In this chapter we have taken an introductory look at the Analytical Accounting module covering setup and transaction entry. Analytical Accounting is not a stand-alone module, but one which operates by adding additional functionality into other modules. The majority of Analytical Accounting functionality lives within the Financial series, but it adds functionality to modules such as Payables Management, Receivables Management, Inventory Management, and Fixed Assets among others.
The purpose of Analytical Accounting is to allow the recording of analysis information at a level below the General Ledger account. This allows deeper analysis of expenditure, or revenue, without overcomplicating the chart of accounts.
In the next chapter, we'll take a look at how Cash Flow Management can be used to oversee the management of inflows and outflows of cash.