Moderated by Prad, Financial Technology Consultant at Hyperbots
Prad: Hey, everyone welcome. I’m Prad from Hyperbots, a financial technology consultant. Welcome, Claudia. Thank you for joining us today to discuss the chart of accounts granularity. So let’s dive right in. Claudia, what practices should a company consider when deciding on the granularity of its chart of accounts?
Claudia Mejia: Hi, Prad, thank you for having me. Happy to be here. Well, let’s talk a little bit about when a company wants to initiate its financial reporting. They need to think very closely about the chart of accounts, right? Some of the factors they need to consider are the size, the complexity, the industry they’re in, and the level of detail they want for reporting and compliance purposes. Large organizations with different business units might want more granular charts, while smaller companies may need simpler COAs.
Prad: That’s a valuable insight. Can you give us some examples of how different levels of granularity might look in practice?
Claudia Mejia: Well, as I mentioned, large organizations may have different levels of detail in their chart of accounts. For example, they might not only want to see revenue and operating expenses by business unit but also have a very granular view. Instead of just marketing expenses, they may want to see specific categories like digital ads, so they can assess the ROI on those investments. In contrast, smaller companies might only need a single line for marketing.
Prad: Those were some great pointers. What are some of the challenges associated with having a very granular chart of accounts?
Claudia Mejia: There has to be a balance. Going too granular can create complexity for the accounting team. It requires more effort to ensure all lines are properly mapped, which increases the risk of data errors and makes financial reporting and compliance more difficult. So, it’s important not to overcomplicate the process.
Prad: On the other hand, what are the downsides of having a COA that isn’t granular enough?
Claudia Mejia: At the end of the day, we want the chart of accounts to provide insights that help us understand the business. If it’s not granular enough, you won’t have a clear picture of the cost drivers or be able to make informed decisions. It’s also important for compliance, especially when auditors review your financials.
Prad: Great point. Are there any industry standards or guidelines companies should follow when structuring their COA?
Claudia Mejia: It depends on the country and the industry. There are frameworks like GAAP, IFRS, and others that companies need to follow based on where they operate. Certain industries, like travel or manufacturing, may have specific standards, but ultimately, itÂ’s essential to understand both operational and compliance needs when structuring the COA.
Prad: Can you shed some light on how AI and automation tools help manage the granularity of charts of accounts?
Claudia Mejia: AI can be incredibly useful in managing a chart of accounts. It can automatically categorize transactions, suggest adjustments, and predict trends. For example, if AI notices certain expenses aren’t being categorized properly, it might recommend adding a new chart of accounts. This reduces the manual effort required by the team and helps ensure accuracy.
Prad: As we near the end of the interview, what advice would you give to companies trying to strike the right balance between too much and too little granularity in their chart of accounts?
Claudia Mejia: I’d advise companies to start by understanding their operations and industry. The chart of accounts shouldn’t be created in isolation by finance alone it needs to be a cross-functional effort. Different departments might interpret categories differently, so everyone must be on the same page about what each category means and why it’s included. Leveraging AI for insights can also be a helpful tool in finding the right balance.
Prad: Finally, how can a well-structured chart of accounts contribute to a company’s overall financial health and strategic goals?
Claudia Mejia: A well-structured chart of accounts enables sound financial reporting and compliance. It helps with budgeting, forecasting, and strategic planning, allowing the company to make informed decisions that drive the business forward. It also ensures smooth audits and contributes to robust financial management, which is crucial for achieving long-term goals.
Prad: Thank you so much, Claudia, for sharing your insights on this critical topic. Finding the right balance in COA granularity can greatly impact an organization’s financial effectiveness and strategic decision-making. Thank you once again.
Claudia Mejia: Thank you, Prad, for having me.
Moderated by Riya, Digital Transformation Consultant at Hyperbots
Riya: Hi, everyone! I am Riya, and I’m very excited to have Mike Vaishnav join us on call today. Mike is a CFO consultant and strategic advisor to many privately held organizations. The topic of discussion for today is flexibility versus financial control and how to achieve the balance in procurement. So let’s get started, Mike, to start off. How do you balance the need for strict control and compliance with the need for flexibility speed and procurement?
