By mapping accounts, you let Flowrev know to which accounts to defer sales amounts to, etc.  During revenue recognition schedule generation the mapped accounts may be used to defer revenue to, and for subsequent revenue recognition. Similarly for expense recognition for bill lines. 


Note: The accounts mapped in the "MAP ACCOUNTS" section shown below provide a baseline set of accounts, which various other settings may override as is described in the notes below including by the advanced maps set (read this article for details of advanced maps. The article also provides instructions on how to configure multiple deferral accounts, etc.)  


If you do not have specific accounts to which you can map, create new accounts in the chart of accounts in your accounting system.  Then using the Flowrev "Org|Company > Change/Update" page's "Update Selected" button, pull over/sync those accounts into Flowrev first.


The accounts you map are:

  • A current liability deferral account labeled "Revenue deferral" into which sales amounts are deferred if mapped to a REVENUE account on the invoice
    Note: If multiple deferral accounts are needed, and deferral accounts per REVENUE account are set, then that specific account will be used. See this article.
  • A revenue account labeled "General sales" to which recognition of any invoice line amounts that are pre-mapped to a current liability account will go to as a last resort, when Flowrev does not have any other information that would override recognizing into this account:
    1. If the current liability account used on the invoice line has been set to a revenue account's custom deferral account, the recognition will go to that revenue account with highest precedence.
    2.
    If a custom deferral account is not set for the current liability account used on the invoice line (step 1), and if the invoice line is based upon an item, then the recognition will go to the item's "sales" revenue account in precedence over "General sales".
    3. If the invoice line is mapped to a revenue account, the recognition goes to the line's mapped revenue account.
  • A current asset account labeled "Expense prepayments" into which cost amounts from bill lines are deferred if mapped to a EXPENSE account on the bill
    Note: If deferral accounts per EXPENSE account are set, then that specific account will be used. See this article.
  • A expense account labeled "General expenses" to which recognition of any bill line amounts that are pre-mapped to a current asset account will go to as a last resort, when Flowrev does not have any other information that would override recognizing into this account:
    1. If the current asset account used on the bill line has been set to an expense account's custom deferral account, the recognition will go to that expense account with highest precedence.
    2. If a custom deferral account is not set for the current asset account used on the bill line (step 1), and if the bill line is based upon an item, then the recognition will go to the item's "purchase" expense account in precedence over "General expenses". 
    3.
    If the bill line is mapped to an expense account, the recognition goes to the line's mapped expense account.

  • A current liability account for sales tax - by mapping your sales tax account, you let Flowrev know how to correctly handle your sales tax amounts associated with items if your organisation's sales tax basis is set to RTACCRUALS (ratable accruals - a Flowrev option). No sales tax is defered/recognized for other settings (e.g. sales tax basis of CASH, PAYMENTS, ACCRUAL, ACCRUALS, etc.)
  • A current liability account for rounding discrepancies - since Flowrev executes numerous floating point arithmetic operations and then aggregates amounts across many invoices, small rounding discrepancies can arise (usually a penny)