How to do account mapping in Peakflo?

To configure account mappings follow the steps below:

1. Click on "Configure Account Mappings".

2. Select the accounts that you'll use to sync with your accounting system.

Here is a breakdown:

• Payment processing fees: Select the chart of accounts to sync payment processing fee entries.
• Bill item default: Select the chart of accounts to sync bill items that are not assigned to any accounts or GL codes in Peakflo
• Rounding account: Select the chart of accounts to sync any rounding amount
  
• Map Withholding Tax to Accounts: Select the types of withholding taxes linked to the chart of accounts to automate receivables and payables reconciliation. Click on View All to see more options for the withholding tax.
  • Account for receivables: Select the chart of accounts to sync withholding tax receivables entries.
  • Account for payables: Select the chart of accounts to sync withholding tax payable entries.
• Map wallets to bank account: Set the relevant currency for the chart of accounts linked to cash inflows and outflows. Click on View All to see more options for the currencies.

• • Wallet account: This will be the corresponding account of the wallet in your accounting software.
  • Funding account: Corresponding account in your accounting software from where top-up to AP wallet is being triggered
  • Disburse account: Corresponding account in your accounting software from where AR payout is being triggered

• Map currencies to bank account: Make sure that the currencies in your transactions are mapped to the right accounts. Click on View All to see more options for the currencies.
  • Receivables account: Select the bank account to sync customer collections. 
  • Funding account: Select the bank account to fund the Peakflo wallet. 
  • Payables bank account: Select the Peakflo wallet created in your accounting software.

3. When you're done, you can click "Save Settings" at the top right.