How can accounts be structured in OneStream?

In OneStream, accounts can be structured hierarchically, which facilitates the creation of parent-child relationships between accounts. This hierarchy is essential for organizing financial data in a way that reflects the real-world relationships among different financial elements.

By using a hierarchical structure, users can easily roll up data from child accounts to parent accounts, enabling comprehensive reporting and analysis. For instance, if a company has several departments or cost centers, each could be represented as a child account under a broader parent account. This approach not only enhances data organization but also simplifies the consolidation of financial statements, allowing users to aggregate results efficiently and understand the financial performance across various levels of the organization.

Other structures, such as random, alphabetical, or chronological, do not provide the same level of analytical capability or clarity in representing how accounts relate to one another, which is crucial for effective financial reporting and planning in a platform like OneStream.