I implement ERPNext for clients and the most painful part of the process is correcting the chart of accounts for:
a) IFRS compliance
b) sensible grouping of SCOTs/accounts
c) accurate naming and spelling
d) order of liquidity
I’m pushing an additional chart of accounts template to the ERPNext code:
https://github.com/frappe/erpnext/pull/8383
At the moment, this is how the proposed chart of account will appear:
It’s been ages since I practised accounting. A bit rusty on accounting standards. Would love to hear feedback from other users who have implemented IFRS-compliant accounting to update the template.