Mike Vaishnav: Thank you, Riya, so balancing the speed and flexibility in the procurement process along with strict control, is a very critical function for the procurement, because control and compliance is in every part of the business like control and compliance is a key factor and procurement. When we are acquiring some of the product props. Things are going. Cash flow is going out. We are acquiring certain products. Control and compliance is the key. But at the same time, we need to maintain the flexibility. So I will give you some examples. What are the flexibility along with the control and compliance? The 1st one would be the clear guidelines and the policy. The company should have proper guidelines and procurement policy. What needs to be followed? What are the things? What is the approval level? What kind of procurement do they need to focus on, whether critical or non-critical? That’s one of the key functions. Another thing would be a risk-based approach. So organizations need to focus on what is the risk associated with the different types of procurement like low-risk transactions versus high-risk transactions generally on the lowest transaction. You don’t need to have significant control, because those are more recurring and automated recurring and low-value transactions versus high-risk transactions are some of the critical transactions where you need multiple layer control and at the same time flexibility is also required because the high critical procurement sometimes requires very quick procurement. So, if you have to go through a detailed long process sometimes you will miss the market opportunities. Also, there’s an exception. Approval is another one which we need to focus on. So what is the exceptional approval? So there are quite a few times. The company has a process workflow on a workflow company will go who has the specific approval one by one. So let’s say they had 3 approvals or 4 approvals based on certain criteria or thresholds. But sometimes you need to have a way to gain market access to access the market immediately, or sometimes some of the critical products which you may not get. You need to create some exceptions, and for that, you need to create the exception rule that has the authority to bind the company into the contract and how this authority can work within exception approval. So that’s exceptional approval. Workflow needs to be balanced and needs to be incorporated in the if we are using the technology and how you can override the technology. But that’s only for the very critical purchases, and for the very handful of people who can make that exception in that way. Those people are very responsible authorities in the company, and they can maintain control and compliance the other one, you create some of the automation of some of the tools. You can use it where you can have proper control and compliance, but the tools can expedite the process faster. Training and empowerment of the employees are also critical because, without training, the people won’t know what process they’re following. Then there is always they don’t. Either they do not know what the company’s policy or procedure would be, or what they are going to approve. So that’s also very critical. At the same time, a company needs to continuously focus on what the process should be with the growth, with the changes in the business environment, how that process needs to be flexible, and making changes on those. And then, last, but not least the real-time monitoring. So all those when you, when you’re ordering or procuring any goods or services, and monitoring of those processes feedback. Those are the very critical functions to maintain this control and compliance at the same time to balance the flexibility also.
Riya: Great perspective. So just to make things a little more clear, can you explain any specific instances where a highly flexible procurement approach led to significant benefits or challenges for your organization?
Mike Vaishnav: So that’s like, when you say that the control could not be compromised with the flexibility of any, procure any procurement process. And that’s the reason there are always those that go with the challenges and benefits. Also, Let me give you some examples of the benefits. If the process is flexible, one of the things is like a speed you can. You can order very fast because you have the speed, and you can with the speed. You don’t have to go through those bureaucratic channels on the approval, you can do the quick procurement on that. You can gain the market ex-market, and get market access a lot faster. Because when you say some specific need, you have it. You can control the market faster. You can maintain an adequate supply, or when you have a critical supply, you can order faster. Also the decentralized function, like when you are the most beneficial would be if you decentralize your organization. And if you are global or in a different geography, you can gain access to the local market and local geography with the local expertise and experience versus having a centralized function over here, and then you can manage the supply chain very well. At the same time, you can maintain a good and long-term relationship with the vendor, and then create a like, they get better, pricing, and pricing benefits from the vendor. Also, some of the flexibility has benefits. But at the same time, there are some challenges. Also, the biggest challenge is what I would say. Flexibility sometimes creates an inefficient process because there’s no specific process specific. Channels of the approval, specific ways of how the company has been doing the process, and trying to be more flexible, may create an inefficient process. Another issue would be more on the collaboration side from the employees because all the departments. So when the cross-functional departments are involved, and if we have flexibility and given somebody’s authority, that person will not involve the other department, and there’s a collaboration would be a bigger problem. Sometimes it happens like we are like, some of the vendors may get preferential treatment because of somebody flexible due to flexibility. Somebody can give preferential treatment to the vendor. Also, there’s another issue that would be the biggest thing. People will resist using the technology because flexibility sometimes will not allow a lot more flexibility. So people will say, okay, I do not want to use the technology. And I’m happy with the processes. At the same time, if you have a decentralized procurement function, it has those benefits. What I explained to you, is that it has a disadvantage also because people cannot keep track of who’s ordering what without adequate technology or tools or data, so that creates the challenges also. So this is all pros and cons. So companies decide what type of facts and circumstances are, and based on those facts and circumstances, they need to decide what kind of how they want to implement the procurement process which has the flexibility as well as the adequate control and compliance.
