What is Chart of Account?

COA is a list of account numbers defined by the company to list out all of its expenses, revenue, assets , and liability for your organization operations, it is a reference numbers for all included elements in your trial balance and financial statements.

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What is the meaning of ERP system? Why it is important for organizations?

ERP referees to Enterprise resource planning, it is a software which companies and organization manage their resources and daily operations.

This may includes group of integrated applications like general ledger, Accounts payable, Accounts receivables, Cash management, Fixed assets, Purchasing, Payroll….etc.

The following is examples for ERP systems.

Oracle e business suite.

Oracle Fusion Cloud.

Microsoft Dynamics.

Odoo ERP system

SAP S/4HANA Cloud.

Oracle NetSuite.

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