Overview of Mapping Groups
Mapping groups in FloQast Consolidation allow users to organize entities that share the same chart of accounts (CoA) into groups. This simplifies the process of mapping multiple entities to financial statement line items (FSLIs) by allowing you to map groups of entities with shared rules rather than mapping each entity individually. Mapping groups make the consolidation process more efficient and reduce repetitive administrative work.
The purpose of mapping groups is to improve the efficiency of mapping entities within the consolidation process. By grouping entities that use the same chart of accounts, you only need to perform CoA mappings once for each group instead of for each individual entity. This is particularly useful for entities that share the same ERP system or have similar account structures.
Key Features of Mapping Groups
Adding Groups: Users can create mapping groups from the Mapping Groups section within the Settings page. These groups can then be assigned to entities sharing the same chart of accounts.
Naming Groups: Each mapping group must have a unique name, which allows users to easily identify and manage their groups during the mapping process.
Assigning Entities to Groups: Once a group is created, users can assign multiple entities from the unassigned section of the mapping interface to this group. The system allows users to multi-select entities and assign them to a single group.
Entity Unassignment or Movement: Entities can also be unassigned or moved from one group to another using a simple drag-and-drop interface or through the kebab menu (⋮) next to each entity's name.
CoA to FSLI Mapping: Mapping groups allow users to map the chart of accounts (CoA) of multiple entities in the same group to the same financial statement line items (FSLIs). This eliminates the need for individual mapping for each entity, reducing repetitive tasks.
Grouping Based on ERP Systems: If multiple entities within a group share the same ERP system, users can map them collectively. For example, entities that all use NetSuite can be grouped together and mapped at the group level rather than individually.
Unique Mapping for Separate ERPs: Entities using different ERPs, such as QuickBooks Online (QBO) or Xero, may need individual mappings since these systems may not share the same chart of accounts.
Flexible Entity Grouping: Although some entities share the same ERP, they may not use the same CoA. The system allows users to manually group or ungroup entities to reflect their unique CoA structure.
Non-Direct Connect Entities: Entities that do not have a direct ERP connection (e.g., TB Uploads) can still be grouped and mapped manually.
Only users with Admin or Manager roles can create, modify, or delete mapping groups. This restriction ensures that only authorized users can manage the grouping and mapping process.
Entity Assignment Rules:
Entities within the unassigned section can be assigned to a mapping group by selecting them and using the assign button for the desired group. Entities already assigned to a group can be moved or unassigned using the kebab menu (⋮) next to the group name.
Group Renaming:
Users can rename a group at any time using the kebab menu (⋮) next to the group name. Upon renaming, all mappings associated with the group are automatically updated to reflect the new name.
Group Deletion Restrictions:
Mapping groups cannot be deleted if entities are currently assigned to them. Additionally, if a group is associated with any existing CoA to FSLI mappings, users will be warned that deleting the group could result in the loss of mapping data. Users can either reassign entities or remove the mappings before deleting a group.
Creating a Mapping Group: Step-by-Step
Access the Settings: Navigate to the Settings page in the Consolidation module.
Select Mapping Groups: From the left-hand panel, click Mapping Groups.
Create a New Group: Click the green Add Group button. A pop-up will appear where you can name your group. Make sure the name is unique and descriptive for easy identification.
Assign Entities to the Group: In the Unassigned Entities section, check the box next to each entity that should be included in the new group. Then, click the Assign button next to your group’s name.
Map the Group’s CoA to FSLIs: Once your group is set up, navigate to the Chart of Accounts section. From there, map the CoA for the entire group to the appropriate financial statement line items (FSLIs). This will apply the same mapping to all entities in the group.
Additional Information on Mapping Groups
ERP-based Grouping: Entities from the same ERP can be grouped together to allow for collective mapping. For example, multiple entities using NetSuite can be mapped once instead of individually.
Direct Connect vs. TB Upload: Entities connected via Direct Connect (e.g., NetSuite, Intacct) will have their CoA automatically populated, while TB Upload entities will require manual input and mapping.
Unmapped Entities: Any unmapped entities will appear in the Unassigned Entities section of the Mapping Groups page. Users must map these entities before they can be included in the consolidation.
Unassigning and Reassigning Entities: If an entity’s CoA changes or it needs to be regrouped, users can unassign it from its current group and reassign it to another group. This ensures that each entity is always associated with the correct mapping group.