When uploading a new client into ProfitSee, one of the first steps is making sure the Chart of Accounts is mapped correctly. This article serves as an in-depth guide on how account types in Twinfield are mapped into ProfitSee.
1. Account Type Mapping
After sync has finished, ProfitSee detects the accounts that are not mapped so it will automatically open a popup with all unmapped accounts prompting the user to map.
Here’s what makes it special: In Twinfield a company file can have many, many Report Layouts. The types are labeled in a very loose way, which means it’s just words and no fixed types. We’re syncing the full account tree (report layout) in a way of groups.
Account "Other sales" is inside a group of accounts which is called "Other Income". That means Other Income is not the type for account "Other sales", it is just a group called "Other Income".
In the following popup, the user can walk through every single Report Layout (dropdown select top left on popup, "ProfitSee" layout selected in the screenshots) that has been created on Twinfield App in order to map each account to a proper type in ProfitSee. To make it a bit easier for our clients, they can just select the type of a group and all accounts within will automatically change to that type.
Heads-up: There can be accounts in one Report Layout but not in any other. To map all accounts the user has to walk through all Report Layouts in order to properly set up every single account. There are even accounts that are not related to any Report Layout, so we’ve added a layout called "Orphan Accounts" to make those also mappable in the same wizard.
Also important to note is that we already know from Twinfield during sync whether it is a P&L or BS type. So the selection of types respects that and only shows P&L or BS types.
Pro tip: There’s a toggle button ( ) to hide accounts and groups that are already mapped to make it even easier to stay focused.Unmapped accounts counter is showing "0". The mapping updates can be saved.
2. Chart of Accounts
The Chart of Account is showing all accounts that have been mapped to ProfitSee account types.
Any account in that list can be reassigned to another account type within the according group of P&L or BS accounts.
As long as there are still unmapped accounts, it also possible to open the Account Type Map Wizard again to make use of existing Twinfield Report Layouts. All accounts are still presented, but colored in green to indicate that the account is already mapped and also showing the selected type.
3. Manage (Adjust) accounts for P&L and Cashflow Statement
During initial mapping accounts are already assigned to the fields that are used for Profit&Loss and Cashflow Report but additionally the user can assign the correct accounts to proper account types.
Profit&Loss fields are Revenue, Cost of Goods Sold, Operating Expense and Other Income and Expense.
Cashflow fields are Income Movements, Operating Movements, Non-Operating Movements, Equity Movements, Sales Tax, Foreign Currency Gains.
Thanks for reading! If you have any questions please contact your dedicated account manager, or reach out to us at firstname.lastname@example.org.