The Chart of Accounts is a list of categories that is used as line items in the Cash Flow of all Historicals. The Chart of Accounts in redIQ can be customized to match a company's internal Chart of Accounts used in its own analysis and underwritings. To Add, Edit, or Delete any of the accounts click click your name in the top right corner of the screen and select Chart of Accounts. Note that only Corporate Administrators can make these customizations. For a list of Corporate Administrators, go to the Manage Users screen.
On this screen any Account can be added, edited, or deleted by selecting the corresponding button in the top right corner. When adding or editing an Account, enter in the preferred name of the Account, a shorthand Code to be used when mapping the data, and a redIQ Category for it be associated with. In the Cash Flow on redIQ whatever is entered as the Account name will appear, but it must be associated with a redIQ Category for the rest of the reports to work so make sure the most relevant redIQ Category is selected. For example, to add a "Trash Removal" Account, click the Add Account button in the top right and enter a shorthand Code and a relevant redIQ Category such as Other Utilities.
Note for Valuation Clients: When generating a model the Historicals data will be rolled up into the redIQ Category associated with the Account. While the Accounts can be customized in the online platform, the model is built based on the default redIQ Categories and the model cannot be customized to that extent.
The order that the Accounts appear can be edited by hovering over the three bars next to the Account name and clicking and dragging it into the preferred position.
When deleting an Account, it must be reassigned to another Account to ensure all mapped historicals remain intact. In the example below, if the Security Account is getting deleted then all deals in redIQ with a line item assigned to the Security Account will be reassigned to the Contract Services Account, ensuring all historicals in redIQ remain fully mapped.