The Completeness Check Report is an exported .XLSX file that can help you confirm the completeness of the analyzed general ledger (GL) information by comparing the opening balances and general ledger activity against the provided closing balances.
There are 3 files required in order to leverage the GL Completeness Check report:
How completeness is calculated
When using the completeness check report for GL, it is important to understand the math behind the scenes.
Opening Balance + GL Activity = Closing Balance
If you have provided the files for the 3 components in the above equation, MindBridge will start by calculating the left side of the equation (opening balance + GL activity). The result of this calculation is done for every account and is then compared against the accounts in the supplied closing balance file.
There are 3 possible outcomes for each account using this calculated approach:
- Balanced: If the number that MindBridge calculated is the same as the number in the supplied closing balance file, it will be considered balanced.
- Within tolerance: If the number that MindBridge calculated is within the designated tolerance amount (default is $1.00) from the number in the supplied closing balance file, it will be considered within tolerance.
- Out of balance: If the number that MindBridge calculated is outside the designated tolerance amount compared to the number in the supplied closing balance file, it will be considered out of balance.
If you have accounts that are out of balance, check out these troubleshooting tips for the Completeness Check Report.
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