I have got the following categories for accounting and cash flow purposes:
Equity
Contribution
Distribution
Valuation
Debt
Issuance
Payment
Valuation Allowance
Interest
Accrued
Paid
Valuation Allowance
I have broken them into 3 tables: equity
, debt
, and interest
. Each table has the following columns:
ID
Date
Amount
Type
My question is, within the "type" column, should I be using a number, i.e. 1,2,3, or text to indicate the value?
Best Answer
Speaking from the programming side of the house, I would do a numerical value that is a foreign key to a "type" table. This way if you change the text value, all previous entries automatically update, and adding new types is just a matter of adding them into the table.
This has the added benefit that if you do something like an interface with a dropdown list to select the value, it also automatically updates and there are no coding changes needed to update the list.