2 Segments are mandatory - Balancing and Natural

Calender - This can have a max of 365 periods (daily clendar) and a min of 1 period (Yearly calendar). Periods can be monthly, fortnightly, weekly, daily........

SOB is of 2 types - Primary and Reporting.

Primary SOB - All transactions are with functional Currency
Reporting SOB - All transactions are with foreign Currency

SOB cannot be CHANGED

Above answer was rated as good by the following members:
hajitari

August 10, 2005 07:32:38

Sandipanni Bharadwaj

RE: What is Set of Books? What are the four conditions when you change your SOBs?

Setup book defines the Accounting structure of the company. Set of book consist of three thigns Currency Calendar and Chart of Account.

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November 01, 2005 08:47:19

siva kumari

RE: What is Set of Books? What are the four conditions...

set of book is a combination of currency calendar chart of accounts.

four conditions when u change ur sob is:

1.check ur currency

2.check ur calendar

3.check ur chart of accounts

4.u have to assign ur sob to ur responsibilityh

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July 10, 2007 23:44:41

sumalatha.m12

RE: What is Set of Books? What are the four conditions...

Set of book means linking between the 3cs i.e chart of accounts calendar currency and maintain 5 mandatory accounts

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October 03, 2007 07:23:30

Spice

Member Since: September 2007 Contribution: 6

RE: What is Set of Books? What are the four conditions...

Set of books are created keeping in mind the 'Accounting Structure". This is made up of 3 'Cs' - Chart of Accounts Currency and Calender

Chart of accounts is made up of segments. Max of 30 Segments are allowed. 2 Segments are mandatory - Balancing and Natural

Calender - This can have a max of 365 periods (daily clendar) and a min of 1 period (Yearly calendar). Periods can be monthly fortnightly weekly daily........

SOB is of 2 types - Primary and Reporting.

Primary SOB - All transactions are with functional Currency
Reporting SOB - All transactions are with foreign Currency

SOB cannot be CHANGED

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