When Mapping your Chart of Accounts (CoA), there are a number of key decisions to make with regard to your Element Settings to structure your CoA as required. Some parts of your CoA will require other Elements to be created first to create the corresponding Partner Element.
How to Refine your Element Settings
Element Groups are the fastest way to review make bulk changes to your element settings. The quickest way to adjust you CoA-affecting settings whilst you are in the Mapping Process is via the Mapping Screen, accessible through Forecast > External Sources > Map, clicking elements in this view will bring up the Settings Toolbar on the right hand side.
They can also be adjusted via Forecast > Element Settings and going into the full element view.
The following Element Types can impact the structure of your CoA and reporting:
Profit and Loss Elements
- Sales
- Costs
- Wages
- Inventory
- Provision
- Income Tax (Inbuilt)
Balance Sheet Elements
- Bank
- Fixed Asset
- Investment
- Loan Payable
- Other AL (Other Asset / Liability)
- Inventory Finance
- Debtor Finance (Inbuilt)
Elements with No CoA-Affecting Settings
The following elements have no settings that affect COA structure or reporting: BalSheet, Capital, Debtors, Dividends, Driver, Global Settings, Goodwill, GST/VAT.
Profit and Loss Elements
Sales
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Invoice Method | Automatic (default) | None | |
| Any change from 'Automatic' | Adds a line under Sales Accruals & WIP / (Prepayments) | ||
| Accrual / (Prepayment) Reporting | By Sign (default) | None (line is created when Invoice Method is changed) | Prepayment or Accrual depending on balance |
| In Advance (Prepaid) | None (line is created when Invoice Method is changed) | Reports in BS under Prepayments (current liabilities) | |
| In Arrears (Accrued) | None (line is created when Invoice Method is changed) | Reports in BS under Accruals (current assets) | |
| In Arrears (Revenue WIP) | None (line is created when Invoice Method is changed) | Reports in BS under Inventory | |
| Bad Debt Method | None (default) | None | None |
| Any change from 'None' | Adds a Bad Debt Expense line under Other Expense | Reports in PL under Other Expense > Bad Debts | |
| Debtor Reporting | Trade Debtors (default) | Connects to General Trade Debtors (in BalSheet element) | Debtor values included in General Trade Debtors |
| Current Debtor | Adds a separate Debtor line under Trade & Other Debtors | Reports in BS as a separate line under Trade Debtors (Current assets) | |
| Non Current Debtor | Adds a separate Debtor line under Trade & Other Debtors | Reports in BS as a separate line under Trade Debtors (Non Current assets) | |
| Link to Debtors Element | None (requires a Debtors element to be created) | Reports in BS as a separate line under Trade Debtors (Current assets) |
Cost (Expense)
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Invoice Method | Automatic (default) | None | |
| Any change from 'Automatic' | Adds a Prepayment/(Accrual) line | ||
| Prepayment / (Accrual) Reporting | By Sign (default) | Prepayment or Accrual depending on balance | |
| In Advance (Prepaid) | Prepayment always | ||
| In Arrears (Accrued) | Accrual always | ||
| Creditor Reporting | Trade Creditors (default) | Connects to General Trade Creditors (in BalSheet element) | Creditor values included in General Trade Creditors |
| Current Creditor | Adds a separate Creditor line under Trade Payables | Reports in BS as a separate line under Current Liabilities > Trade Payables | |
| Non Current Creditor | Adds a separate Creditor line under Trade Payables | Reports in BS as a separate line under Non Current Liabilities > Trade Payables |
Wages (Expense)
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Wage Invoice Method | Automatic (default) | None | |
| Any change from 'Automatic' | Adds an Accrual / (Prepayment) line under Payroll Liabilities | ||
| Accrual / (Prepayment) Reporting | By Sign (default) | None (line is created when Invoice Method is changed) | Prepayment or Accrual depending on balance |
| In Advance (Prepaid) | None (line is created when Invoice Method is changed) | Reports in BS under Prepayments (current assets) | |
| In Arrears (Accrued) | None (line is created when Invoice Method is changed) | Reports in BS under Accruals (current liabilities) | |
| Tax Withheld Reporting | General Payable (default) | None (connects to Balance Sheet (Tax Withheld)) | Payables included in General PAYG/PAYG under Staff Payables |
| Current Staff Payable | Adds a separate line under Payroll Liabilities | Reports in BS as a separate Staff Payable |
Inventory (Expense)
Adds Partner Element: Inventory asset on the BS
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Creditor Reporting | Trade Creditors (default) | Connects to General Trade Creditors (in BalSheet element) | Creditor values included in General Trade Creditors |
| Current Creditor | Adds a separate Creditor line under Trade Payables | Reports in BS as a separate line under Current Liabilities > Trade Payables | |
| Write-down method | None (default) | None | |
| Any change from 'None' | None (but enables the write-down reporting setting) | Reports in PL under Other Expense > Inventory Write-off | |
| Write-down reporting | Cost of Goods Sold (default) | None | Write-downs are added to COGS |
| Other Expense | Adds an Inventory Write-off line under Other Expenses in the PL | Reports in PL under Other Expenses > Inventory Write-off |
Provision (Expense)
Adds Partner Element: Provision on the BS
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Provision Type | Doubtful Debts (default) | Adds a Provisions line in Trade & Other Debtors | Reports in BS as a deduction from Trade Debtors under Current Assets |
| Inventory Write-down | Adds a Provisions line in Inventory | Reports in BS as a deduction from Inventory under Current Assets | |
| Staff | Adds a Provisions line in Provisions | Reports in BS as a Provisions (either Current or Non Current) | |
