Portal: Categorization of accounts


Categorization of accounts - Beta testing

Please note that the feature is still in testing mode and hasn't been fully released yet. The only integration we currently support is the one with the Quickbooks Online platform (excl. Quickbooks Online France).

If you're interested in participating in the pilot testing, please contact your sales representative.

Categorization of accounts in the Codat Portal

Your customers will be able to access the Codat Portal to review suggested mappings and confirm or re-categorize them if they find that some accounts have been miscategorized.

Account categories have three sub-categories:

  • Account type — the highest level classification of an account, e.g. Asset, Liability, etc.
  • Account subtype — category often used for traditional financial ratios, e.g. Current assets, Current liabilities, etc.
  • Account detail — individual accounts, e.g. Cash, Inventory, Depreciation, etc.

How to categorize accounts?

To set categories to accounts:

  1. On the company data page in the portal, select the Accounting/Banking tab, then Accounts > Categorize accounts.
  2. Select Manage by the the account type you want to set a category to.
  3. Set a subtype and details for each account listed. You can learn more about Account subtype and Account detail in the Terminology guide available under the Question mark icon.
  4. Save your settings to confirm your categories.

Note: Each account name has a clickable "Information" icon assigned to it with categories we suggest be used for a given account.

How to exclude a category from categorization?

If you don't want to set a category for an account, check the Unset box by the selected account and save your settings. The account will then be treated as an "Unconfirmed account" and will have a yellow circle next to it. You'll always be able to come back and revisit your settings later.

Note that applying the Unset option to an already confirmed category reverts it back to the category suggested by Codat. This means that when you open the mapping modal window again, the unset category boxes will not be empty, but will have the suggestion made by Codat and will have a yellow circle to indicate that the category is yet to be confirmed.

How to export categorized chart of accounts?

You can export the chart of accounts in an Excel file:

  1. Go to Companies and choose the company whose data you want to see.
  2. Click the 'Generate now' link and wait for the File to generate/re-generate.
  3. Click the 'Download Excel' button.

Your Excel file contains:

  • The "Categorized Account Balances" tab.
  • The output of GET /companies/{companyId}/connections/{connectionId}/metadata/accounts/categories endpoint listing the categories.
  • A balance of the account category for every financial period available in the financial statements.

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