Overview
The Asset tab displays all GL codes from your connected accounting system identified as asset accounts. These are mapped across the following headers in the Castaway chart of accounts: Bank Accounts, Trade & Other Debtors, Inventory, Accruals & Prepayments, Debtor Elements, Fixed Assets, Investments, and Other Assets/Liabilities.
Bank Accounts Header
An inbuilt main bank account element exists in every Castaway file. Map your primary bank account GL code to this line - no element creation is required.
Additional bank account elements can be created by mapping further bank GL codes to the Bank Accounts header. Each additional bank account created automatically generates corresponding Interest Income and Interest Expense lines under those headers.
| Line | Appears when |
|---|---|
| Main bank account | Always present — inbuilt |
| Additional bank account lines | Each additional bank account GL code mapped to the header |
Trade & Other Debtors Header
An inbuilt Balance Sheet (Trade Debtors) line exists under this header. Map your trade debtors GL code here in most cases.
Partner Elements
Partner lines appear automatically when a Sales element's Debtor Reporting setting is changed from the default. Map the relevant GL codes to these lines once they appear.
| Line | Appears when |
|---|---|
| Balance Sheet (Trade Debtors) | Always present - inbuilt |
| Individual debtor balance lines | A Sales element Debtor Reporting setting changed to Current Debtors or Non-Current Debtors (Income tab) |
| Individual debtor balance lines | A Sales element Debtor Reporting setting changed to Link to Debtor Element (Income tab) |
| Provisions (Doubtful Debts) | A Provision element set to Doubtful Debts provision type (Expense tab) |
Debtor Elements Header
If a Sales element has been configured with Link to Debtor Element as its Debtor Reporting setting, the Debtor element is created here by mapping the relevant GL code to this header. Multiple Sales lines can be connected to a single Debtor element if required.
Inventory Header
Inventory balance lines appear here as partner elements when Inventory elements are created in the Expense tab. Map the relevant GL codes to these lines once they appear.
| Sub-header | Appears when |
|---|---|
| Inventory balance line | An Inventory element is created (Expense tab) |
| Inventory Writedown line | An Inventory element's Writedown Method setting is changed from None |
Accruals & Prepayments Header
Lines appear here automatically when a Sales or Cost element's Invoice Method is changed to a prepaid or accrued option. Castaway creates these to maintain the connection between the P&L account and its corresponding balance sheet position. Map the relevant GL codes to these lines once they appear.
| Sub-header | Appears when |
|---|---|
| Cost Prepayments/(Accruals) | A Cost element Invoice Method set to a prepaid or accrued option |
| Sales Accruals & WIP/Prepayments | A Sales element Invoice Method set to a prepaid or accrued option |
Fixed Assets Header
Each Fixed Asset element created automatically generates the following partner lines. Map the relevant GL codes to these lines once they appear.
| Partner element | Location |
|---|---|
| Accumulated depreciation line | Accumulated Depreciation sub-header (within Fixed Assets) |
| Depreciation expense line | Depreciation header (Expense tab) |
Investments Header
Each Investment element created automatically generates the following partner lines. Map the relevant GL codes to these lines once they appear.
| Partner element | Location |
|---|---|
| Investment Income line | Other Income header (Income tab) |
| Gain on Sale line | Other Income header (Income tab) |
| Revaluation Reserves line | Revaluation Reserves header (Equity tab) |
Other Assets/Liabilities Header
The Other Assets/Liabilities element type is designed for GL codes that cannot be mapped to any other element type in Castaway. Before creating an Other Asset/Liability element, confirm no more specific element type is applicable.
When no other element type is suitable, Other Asset/Liability elements can be created here. They are flexible elements capable of modelling income, expense, payments and receipts.
Key mapping decision — Account Type setting
The Account Type setting controls where the element reports in the balance sheet:
| Account Type | Reports under |
|---|---|
| Other Debtors | Trade & Other Debtors |
| Other Current Asset | Current assets section |
| Other Non-Current Asset | Non-current assets section |
| Other Creditors | Trade Payables |
| Other Current Liability | Current liabilities section |
| Other Non-Current Liability | Non-current liabilities section |
Partner elements
Other Asset/Liability elements automatically generate the following partner lines. Map the relevant GL codes to these lines once they appear.
| Partner element | Location |
|---|---|
| Other Asset/Liability Income | Other Income header (Income tab) |
| Other Asset/Liability Expense | Other Expense header (Expense tab) |
What's next...
Once the Asset tab is complete, proceed to Mapping: Liability