Chart of Account Mapping

Updated by Admin CG

Mapping your accounts is a crucial step when integrating with QuickBooks Online.

Map items to your financial general ledger's chart of accounts using the Edit Item screen or Bulk Update Item feature.

A chart of accounts is a list of financial accounts used to map transactions to a company's general ledger. An item should be mapped to up to three of these.

Please coordinate with your CPA, Controller, or Bookkeeper for guidance on setting this up.


What is it used for?

Expense Account

This account is used to record and track purchases an expenses of an item.

A suggested default is: Cost of Goods Sold

Examples: Packaging Costs, Raw Materials Costs

Income Account

This is the account is used to book revenue when an item is sold.

A suggested default is: Sales

Examples: Flower Sales, Concentrate Sales, Branded Sales

Inventory Asset Account

This account is used to book the value of inventory on the company's balance sheet.

A suggested default is: Current Assets

Examples: Raw Materials Inventory, WIP Inventory, Finished Goods Inventory

Steps to map an item or set of items to your company's chart of accounts:

  1. Go to Settings.
  2. Select to "Inventory"
  3. Select an Item and map the account (don't forget to save changes!)
    Map a Flourish item to the Chart of Accounts
  4. Alternatively, go to the Bulk Update Items screen to import an update. Use the last three columns, which correspond to the three accounts.
If you use the QuickBooks Online integration, the value must match an account synced from QuickBooks. If you use QuickBooks Desktop, Sage Intacct, Xero, or another system, the Bulk Update Items feature will create entries in Flourish to use going forward, as well as in the Edit Item screen.
Bulk Update Items in Flourish

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