Map numbers are similar to a standard chart of accounts with all the applicable properties (e.g. leadsheet grouping, tax linkage) pre-assigned to the accounts. By matching an account number from a client's specific chart of accounts to a corresponding map number, all the properties of that map number are automatically completed for the specific account. In addition to being significantly faster than applying properties to each of the client accounts, this method ensures consistency and accuracy over all files (e.g. cash will be leadsheet A in all files).
You can create templates so that every component is completely independent of the client's account structure. All templates can then be used without modification for any clients using the default map numbers. Although optional, its correct usage as a standard within an organization can greatly increase productivity and integrity in the performance of bookkeeping, compilation, review and audit engagements.
Default mapping database
Although many organizations may design their own mapping database(s), Working Papers includes a default mapping database with our sample file (Samp01, included with installation). The purpose of the default database is to provide a starting point for those designing their own mapping database and for some of CaseWare's templates.
In designing this default mapping database, we considered the following factors:
- The lowest level of mapping detail is sufficient to prepare financial statements, including any detail required in the notes.
- The system can be easily used for different sizes and types of engagements.
- The methodology can allow for new classifications without redoing the entire database, eliminating any unproductive client setup time.
- The methodology allows users to add their own mapping component while still keeping in sync with the default mapping database.
However, one mapping database may not be sufficient for all these factors. You may require more than one default mapping database, especially for different types of industries. Users should treat this default mapping database as a draft that may be changed in the future. For those users that add new map numbers, the Copy Components feature can help to convert an old mapping database to a new mapping database.
Default map number structure
The map number in the default database is an 8-digit number divided into three components: XXX.XXX.XX. When assigning map numbers, these components are used to better organize the mappings in a hierarchical manner.
- Component 1 (XXX.xxx.xx): The first component represents the main grouping of a Working Papers file's chart of accounts. In many cases, this level may be sufficient to meet GAAP requirements for most engagements.
- Component 2 (xxx.XXX.xx): The second component represents sub-categories of the main component and should hopefully provide sufficient reporting detail for large engagements.
- Component 3 (xxx.xxx.XX): The third component was added to provide further granularity that could be used specific to an industry or to the client file.
Continuity of map numbers
We've attempted to maintain the integrity of a standard chart of accounts for the default map numbers at each of the component levels. However, there are some discrepancies due to the format of the map numbers. For example, the accumulated depreciation account usually follows the related cost account in the numbering of accounts. In the mapping database, cost of buildings is mapped to 155 and accumulated depreciation - buildings is mapped to 156 at the component 1 level. However, if you require greater detail you might use 155.100 Buildings and 155.200 Manufacturing and processing plant with the corresponding accumulated depreciation accounts mapped to 156.100 and 156.200 respectively.
Mapping the Statement of Cash Flow
There are certain numbers in the Statement of Cash Flow that do not come from your client's general ledger. Additions to fixed assets and proceeds on disposition are included in the fixed asset cost and gain/loss on disposition accounts, but are not specifically set out in their own accounts. Included in the default mapping database are mappings specifically for the Statement of Cash Flow. These map numbers have the letter S as the first digit in component 1. For example, S71 is additions to fixed assets and S72 is proceeds on disposition.