Dimensional accounting involves associating every transaction with specific dimensions such as Branch and Business Unit. This approach enables the separate management of each segment, reducing the overall maintenance required for GL accounts and ensuring the integrity of your Chart of Accounts.

In BizCentric, Cost Center and Project are automatically considered dimensions. By configuring a field as an Accounting Dimension, it will be included in transaction reports as appropriate.

BizCentric allows for the creation of customizable accounting dimensions, which can be utilized in both transactions and reports.

To access the Accounting Dimension list, go to:

Home > Accounting > Settings > Accounting Dimensions

1. How to create Accounting Dimension in BizCentric.

1. Go to the Accounting Dimension list and click on “New.”
2. Choose the Reference Document you wish to utilize as a custom dimension. For instance, selecting “Department” as the Reference Document will base the dimension on Departments.
3. Provide a name for the dimension (This name will be displayed in transactions where dimensions are applied).
4. Within the Dimension Defaults table, you can specify company-specific default dimensions, as illustrated in the screenshot below.
5. These dimensions will be automatically populated in transactions for the respective company.
6. Tick the “Mandatory” checkbox if you require the dimension to be mandatory in transactions.

2. Features

Upon creating the dimension, custom fields will be generated through a background job tailored for that particular dimension. These fields will be visible within the Accounting Dimensions section of transactions that affect accounting entries (GL Entry).

2.1 Using dimensions in transactions

To associate a transaction with a dimension, you can choose the relevant dimension within the Accounting Dimensions section.

2.2 Filtering Reports based on dimensions

You can also apply filters to various financial reports, such as the Profit and Loss Statement, Balance Sheet, and General Ledger, using these dimensions.

2.3 Making accounting dimensions mandatory for “Profit and Loss” and “Balance Sheet” Accounts

2.4 Disabling accounting dimensions when no longer required

You can also disable the dimensions if you don’t require them anymore. The old transactions having accounting dimensions will remain intact.

Related Topics

1. Cost Center
2. Budgeting
3. Accounting Reports