Continue having the same design with five main account “Types”:

• Assets
• Liabilities
• Income
• Expenditure
• Equity

Allow adding new accounts of any one of these types from the UI.

New accounts can be either “header” or “detail” accounts to make things simpler for a user. “Header” accounts would be used purely for grouping together

related accounts etc. An organization would not log journal entries against the same (Journal entry screens would not list “Header” accounts).

Question: Would you be interested in hearing what COA nirantara and GK accountants use (or any other MFI in community)? On document pages 23, 24 is content about the ‘classification of transactions’ through chart of accounts and a sample chart of accounts for MFIs. How does nirantara and gk COA differ and why would be good to know.

2.1        Scope

For simplicity (for the first cut) have COA at organization level and run accounting reports at the branch level

• So system should associate all journal entries to branch which owns the entity that caused the entry (Example: Loan account on which a disbursal occurred)
• All user defined journal entries should also be associated with a branch