Chart of Accounts

When it comes to creating a custom chart of accounts, Wrapbook gives you the flexibility to choose how you want to manage your templates—either for your whole company, or project by project. 

Let’s take a look at how to add a chart template for your company and enable the template for use on a project.

Creating a company-level chart

To get started, navigate to Company Settings > Accounting Settings > Project Chart Templates.

Click Edit > + Add Chart. Enter a chart name.

Note: This name can be edited at any time using the pencil icon.

Select how you would like to create your chart. Choose from: Blank Template, Copy from Wrapbook AICP Template or Import from CSV.

Let’s take a closer look at each option:

Blank template:

‍This option allows you to create your own chart from scratch. Once you click Create & Manage, you will be returned to the project chart page to start creating your chart. Click +Add to Chart to add sections and/or lines.

Copy from Wrapbook AICP Template:

This option will allow you to customize Wrapbook’s Default Commercial AICP template. This chart will provide a pre-filled chart template with 20 sections & 250+ lines - a great starting point to begin building a chart for your company. Once you click Create & Manage, you will be returned to the project chart page to begin customizing the template.

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Import chart from CSV:

‍Enter a Name for your chart and select Import from CSV. Click Create & Manage. From here, click Download Import Template. Once the template is downloaded the file will contain optional and required fields. 

If there are errors with the import, Wrapbook will flag each one and include the row and details of each error. In most cases, errors will be related to a required field. 

To ensure a successful import: ‍

• ‍Confirm Cost Code and Cost Category columns are included
• Sections are not required, but if you use them, be sure to include short code
• Category options include Labor, Expense, Fringe, and Platform Fee

Note: If you have already set up your accounting integration, you can copy & paste your chart of accounts from that system into the Mapping To column.

Once the import file is ready, click Choose CSV File. Locate the file on your computer and select Import. Once the file is imported, you will see the file on the project chart page.

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Enabling the chart for selection on a project

Once your chart is created it will automatically be enabled for selection when creating a new project. 

If you want to disable the chart template for use on future projects, go to Cost Tracking & Accounting Options and use the toggle to disable. This toggle can be found under the chart name in the top left-hand corner of your template. 

Note: Once a chart is enabled, the only fields that can be edited are the description for a line and name for a section. Any changes made to these fields will not change the master template for the company.

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Selecting a chart template for a new project

When creating a new project, under Cost Tracking & Accounting Options, select a chart template from the drop-down. (Note, if the chart template is disabled, it will not appear.)

If you have yet to create a chart template for your company, you will be asked if you would like to use Wrapbook’s Default Commercial AICP template. You can edit this template in Company Settings > Project Chart Templates > Edit.

With a chart template in use for your project, you’ll be able to select line numbers on timecards and expenses. 

Note: If you select No account chart, you determine what you want to enter for cost codes across all payables. You will add the cost code directly to the timecard or expense; no template is in use, all freeform text.

Maintaining charts

Editing a company-level project chart

Once a template is created, you can add, edit and delete lines and sections. 

Click Edit next to the template you wish to edit.

Within a section, you will be able to edit the short code and section name. Within a line, you will be able to edit the cost code, description, section and cost type.

‍Editing chart sections

• To edit a section, click Section next to the section you would like to edit. Here, you can also edit the Section Position. This allows you to move a section before or after any other section in the chart.
• To add a section to your chart, click + Add to chart and select +Section at the top of the page.

Editing chart lines

• To add a line to your chart, click + Add to chart and select +Line at the top of the page.
• To add a line to a section in your chart, click + Line to the far right of the section name.
• To edit a line within your chart, click the grey pencil icon.
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‍Note: If you are using Wrapbook’s Quickbooks Online integration, you will have the option to map lines to your QBO account anytime lines are added or edited.

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To delete a section or line, click the trash can.

Click Save to save all changes to the line or section.

To remove all edits, click Cancel.

Please note that charts can be only deleted if they have not been enabled for projects. 

To delete a chart completely, navigate to Company Settings > Project Chart Templates and select Edit next to the chart you would like to delete. Scroll to the bottom of the page and select Delete Chart.‍‍

You can override a section name or line description for a specific project in Project Settings. 

This allows you to make adjustments for one project without disturbing the company’s master chart of accounts.

To edit, click View Project, navigate to Settings and click Edit next to the project chart line item.

• To edit a section within your project chart, click Edit Section. Enter a new section name and click Save.‍
• To override a line description for your project, click the gray pencil icon. Add the new
  description and click Save.

Note: If you are importing a budget file into Budget Tracker, Wrapbook’s actualization tool, you will have the option to override cost code descriptions. Override will remove the step of updating cost code descriptions manually for your project. To learn more, visit Budget Tracker (will add link).

Mapping line numbers 

If you have elected to use a Wrapbook integration and configured this integration in Company Settings, you can now map your Wrapbook cost codes to your chosen integration.

Navigate to Company Settings > Project Chart Templates > Edit.

The Map To buttons will be highlighted in blue, confirming the Integration has been set up.

Click Map To next to each line in the project chart. 

Use the search bar to search by ID or description.

With Map To selected, each time a payroll is funded in Wrapbook, all payroll information will be transferred to your accounting system—wages, expenses, invoices, fringes, platform fees, and workers’ compensation—allowing for line-by-line and section-by-section accounting granularity.