What is the role of Hierarchies in OneStream's COA?

The role of hierarchies in OneStream's Chart of Accounts (COA) is fundamentally about providing a structured organization for accounts, which facilitates reporting. Hierarchies allow users to group similar accounts into categories, making it easier to analyze financial data and report on it in an aggregated or detailed manner as needed. This structured approach ensures that data can be efficiently processed, and insights can be drawn from the information in a logical way, supporting decision-making and compliance with reporting standards.

Organizing accounts within a hierarchy not only enhances clarity but also aligns with the financial reporting requirements of various stakeholders. This structured manner of organizing accounts ensures that users can easily navigate through the COA and understand the relationships between different accounts, ultimately improving the robustness of financial analysis.