Chart of Accounts Setup and Maintenance Workflow

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Fetch all existing account entries from the Chart of Accounts data model to check for duplicates.

Retrieve the parent-child relationship structure from the data model to ensure correct nesting.

Execute a formula to verify that the new account code follows the predefined alphanumeric pattern.

Create a new entry in the Chart of Accounts data model with the specified account details.

Create a task for the Financial Controller to review the newly created account for accuracy.

Update the parent account entry in the data model to include the newly created child account.

Aggregate all entries within the 'Assets' category to ensure the balance sheet structure remains intact.

Create a task for the Internal Auditor to verify the change against the change management policy.

Send an email notification to the accounting department regarding the update to the Chart of Accounts.

Delete or mark as inactive the entry for the redundant account identified during the cleanup process.

Generate a comprehensive report of the updated Chart of Accounts for management review.

Send an SMS alert to the Finance Manager for high-priority changes to sensitive accounts (e.g., Cash or Equity).

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