This is step two of three for creating a financial configuration in Litify Financials. If you haven’t completed step one: Balance & Summary Builder, click here. Move on to step three when you've finished this step.
This step only applies if your Org has chosen to use the Ledger, and the Ledger has been enabled in Financial Summary Setup.
About Object Mapping
When creating a financial configuration, the financial objects must be mapped back to the selected Ledger object. This defines on an object level which fields are mapped from the starting object onto the Transaction so that the system knows which field values belong on the Transaction being created. (Ex. Original billed amount or Payee/Payor). This ensures that data meant to be passed over isn’t lost.
- Ensure the financial objects you’re using have a lookup to ‘Account.’ Lookups can be added via Object Manager in Setup
- This process will look different if your Org is using a custom Ledger object. We highly recommend using Litify’s packaged Transaction object.
Mapping Objects Using the Packaged Transaction Object
Litify Financials includes a new Transaction object, which streamlines the process of object mapping when creating a new configuration. This section will outline how to map objects using the packaged Transaction object.
- From the starting page of your configuration, you should see a checkmark next to Define Balance & Summary (indicating that step is complete).
- Click Map Objects to start step two.
Objects are mapped individually. If you're using an Item Group, each item in the group must be mapped to the Ledger Object separately.
There are two fields which must be mapped when using the Transaction object:
- Payor/Payee: Communicates which account the transaction belongs to.
- Amount: Defines which currency field amount will be populated on the transaction amount.
To begin mapping objects, follow the steps below:
- Map your financial objects to the Ledger by clicking in the search box beside Payor/Payee.
- Select the object (left window), followed by the specific field (right window).
- For this example we clicked Payee > Party.
- Click Select to confirm your selection.
- Click the down arrow for the picklist beside Amount.
- Click the currency field you'd like to be displayed for Amount in the Ledger (for example, Amount Due).
- Click Select.
- Repeat for each item for which you'd like to allow transactions.
Adding Default Values for Accounts
Optionally, you can select a default account value for any transaction created using the selected tab. This can help you save time, as the system can pre-populate certain information. Select a tab, and use the picklist under Set Account Default Value if you wish to use this functionality.
Mapping Objects Using a Custom Ledger Object
Some firms have an established workflow for capturing financial transactions, and therefore will want to use a Custom Ledger Object. While we highly recommend using our packaged Transactions object, you can still complete the Object Mapping step with a custom object.
- From the starting page of your configuration, you should see a checkmark next to Define Balance & Summary.
- Click Map Objects to start step two.
You'll immediately notice that instead of two fields which require mapping, there are exponentially more fields to map. This is because the system doesn't know which fields your firm does and does not want mapped.
While you'll be presented with many fields, there are only two which are required: the identifying field (similar to Payor/Payee) which tells the system which record the transaction belongs to; and the amount field, which communicates which field is displayed in the amount column on the Ledger.
- To select the identifying field beneath the Ledger object, click the down arrow for the picklist.
- Select the field which should maintain the relationship between the starting object and the Ledger object.
- Next you'll select the field you want to populate for the amount summary.
- Click the down arrow for the picklist beside the amount field on your custom object .
- Click the currency field you'd like to be displayed for this record in the Ledger.
- Now you can map any additional object fields.
A warning icon will appear indicating that the field you're mapping doesn't exist on the Ledger table. You can choose to proceed with mapping additional fields, just note that the mapping will occur in the background, and not be visible.
- Once you've mapped your objects, scroll down and click Save.
- Repeat with each object you want to map to the Ledger.
Some firms might want to display certain items on the ledger table, but not want Users to create transactions using the object (for example, you might want to display Attorney's Fees, but not want Users to create transactions based purely on that item).
To disable transactions for an item, click the slider beside Allow Transaction.