Once the Trial Balance has been imported you are able to map the accounts using an Industry Template or a Custom Template.
An Industry Accounting Structure Template is an Accounting Structure provided by MyWorkpapers with mappings for common software.
A Custom Template is an Accounting Structure that you have created unique to your clients. See here for instruction on applying an Accounting Structures - Custom Template.
Using an Industry Template will populate the lead schedules, standardised accounting structures and the relevant working papers for your file.
Some of our Industry Templates are generated from the chart of accounts recommended by the national and international accounting standards. There are also other Industry Templates generated by the standard chart of accounts from widely used accounts production providers. If these chart of accounts have been used for a Trial Balance import then the lead schedules and accounting structures will generate automatically once you select the relevant industry template. If alternative chart of accounts have been used the Industry Templates can still be applied however this will involve selecting the lead schedule for each account.
In order to map to an Industry Template you must be within a client file with a Trial Balance already imported. See here for information on importing a Trial Balance.
To create a Accounting Structure please refer to Editing an Accounting Structure.
Map an Industry Template Accounting Structure
- Once the Trial Balance has been imported select the Tools button;
2. Hover on Map Accounting Structure (Industry Templates) which will return a list of general and accounts production providers there are Industry Templates for. This list is a further dropdown menu as hovering over the options allows you to specify the file template;
3. This may take a short while to generate, remain on the page for the Industry Template to update;
4. Once the accounts have been prepared the lead schedules will be populated;
5. Select the Trial Balance dropdown for both the Profit & Loss and Balance Sheet and you will see they have been generated according to the relevant industry template.
To re-apply another Accounting Structure select the Clear mapping (reset accounting structure) from the Tools dropdown and then re-select another template.