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Code of Account & Control Account

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srilalitha
Posts: 5
Joined: Wed Jul 23, 2014 8:36 am

Code of Account & Control Account

Tue Dec 23, 2014 10:40 am

Hi,
Need help in differentiating between Code of Account and Control Account in WBS. If this can be shown on a WBS structure, that will of great help.
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saket
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Joined: Sat Dec 07, 2013 10:37 pm

Re: Code of Account & Control Account

Wed Dec 24, 2014 6:37 am

Control accounts are code of account only, just simply take it that many of the expenses done or budget made for WBS has to be posted in accounting system of company and company accounting system may want to group them in different category like travel , asset purchase etc. and for that we put the account relation in WBS, it not necessary that account will be coming as hierarchy level in WBS
sachinsinha
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Re: Code of Account & Control Account

Wed Dec 24, 2014 1:43 pm

Here is the code of account, this might help you in visualizing the work package
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code of account.png
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ryanpbrockman
Posts: 1
Joined: Fri Dec 18, 2015 6:20 am

Re: Code of Account & Control Account

Sun Dec 20, 2015 5:38 pm

Hello all,

Let me try to explain you the difference. A code of account applies a unique identifier (number) to the WBS packages so they can easily be tracked. It can link them to the organizational accounting systems/financials etc.

A control account, on the other hand, is a level above planning package (work package)..to be used for three purposes:

1. To aggregate the cost estimates of work packages for easeness of total aggregation effort;

2. To manage the overall project work efficiently with full control (Thats why these are also known as Management Control Points);

3. When work cannot be fully scoped out..serves as a placeholder (think: rolling wave planning).

Thanks :)
ujjal_show
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Joined: Thu Sep 17, 2015 12:59 pm

Re: Code of Account & Control Account

Mon Dec 21, 2015 9:17 pm

A code of account applies a unique identifier (number) to the WBS packages so they can easily be tracked
a small correction, code of account can also identify each component of the WBS not only work packages

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