Scope
What is Journal Account Mapping in RevRec?
Can we have a categorization of Deferred Revenue, Revenue, Product Type, and Product Family?
Difference between Verified vs Unverified Journal Mapping in RevRec?
Summary
Journal Account Mapping allows you to map the internal accounts used by RevRec to the actual account numbers you are using in your ledger package/accounting system. Navigate from Accounting > Journal Account Mapping.
To understand how entries are created read about our journal posting process.
Solution
Mapping Accounts
Once you have connected your accounting system you can use the account mapping feature to select the account you want to use from the list pulled from your accounting system.
You can change your account mapping by;
Downloading your current mapping as an Excel file, change and Uploading your new mapping in bulk
Change an individual mapping on the UI.
Journal Mapping Fields
This feature is not supported for account of type Deferred Revenue and Contra Revenue. You should not override Deferred Revenue account or Contra Revenue accounts from what's is set as default at the environment level.
For a simple ledger configuration, you can use the default setup with a single account for each account type, for example, a single deferred revenue and revenue account for the company. For more complex setups you can use other fields such as Product Family or Product Type to map entries to specific accounts.
To configure your mapping fields, go to the settings section for your environment and edit your mapping fields. Note that the journal account type is always included in the mapping
Once a field is added it will show up as a field in the journal account mapping fields table.
Account Mappings with additional fields should only be used with Revenue account type.It is required to configure Journal Account Mapping Fields up front, before any data is loaded into RevRec.Verified vs Unverified Mapping
If you book by a granular field such as product type you can set up your mapping with a default mapping. This allows RevRec to book a default account if a new product type is introduced and a specific account mapping has not been supplied. Such mappings are considered unverified.
You can go to the mapping screen and find any default unverified mappings, adjust and save them. When you do this they are transitioned to the verified state.
In general, it is a best practice to review unverified mappings before closing the accounting period.
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