Can I map to Leadsheets if I am not doing Financial Statements?

A commonly asked question by clients who have imported a Trial Balance and are working solely on an audit is, "do I have to map to these levels of numbers?" 

Yes! Even if you are only running an audit engagement you still must map to all levels as mapping is not a one-to-one relationship, it is a one-to-many. 

When you map, you get a type. The type calculates the net profit. However, if you don't map (as shown below) the type will stay as an income statement and your net profit will remain at 0. 

The sign determines what value the account should display in the CaseView documents and automatic work papers, so again if we don't map these will remain the one sign. 

The Lead sheets column drives the Lead sheet documents.

Additionally, the Class column also drives some important documents throughout the Working Paper. It is responsible for the ratios document which gives you another level of detail regarding the engagement, and the 'Summary of identified misstatements' document which looks at all journals you've posted, but in particular any uncorrected journals are published here. 

You need to map to get all these properties listed above, and also to make use of flips and other conditions. 

To map: 

1. Go to 'Account' in the home ribbon > 'Assign Mappings'. 

Some firms opt to use 'Assign Groupings' > 'L/S' but this is incorrect as it still thinks the items are Income Statements and this causes problems.

If you find mapping daunting due to the large amount of mapping numbers available, you are able to reorganise the mapping numbers. Right click on the right hand side and choose 'Name/Number view'.

This will put all the groups into alphabetical order and make the appropriate mapping numbers easier to find.

There's another level of filtering you can apply on top of this;

• If it is an audit only file: Go to 'Select Tag' dropdown in the top right hand corner and choose Audit. 
  

This will cut the mapping down to just the relevant numbers for the engagement type.

Alternatively, with the release of smaller templates such as MicroAudit- easier mapping can also be achieved.

• Related Articles

• How do I Sort Content Within the Financial Statements?

  The Document Map provides the ability to navigate around the financial statements, however, it is also used to sort both statement areas and notes to the financial statements. To sort content within the financial statements, complete the following ...

• How to prepare an 18 Month period Financial Statement

  Prior year: 12 months ending 30 June XXXX Current year: 18 months ending 31 December XXXX  If there is a change in the entity's reporting date like shown above, there are three primary areas to set:  a. CaseWare file Setup b. Leadsheets / Automatic ...

• Cloud Financials Process Map

  The Cloud Financials process map attached below provides Caseware Cloud Financials users with an efficient and effective step-by-step approach to generating a set of financial statements. To go alongside the process map, we have a series of FAQs to ...

• How to Export the Financial Statements into Microsoft Word

  To export Financial Statements to Microsoft Word, follow the procedure below: 1. Open your Financial Statements. 2. From the File tab, select Export > Rich Text Format. 3. In the File Name enter the name of the RTF file. 4. Click Save.   

• How to add or remove a Note Reference in the Financial Statements

  To add/remove a note reference in the Statement of the Financial Position: 1. Using your mouse, select anywhere within the Statement of the Financial Position. 2. From the Statements to the Financial Position tab, select Options and tick Note ...