Riya: That’s an interesting case. So how does your organization ensure vendor quality and reliability while maintaining a degree of flexibility in vendor selection?
Mike Vaishnav: So vendor selection is a very key process, because when you create the vendor, you just do not go out and say, I want to do the business with that, so I would give you some of the key vendor selection would be so. One of the things is that you have to have a very intensive or very detailed vendor qualification process. So what does that require? That? How? What’s the vendor’s financial stability? What are the vendors? If you have production, plan how the vendor has access to the market to obtain the raw material or if it’s a service thing, then what’s the qualification of their employees? How qualified they are, what type of service they are going to provide, and how they’re going to help us. The other thing would be a site with it. The company needs to do the site, visit and check their manufacturing plant, and see whether it’s adequate for the company. What we are procuring from them is coming properly, or they have like they can meet our demand, or how long it will take to meet the demand because sometimes some of the critical orders you have to have immediate orders, and if they cannot meet the demand, or if they don’t have good access of the market that can create the operational inefficiencies. Also, the other thing would be strategic versus non-strategic routine, or technical supplies. So if there’s a strategic supply you need to have, like, very go to the detail called critical supplies. You need to go through a very detailed vendor selection process because it requires a lot more dependency on that vendor. So these are some of the things you need to focus on at the same time, you always need to have a backup vendor, because sometimes what happens if something happens, marketing happens, how the vendor is not able to provide the critical products or services, then you need to have some backup in order to not to disrupt the services or sometimes you have a dual vendor. So for the same product, you can divide it into 2, so that way, if the vendor cannot meet one vendor, other vendors as a backup or a dual vendor relationship will help also the other thing we need to focus on the create, the preferred supplier list. So what happens once you prefer supplier listing, you go through the. You have gone through the detailed vetting process, you can order them, and you don’t have to worry about every time you need to keep checking on or vendors, whether vendor relationship issues. The other thing is, that the KPI is very important. So KPI, which includes how the vendor is performing, how they have done the delivery rate, and the defect rate. What’s the timing of the delivery? What’s the way they are pricing everything? And those KPIs you need to review on a regular basis. At the same time, you need to provide the scorecard to the vendor to give them feedback on what kind of Kpi came up, and what the scorecard would be, and where they need to improve it. So these are the stuff you can focus on in the vendor selection process and at the same time you need to have risks. Management is also, whether the vendor is compliant with the all. Those regulatory requirements for the government or local regulation, because you do not want to get into a situation where the vendor has some issues with their not meeting with the local or regulatory requirement, and that will impact your production or your operational efficiency. So these are the few things there are a lot more things I can come up with a lot more laundry list of items, but these are the more critical things we need to focus on when you select the vendor, and how the vendors are critical in the selection process.
Riya: Sure. great. So to get into the details of it. Can you explain how your organization handles risk management in the procurement process, and what strategies are in place to mitigate procurement, and related risks, and for faster, more flexible procurement decisions?
