Accounting plays a crucial role in ensuring financial accuracy and streamlining operations. When performing any transactions on the Rewaa platform with the accounting app enabled, the platform automatically maps these transactions to the most appropriate accounts based on the transaction type and context. This ensures accurate recording of all transactions in specific accounts within the chart of accounts.
The Accounting Transaction Mapping feature is specifically designed for accountants, enabling the redirection of financial transactions to the correct accounts seamlessly. This includes inventory-related operations, such as importing, adding, deleting products, stock count, and stock removal, all of which require precise recording in the general ledger under specific accounts.
Example Use Case
Adding or Removing Products: The product value is reflected in the Issued Capital account.
Stock Count or Stock Removal: The product cost is reflected in the Cost of Goods Sold account.
With this feature, you can assign transactions to the appropriate accounts, ensuring accurate financial reporting.
Steps to Map Accounting Transactions
ℹ️ Before you start, ensure all required accounts are added to the platform. For details on adding accounts, click here.
Access Accounting Mapping:
Go to Settings > Finance > Accounting Transaction Mapping.
View Inventory Transactions:
Default accounts for each inventory operation are displayed.
Reassign Accounts:
Click on the account name linked to the operation.
Select the new account for the transactions.
⚠️ Ensure the new account is of the same type as the previous account.
Example: If changing stock count from Cost of Sales to a new account called Stock Count, the new account must also fall under Expenses.
Select Applicable Transactions:
Upcoming Transactions Only: Changes apply to new transactions moving forward.
Previous and Upcoming Transactions: Specify the date range for past transactions to be moved to the new account.
Repeat for Other Operations:
Apply the above steps for other inventory transactions.
Save Changes:
Review and confirm account assignments, then click Save.
Confirm Changes:
For future transactions, click Confirm.
For past and future transactions, click Confirm to begin transferring past transactions to the new account.
View Mapping Details
To view details of mapping updates (e.g., update date, user who updated the mapping):
Navigate to Settings > Finance > Accounting Transaction Mapping.
Details are displayed below the account name.
FAQs
Can I modify mappings for a closed financial period?
No, you cannot select dates within a closed period. Reopen the period, modify mappings, and close it again.What if I assign transactions to the wrong account?
Follow the steps above to reassign transactions to the correct account.Does mapping stock count or stock removal impact net income on the dashboard?
No, these operations fall under sub-accounts of the main Expenses account and do not affect net income calculations on the dashboard.Can user permissions for this feature be customized?
Yes:Go to Settings > Users > ⚙️> Edit User.
Expand Settings at the bottom.
Enable/Disable permissions for Accounting Transactions Mapping:
Read: Allows viewing accounts only.
Update: Allows viewing and modifying account mappings.
Click Save Custom User. Changes will apply immediately.
5. How do I verify the completion of past transaction updates?
A progress bar at the top of the screen shows the status of the update.
Once completed, the bar turns green, confirming that the mapping is updated successfully.