Mapping overview
In ONESOURCE Corporate Tax, mapping is designed to be simple but flexible. It creates a link between the chart of accounts and tax accounts for a specific calculation template, and it determines how imported trial balance data flows to sheets in a calculation. Mapping must be completed before you can automate the import of data into your calculations.
Each calculation is based on a template that has its own set of tax accounts to which you can map. If you plan to customise line items in the
Income Statement
and Balance Sheet
sheets and standardise across a group of calculations, complete the customisation before you start mapping to ensure the map contains all of the tax accounts in your calculations.A map is part of a dataset and relates to a particular reporting year and reporting period. When the dataset rolls forward, the map is also rolled forward. Maps in different datasets are edited independently. Changes do not affect maps in other datasets. A dataset can contain many maps. When you have more than one map, each must be assigned to specific entities in the dataset. When you have a single map, all entities are automatically assigned to it. Maps assigned to various entities can be edited.
The same chart of accounts can be mapped to different calculation templates. For example, if you have some entities that are companies and some that are trusts but both use the same chart of accounts, you can create two maps: one for companies, which maps to the Companies calculation template, and one for trusts, which maps to the Trusts calculation template.
Mapping can be done in ONESOURCE Corporate Tax, by importing a Microsoft® Excel® file, or by converting a map from another system like PowerTax or N-ABLE and importing it to ONESOURCE Corporate Tax.
Mapping can involve individual trial balance accounts (specific account mapping), ranges of accounts (range mapping) in your chart of accounts to tax accounts, or a combination of both. Range mapping can only be used when your chart of accounts structure has accounts grouped in a logical order. Conditional mapping of accounts can switch between debit and credit depending on the nature of transactions for the period (for example, Foreign exchange gain/loss, Profit/loss on disposal of fixed assets).
When your chart of accounts changes, mapping must be updated to reflect new accounts. The advantage of range mapping is that rules are automatically applied without the need to manually update the map.
The
Mappings
module automates the flow of tax adjustments to calculations (tax sensitive mapping). For example, for expense related items that are non-deductible, the tax account contains sub-accounts for Non-deductible, Deductible and Other. Accounts mapped to the Non-deductible tax account give rise to a tax adjustment on the sheet.