Mike Vaishnav: Sure, so risk management is a critical aspect of the procurement in the organization. When you need to strive for the balance between control with flexibility, and how to respond quickly to changing market conditions. For this, to manage the risk you need to 1st of all, be you to assess the risk and identify the risk. What is the risk involved with that? So there are a few examples of the risk. So 1st of all is a supplier evaluation or a vendor evaluation. So when you select the vendor, you need to see the vendor’s financial stability, reputation, credit, check their past performance, how they can meet the market requirement or not. So those are the 1st things you need to focus on the vendor side. Another risk, I can say, is a contractual risk. So what is identifying the contractual risk? What are the contractual terms, including the payment terms and delivery schedules? And then any liability issue. The liability clause is involved with the contractual term. That’s the second risk you need to identify. 3rd one, I would say, is more on the operational risk.The operational risk is underlying the supply chain. How quickly you can procure the product? What is the demand, what is the market? What is the nature of geopolitical issues that are going to impact your operations? So these are the 3rd things you need to focus on, the other one would be a product and service profiling risk. So there are, like some of the critical worth is recurring. So for the critical procurement or critical supplies. You need to focus on, how they are going to, how you’re going to procure quickly, and how it’s going to impact.If you don’t get it because of any changes in the market or inflation with the pricing, while the lower it requires more, with more scrutiny versus the other low-risk, profile, or recurring purchase, maybe have more flexibility and then another one would be a quantitative and qualitative analysis by using the swot analysis or any risk, matrix or other data analytics, you need to focus what going to happen.And other biggest risk, I would say, is the demand and supply risk in the market and then demand and supply changes because of with the changes in the business environment, inflation, geopolitical issues, market, market condition, etc. So these are the 1st of all you need to identify what the risk would be, and then you need to find out what is the risk mitigation strategy. So whether one of the risk mitigation strategies is the 1st of all. If we look at the supplier, we need to make sure they are financially stable. They need to check your credit check and make sure they are financially stable. So they’re not going to close down their business where we have a key dependency on them. The second thing you need to focus on is their production capacity, or their procurement capacity, where we are relying on them to buy the product, and they are going to deliver in a timely manner to mitigate this risk. You need to have a diversification of the suppliers. We always have, like multiple suppliers backup suppliers, or dual suppliers. So in that way, if one person fails, you can focus on the other side.The second thing you need to have is pretty thorough contract management. So either you can use the contract management tool contract management software or your internal review and make sure you have been analyzing the contract in very detail, so there will not be any contract dispute at the end in terms of the payment or delivery, or any other condition in which you have to focus your resources in getting the like unproductive time with the legal issues and everything. The other thing, I would say. Inventory buffering is like maintaining the safety stock, so you don’t have to rush at the last minute to rely on any vendors. For, say, like, when you have a critical requirement for any inventory you need to have. Another thing is like adjusting time or, what do you call just in case type of inventory inventory system. So just in time is more on the more recurring type of thing where you can order immediately where there’s enough supplies in the market, or enough supplies with the vendor, so you can gain it very fast. But versus just in case is a very critical type of inventory, where sometimes you may not have it gain immediately.So what happened? You need to keep some buffer stock or incremental inventory, or you have to order in advance so that you don’t have to go into the situation where you have you. You are in and you have a problem with your operation. operations.The other thing you focus on is scenario planning. So you plan the scenario based on your own requirement based on the market condition, based on demand, and supply based on the vendor situation. And you, you order, or you procure the inventory based on that or procure the services also based on that if any critical services you need. So in that way, the scenario analysis give you helps you with the what are the things what critical function should be, and how you mitigate that another thing would be a predictive analysis which you can use like AI tool or another tool can do the predictive analysis based on the market forecasting or demand, and based on that, you can determine what’s the procurement plan should be. So these are, all those things you have to focus on. And sometimes you can create the risk with algorithms also. And based on this, of course, with the use of AI or use of any other system where you can predict the market. But there are a lot more other mitigation strategies. But these are the key mitigation strategies. You focus on the risk where, if you mitigate this easily and you do not have any operational issues, you have more operational efficiency, and there won’t be any risk associated with that.
Riya: Excellent details. So in what ways has your organization integrated technology or automation into the procurement process to streamline approvals and ensure compliance?
Mike Vaishnav: So procurement. Are there a lot more technologies that you can use with the streamlined approval? Or I would say, overall the p. 2 B process instead of focusing on the streamlining approvals or compliance. Let’s focus on the bigger picture. The p 2 p process procure to pay process so things can be done to the E-procurement system. So people can implement the e-procurement for the entire procure-to-pay process where you can. You can streamline all this process approval level as well as from procurement to the end of the matching the goods with the ERP systems.
Riya: Excellent details. So in what ways has your organization integrated technology or automation into the procurement process to streamline approvals and ensure compliance?
