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MX-00020 Set up the chart of accounts for a legal entity in Mexico

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Set up specific parameters in the chart of accounts to generate electronic ledger accounting reports for a Mexican legal entity. This task uses the MXMF demo data company.

Set up parameters for electronic ledger accounting report

  1. Go to General ledger > Chart of accounts > Accounts > Main accounts.
  2. Select New.
  3. In the Main account field, enter a value.
  4. In the Name field, enter a value.
  5. In the DB/CR default field, select an option.
    • Use this field to specify the typical transaction (debit or credit). The XML file uses this field to report the government type of main account in the node <Natur>. If this field is blank, the main account type determines the government type of account.
  6. In the Parent account field, select the dropdown button to open the lookup.
    • Example: 110 Use this value to set up the parent main account of the previous level. Leave this field blank when the main account represents the first level of company in the chart of accounts.
  7. In the list, find and select the desired record.
  8. In the list, select the link in the selected row.
  9. Select Save.

Set up government group mapping

  1. Go to General ledger > Chart of accounts > Accounts > Consolidation account groups.
  2. Select New.
  3. In the Consolidation account group field, enter a value.
  4. In the Name field, enter a value.
  5. Select Save.
  6. Close the page.
  7. Go to General ledger > Chart of accounts > Accounts > Additional consolidation accounts.
  8. Select New.
  9. In the Main account field, select the dropdown button to open the lookup.
  10. In the list, find and select the desired record.
  11. In the list, select the link in the selected row.
  12. In the Consolidation account group field, select the dropdown button to open the lookup.
  13. In the list, find and select the desired record.
  14. In the list, select the link in the selected row.
  15. In the Consolidation account field, enter a value.
    • Enter the SAT account group. The list of government account groups is available on the government website.
  16. In the Consolidation account name field, enter a value.
    • Enter the name of the SAT account group.
  17. In the SAT level field, enter a number.
    • This number represents the level of the SAT account group. You can find this information in the list of SAT account groups.
  18. Select Save.
    • Repeat this action for each main account you create in your company. If you need to create many main accounts, use the Data management tool to import the main accounts from a Microsoft Excel file.
  19. Close the page.
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