🔗 Mapping Bank Accounts to Chart of Accounts

Mapping bank accounts to the chart of accounts is essential for running Audit Sight’s powerful matching algorithm. This process ensures that all debits and credits to cash are accurately vouched and traced against the company’s banking records. Proper mapping guarantees reliable and error-free workpapers and testing.

🔗 How to Map Bank Accounts to Chart of Accounts

1. Navigate to the Bank Account Mapping Page:

   • Go to Clients > Mapping > Bank Accounts > then select the appropriate entity.

2. Select the Appropriate GL Account:

   • From the dropdown, choose the GL account that corresponds to the bank account.
   • 📝 Note: The dropdown only displays accounts marked as “Bank Accounts” in the Chart of Accounts mapping.

3. Tagging New GL Accounts as Bank Accounts:

   • If you don’t see the required GL account:
     • Go to Chart of Accounts Mapping under the client’s profile.
     • Find the account and tag it as a “Bank Account.”
     • Refresh the Bank Account Mapping page, and the newly tagged account will appear in the dropdown.

4. Mapping Rules:

   • A bank account can only belong to one GL account.
   • A GL account can have multiple bank accounts mapped to it.

🚫 How to Ignore a Bank Account

If an erroneous bank statement was uploaded or you need to exclude a bank account:

1. Locate the Bank Account to Toggle Off:

   • On the Bank Account Mapping page, find the erroneous bank account in the list.

2. Toggle the Account Off:

   • This action removes the bank account from the matching algorithm and all workpapers.
   • 📝 Note: Toggling a bank account off does not delete it but ensures it is excluded from all analyses and reports.

❓ FAQs

🤔 Why don’t I see any GL accounts in the dropdown?

• Ensure that at least one GL account is tagged as a “Bank Account” in the Chart of Accounts mapping.
• 📡 Accounting data may not have been synced yet. Verify that your client’s accounting data is connected and synced.

🚫 What happens if I ignore a bank account?

• Ignored accounts are removed from the matching algorithm and excluded from all workpapers and testing but remain in the system for reference.

🔄 Can I un-ignore a bank account?

• Yes, go back to the Bank Account Mapping page, find the toggled-off account, and toggle it back on.

🛠️ What if my client updates the chart of accounts during the year?

• You can download the bank transactions and upload them to the new account. Contact our support team for help with this operation.

For further assistance or questions, contact our support team:
📧 support@auditsight.com