Mike Vaishnav: So integrating technology in your procurement process to streamline the overall procurement is a key thing. And what people like to focus more and more on technology lately is to rely on the technologies, to make the pro achieve operational efficiency. So I will give you some examples. What are the things companies are doing? One is the E-procurement system. So this is implementing the E-procurement system that will automate the complete procure-to-pay process from the purchase, acquisition, and approval, to all the way to making the payment to the vendors in that way. What happens to this E-procurement system? Either you can have an offline tool, or it can integrate into your ERP that will help you to make the process a lot smoother with total good compliance and control. The other thing people can think of is doing the automated workflow. The companies are creating the automated workflow based on the predefined criteria or predefined threshold or rules, and based on that, they will for the vendor, for the amount, or for the product, and then they can create the automated workflow, and integrate with their system. To make this techno process efficient the other one would be they like more on the contract, manage contract management software like Cms type of thing, where they can implement this contract management software to monitor and manage the contract and make sure that they are in the property and compliance, and all those criteria have been made for the various contracts. The suppliers portal is another one where they integrate the suppliers. What so integrate the vendor vendor system with the through the supplier portal, such as, like the Ocr or Pdf. Thing, or invoice processing via Api, where suppliers can submit their invoices and communicate with the company online but they don’t have to worry about manual intervention, or very, I shouldn’t say manual, less manual intervention. And in that way, this process can be pretty smooth in making the communication with the supplier. The other one is making sure that any system if you are using the offline system for any e-procurement system, is procured to pay. You integrate with your Erp to have better financial control and better visibility, at the same time better closing the finance books, financial books in a timely manner. The other thing would be AI and machine learning, which is a pretty wide field. You can use AI all the way from the communication process, flow, market analytics, and predictive analysis, all those details you can use for the AI and digital signature is another one where you don’t have to shuffle the paper for people’s approval or signature. Digital signature is another one of the technologies. You can use it and also the audit trail and report some of the audit trail. You need to give it through data analytics. People have a different tool for data analytics, where they can get the dashboard or data from the various procurements, whether the purchase order or a procurement, or by type, or by vendor. In that way, they can do the spending analysis and make sure there is no unusual or unusual trend in spending. And that way technology helps in all different aspects.
Riya: It’s fascinating to know how technology plays a role. So would you like to highlight what potential role you see for AI in your procurement processes?
Mike Vaishnav: So AI lately has been becoming very popular, and it has been enhancing the process in procurement by allowing flexibility as well as control. So, AI, if you use it at a very high level, you can use it from complete, from procure to pay process, from approval. To what do you call opening up to pr purchase or purchase acquisition, routing through the purchase acquisition to the various approval levels, converting into the PO sending it to the vendor and getting back, and then come all the and then also integrating with your Erp. So AI has an endless potential for this. Procure to pay process. Also, AI will help us very fast in accrual analysis. When at the month end you can focus on how the outstanding accrual process makes AI make the accrual process very faster. Another thing also, AI helps, is making the communication internal and external communication a lot faster and you don’t have to wear that, because that quite a few times with the AI Chatbot you can have a communication done Lot, efficiently and faster without human intervention based on the predefined algorithms. In that way anybody wants 24 by 7, with a different time zone, different geography, or in the same geographic area people are not around. AI can support in providing all information regarding, and if any questions have been asked, it has been answered instantly. Also, with the help of AI solutions. You can get a specific dashboard. I’m not saying that ERP will not do that, but ERP always has some limitations whereas AI can be more flexible. So these are some of the, I would say, technical parts of the AI, where you can focus on the procurement process. But there are some of the more strategic parts of AI also. So AI can help you with the inventory management solution. It can predict the inventory. It can predict your production cycle. And of course, Erp can tell, some of the models can do that. But this is a more user-friendly way of predicting some of the inventory and demand management. It will also provide predictive analysis which gives what the market condition would be, what the market demand and supply that information AI can collect, and based on that, people can make the decision a lot faster. Also, some of the AI-driven processes, like some of the forecasting processes or the demand generation processes, or not even manage the demand and supply as well as the production cycle. AI made that process a lot more efficient and a lot faster. And then, last, but not least, it is also for control and compliance. So AI will help us, manage the control and compliances, and make sure that this company is following all those regulatory requirements or legal requirements, and if any has been not followed, then AI can flag those issues and people can focus on it, correcting that plot faster. So shortly AI has a very high potential in the procure. Of course, there are all those finance processes. I strongly believe that AI has a very high potential, but the procure-to-pay process AI is very efficient by technical way of complete procure-to-pay process solution as well as some of the strategic items also, and also at the same time, AI can easily integrate with any ERP system, so that will help to complete, get the data in and out of the Erp system. Also, if the company and the production cycle are connected with the Erp system. It’s easy to interface or interchange the data with the Erp system, and AI.
