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Branch-segregated Chart of Accounts

Definition​

A Branch-segregated Chart of Accounts is a financial framework where each branch of an organization maintains its own unique chart of accounts. This segregation allows branches to record and manage their financial transactions independently while supporting consolidated financial reporting at the corporate level.

Key Objectives​

  • Provide each branch with a tailored chart of accounts suited to its operations
  • Ensure branch-level financial data segregation and clarity
  • Enable accurate tracking of branch-specific revenues, expenses, assets, and liabilities
  • Support centralized consolidation without compromising branch autonomy
  • Facilitate compliance with regional accounting standards or regulatory requirements

Core Features​

  • Unique Account Codes per Branch: Each branch has its own set of account codes and descriptions.
  • Customizable Account Structures: Flexibility to design branch-specific account hierarchies.
  • Inter-Branch Reconciliation Accounts: Dedicated accounts to manage transactions between branches.
  • Consolidation Mechanism: Aggregate branch accounts into a unified corporate chart for reporting.
  • Access Controls: Restrict account management to branch-specific users.
  • Integration with General Ledger: Seamless posting of branch transactions to corresponding accounts.

Integration with PrismERP Modules​

  • General Ledger: Manages branch-segregated accounts and consolidations
  • Fund Requisition & Transfer: Posts transactions to branch-specific accounts
  • Budget Management: Aligns budgets with branch account structures
  • Reporting & Analytics: Produces branch-level and consolidated financial reports
  • User Management: Controls access based on branch and account assignments

Ideal For​

  • Large enterprises with multiple branches or subsidiaries
  • Organizations operating in different regions with unique accounting requirements
  • Financial institutions requiring strict segregation of branch accounts
  • Companies seeking detailed branch-level financial performance insights

Summary​

A Branch-segregated Chart of Accounts enables organizations to balance branch autonomy with centralized financial control. PrismERP’s solution supports this by providing flexible, secure, and integrated account management tailored to each branch’s needs.