Definition

Chart of Accounts Mapping is the process of assigning each financial transaction to the correct account code in the bookkeeping system for accurate reporting and tax classification.

Key Points

• Ensures proper financial categorization
• Critical for VAT and corporate tax accuracy
• Supports automated bookkeeping and reporting
• Prevents misclassification errors

Example

A payment to a supplier is recorded as a purchase expense, while payroll is mapped to salary expense accounts.