Riya: That is an exciting area. So it’s been a pleasure discussing the balance between flexibility and financial control in procurement with you, Mike. Thank you so much for taking the time to share your valuable input.
Mike Vaishnav: Thank you.
Riya: Thank you. Have a great day.
Moderated by Jane, a financial technology consultant at Hyperbots
Jane: Hello, everyone! This is Jane, a financial technology consultant here at Hyperbots, and today we are joined by Dave Sackett, who is the VP of Persimmon Technologies. Welcome, Dave. Thank you for joining in.
Dave Sackett: Yeah, thanks, Jane.
Jane: Let’s dive straight into it. The topic we’ll be discussing today is revenue heads in the chart of accounts. This topic is critical for effective financial management and strategic decision-making in any organization. To start, can you please tell us why structuring revenue heads properly in the chart of accounts is so important for organizations, especially across different industries?
Dave Sackett: Yeah. So what you have are compliance issues, and different stakeholders need to know revenue accounts to manage the business properly. Depending on the industry you’re in, it can vary significantly. If you’re a SaaS company, you’re looking at usage, internet clicks, etc. If you’re a manufacturing company, you have product revenue. In a service company, the revenue structure differs again. So, regardless of the industry, you may have vastly different ways to look at revenue.
Jane: Understood. What are some common mistakes or errors accountants make when creating revenue heads in the chart of accounts?
Dave Sackett: People who like data often want everything at their fingertips. They might create a revenue structure with very tight granularity, capturing every detail. But in reality, it works better to have a simplified chart of accounts and use other reports for additional details. This helps focus the audience on the right revenue and keeps everyone on target. When you have new business lines or revenue streams, that’s the right time to expand how you look at revenue.
Jane: Got it. Can you share some best practices for structuring revenue heads to avoid these common mistakes?
Dave Sackett: Yep. You want to meet with your stakeholders and figure out what your end product and reports will look like, and who needs the data. It may be for regulatory compliance or reporting to a parent company that consolidates results. Revenue tracking can be critical, especially for accounting eliminations. It’s important that everyone is on the same page when it comes to revenue, and you want to avoid overcomplicating it.
Jane: Understood. How can AI help improve the management and structuring of revenue heads in the chart of accounts?
Dave Sackett: Luckily, we’re in the age of AI, where advancements are happening quickly. AI can support you not only in creating revenue accounts but also in analyzing revenue changes, performing flux analysis, and digging into variances. So, AI has become almost a partner in accounting and finance. Focus on the problem first, then see how AI can support it. As technology progresses, AI’s ability to help will only increase.
Jane: Understood. Can you provide an example of how a specific industry, such as retail or manufacturing, benefits from an AI-validated chart of account structure for revenue heads?
Dave Sackett: Yes. I work in a manufacturing company where we make robots. AI helps us by analyzing variances and providing guidance on whether transactions are going to the correct accounts, or if revenue should be structured differently. AI can alert you if you have transactions that look incorrect based on descriptions, helping guide you in setting up revenue accounts and suggesting whether to add or consolidate accounts. It’s like having another set of eyes to assist in your accounting work.
Jane: Got it. How often should organizations review and update their revenue heads in the chart of accounts, and what factors should trigger these reviews?
Dave Sackett: Right now, I’m transitioning to a new ERP system, which is a great time to revisit revenue categorization. My goal is to keep things simple and basic, and as the business grows and new revenue streams come in, we’ll add accounts but starting with a strong foundation and adding as necessary is key. I wouldn’t recommend changing revenue categorizations frequently, but major milestones like a new compliance report or a new product or service might trigger a review. If no major events occur, an annual review, perhaps during budget planning, is a good rule of thumb.
Jane: Understood. Finally, what advice would you give to CFOs or financial managers looking to optimize their revenue structures in the chart of accounts?
Dave Sackett: Look to the future. Consider tools available today that weren’t available two or five years ago and see how they can help you. AI is very powerful now, especially with advancements in large language models. These AI systems can now really understand your business, and you can train them to support your efforts in tracking revenue.
Jane: Understood. That’s it. Thank you, Dave, for sharing your valuable insights on managing revenue heads in the chart of accounts. Your guidance will surely help many organizations optimize their financial structures and enhance their decision-making processes.
Dave Sackett: Great, thanks, Jane.
Jane: Thank you.