| Other | Adds a Provisions line in Provisions | Reports in BS as a Provisions (either Current or Non Current) | |
| Reporting | Current (default) | None | Reports in BS as Current |
| Non Current | None | Reports in BS as Non Current |
Income Tax Element (Inbuilt)
Adds Partner Element: Tax Provision and Tax Payable on the BS
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Balance Sheet Reporting | By Sign | None | Tax Payable or Tax Receivable depending on balance |
| Current Asset | None | Reports in BS as Tax Receivable (asset) | |
| Current Liability (default) | None | Reports in BS as Tax Payable (liability) |
Balance Sheet Elements
Bank
Adds Partner Element: Interest Income and Interest Expenses on the P&L
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Balance Sheet Reporting | By Sign | None | |
| Current Asset | None | Reports in BS under Current Assets > Bank Accounts | |
| Current Liability | None | Reports in BS under Current Liabilities > Bank Accounts | |
| Interest Reporting | Operations | None | Reports Interest Expense in Funds Flow under Cashflow from Operations |
| Investing | None | Reports Interest Expense in Funds Flow under Cashflow from Investing | |
| Finance | None | Reports Interest Expense in Funds Flow under Cashflow from Financing |
Fixed Assets
Adds Partner Element: Accumulated Depreciation, Depreciation Expense, Gain / Loss on Sale, Reval. Reserve
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Asset Type | Tangible Asset (default) | None | Reports in BS as a Tangible Asset |
| Intangible Asset | None | Reports in BS as an Intangible Asset | |
| Creditor Reporting (Additions) | Trade Creditors (default) | Connects to General Trade Creditors (in BalSheet element) | Creditor values included in General Trade Creditors |
| Current Creditor | Adds a separate Creditor line under Trade Payables | Reports in BS as a separate line under Current Liabilities > Trade Payables | |
| Debtor Reporting (Sales) | Trade Debtors (default) | Connects to General Trade Debtors (in BalSheet element) | Debtor values included in General Trade Debtors |
| Current Debtor | Adds a separate Debtor line under Trade & Other Debtors | Reports in BS as a separate line under Current Assets > Trade Debtors | |
| Revaluation Reporting | Revaluation Reserve (BS) (default) | Adds a Revaluation Reserve line under Capital > Revaluation Reserves | Reports in BS under Capital > Revaluation Reserves |
| Gain/(Loss) (PL) | Adds a Revaluation Gain line under Other Income > Revaluation Gain | Reports in PL under Other Income > Revaluation Gain |
Investment
Adds Partner Element: Investment Income and Gain on Sale of Investment on the P&L, Investment Receivables / Payables on the BS
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Asset Reporting | Current Asset | None | Reports in BS under Current Assets > Investments |
| Non Current Asset (default) | None | Reports in BS under Non Current Assets > Investments | |
| Revaluation Reporting | Revaluation Reserve (BS) (default) | Adds a Revaluation Reserve line under Capital > Revaluation Reserves | Reports in BS under Capital > Revaluation Reserves |
| Gain/(Loss) (PL) | Adds a Revaluation Gain line under Other Income > Revaluation Gain | Reports in PL under Other Income > Revaluation Gain |
Loan Payable
Adds Partner Element: Loans Payable (Non Current) in the BS, Interest Expense on the P&L
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Current / Non Current Split | All Current (default) | None | Reports in BS as Current Asset |
| All Non Current | None | Reports in BS as Non Current Asset | |
| Split methods (manual, %, auto) | None | Reports in BS as both Current and Non Current Asset | |
| Funds Flow Reporting | Operations (default) | None | Reports interest and charges in Funds Flow under Cashflow from Operations |
| Finance | None | Reports interest and charges in Funds Flow under Cashflow from Financing |
Other AL
Adds Partner Element: Other Income and Other Expense lines on the P&L
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Account type | Other Debtors (default) | None | Reports under Trade & Other Debtors in the BS |
| Other Creditors | None | Reports under Trade & Other Creditors in the BS | |
| Current Asset | None | Reports under Other Current Assets in the BS | |
| Current Liability | None | Reports under Other Current Liabilities in the BS | |
| Non Current Asset | None | Reports under Other Non Current Assets in the BS | |
| Non Current Liability | None | Reports under Other Non Current Liabilities in the BS |
Inventory Finance
Adds Partner Element: Interest and Charges lines under Working Capital Finance on the P&L
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Cashflow Reporting | Gross Movements | None | Reports drawdowns as Cash Inflow, repayments as Cash Outflow in CF/PB |
| Net Movement (Inflow) (default) | None | Reports net cash movement in CF/PB as Cash Inflow | |
| Net Movement (Outflow) | None | Reports net cash movement in CF/PB as Cash Outflow | |
| Net Movement (By Sign) | None | Reports net cash movement in CF/PB as either Cash Inflow or Cash Outflow | |
| Finance Cost Reporting | Operations (default) | None | Reports interest and charges in Funds Flow under Cashflow from Operations |
| Finance | None | Reports interest and charges in Funds Flow under Cashflow from Financing |
Debtor Finance (Inbuilt)
Adds Partner Element: Interest and Charges lines under Working Capital Finance on the P&L
| Element Setting | Option | CoA / Mapping Impact | Reporting Impact |
| Cashflow Reporting | Net Movement (Inflow) (default) | None | Reports net cash movement in CF/PB as Cash Inflow |
| Net Movement (Outflow) | None | Reports net cash movement in CF/PB as Cash Outflow | |
| Net Movement (By Sign) | None | Reports net cash movement in CF/PB as either Cash Inflow or Cash Outflow | |
| Interest Reporting | Operations (default) | None | Reports interest and charges in Funds Flow under Cashflow from Operations |
| Finance | None | Reports interest and charges in Funds Flow under Cashflow from Financing |
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