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Chart of Accounts

Overview

Zuora's chart of accounts contains the accounting codes used to categorize your Zuora transactions for accounting purposes. In accounting terms, these codes identify the account affected by a transaction, such as Accounts Receivable or Cash. Many of our customers simply use their GL account names for Zuora accounting codes.

Zuora as a Revenue Sub-ledger

You can use Zuora as a simple revenue sub-ledger, or Z-Finance as a more full-featured revenue sub-ledger.  Either way, every financial transaction in Zuora must be associated with an accounting code that maps to the GL account affected by the transaction. The transactions which require an accounting code are:

  • invoices
  • invoice adjustments: Note that the invoice adjustment transaction is deprecated on Production. Zuora recommends that you use the Invoice Item Adjustment transaction instead.
  • invoice item adjustments
  • credit balance adjustments
  • payments (and credit balance payments)
  • refunds (and credit balance refunds)

Credit balance payments and credit balance refunds can use their own separate codes or use the same codes as payments and refunds.

Using Accounting Codes in Zuora

Zuora's chart of accounts contains the accounting codes used to categorize your Zuora transactions for accounting purposes. In accounting terms, these codes identify the account affected by a transaction, such as Accounts Receivable or Cash. In fact, many of our customers simply use their GL account names for Zuora accounting codes.

Using accounting codes to group transactions within reports makes it easy to generate reports on the various categories of financial activity. One typical purpose of such reports is to produce totals to use for summary journal entries in an accounting system.

Not everyone uses accounting codes in exactly the same way. For instance, some use the same accounting code for payments and refunds, so that when you aggregate both, you get a single net payment amount. Others prefer to use separate accounting codes so that they can keep separate totals for payments and refunds.

Once the accounting codes are in use, there are strict limitations on the changes you can make. We strongly recommend that the company CFO or Controller participate in the planning of your Z-Finance configuration.

 

 

Last modified
17:47, 5 May 2016

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