Sectors provide a way to group and analyse transactions and balances across different ledgers. You can think of a sector as a subdivision of a company within Coins ERP+. A sector could be a separate legal entity, or a division or a branch.
Using sectors ensures that every transaction, including cash transactions, is assigned to either a contract or an overhead department. This enforces good data processing discipline and allows you to report separately on transactions and balances that relate to that subdivision; for example, to produce purchase ledger remittances and sales ledger statements by contract.
We recommend you enable sectors unless you have a good reason not to. Even if you do not need more than one sector at present, configuring Coins ERP+ to use sectors will give you the flexibility to introduce other sectors later (for example if your business grows).
Note: While sectors provide some of the features of separate kcos (companies) they are not an alternative. There are various factors that you would need to take into account when considering the use of companies and sectors, including your statutory and management structures, the degree of centralisation, your accountancy requirements and so on.
The configuration of sectors in a manner appropriate to a client organisation is always a key consideration in the early stages of implementation consultancy. These configurations should not be changed by users without Coins ERP+ consultancy.
There are various features of sectors that you might want to consider. Using sectors, you would be able, for example, to generate payments to suppliers according to the division they supply.
Enabling sectors
One element of the General Ledger code represents the sector. For example, if your account code was made up of the elements Division.Department.Account, the first element, Division, might be the sector.
To enable sectors:
Set the parameter SECTOR (in GL Parameters) to Y.
Set the parameter SECTGLEL (in GL Parameters) to the number of the element that represents the sector.
If appropriate, use Sector Details Maintenance to set up records for each sector, and record the address details.
In Bank Accounts, run the Generate Sectors from Bank GL Account option to populate the Sector field on the accounts.
If you are using inter-company postings, set the parameter SECTICO to Y.
This will allow you to select transactions and run reports by sector. However all sectors will be visible to all users; if you want to restrict access to sectors, you can set up Sector Security.