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Import a general ledger (periodic)

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Summary

A general ledger ("GL") is a fundamental component of a double-entry bookkeeping system and a core accounting document. As an entity's primary accounting record, it summarizes all financial transactions in an organized and systematic way.

When you import GL data for analysis using the periodic time frame*, you can do so on an ongoing basis. For example, if you wanted to analyze GL data on a monthly basis for one calendar year, you would import and analyze the January data first, then import and analyze the February data, etc., until you reach the end of the analysis period.

Follow the steps below to import your GL files into MindBridge:

Plus, learn what to do if you need to delete or replace a GL file, or restart the import process.

*Note: If you are using the full or interim time frame, follow the steps for this import process.

Configuration details

You must create an analysis before you can import a GL file into MindBridge.


Go to the Data page

  1. Select the logo in the MindBridge sidebar.
    You will go to the Organizations page.
  2. Select View in line with the desired organization, or click anywhere in the organization row.
    You will go to the Engagements page.
  3. Select View in line with the desired engagement, or click anywhere in the engagement row.
    You will go to the Data page for that particular engagement.

Tip: If you are already in an analysis, open the sidebar ( Sidebar open-close icon ) and go to the Data ( Data page icon ) page.


Select files to import

In a periodic GL analysis, files are imported on an ongoing basis, and as a result MindBridge develops an understanding of your data as it accumulates over time. If historic data is available, you can give MindBridge's analytics a head start by importing a GL file that contains prior period data.

Note: Ensure duplicate data is not imported — MindBridge does not block import of any files if the file type is supported. Duplicate entries and transactions will be included in the analysis, and will lead to inaccurate results.

Current period

The current period date represents the whole analysis period, not just the increments you want to import periodically. For example, if you wanted to analyze GL data on a quarterly basis for one calendar year, the Q1 file would be imported and analyzed first. Then, the Q2 data would be imported into the same slot as the Q1 file and analyzed, and so on until you reach the end of the analysis period.

Prior period

The prior periods represent data from previous analysis periods. The data you import into "Prior period 1" should end immediately before the current analysis period begins, with no gaps or overlapping dates between periods.

Note: Ideally, the data in each prior period should represent one full prior analysis period. For example, if your current analysis period will represent one calendar year (January to December of 2022), the prior period data should span the same time frame for the previous year (January to December of 2021).
Tip: Import at least 6 months of historic data before running your first periodic analysis for best results.

Add files to the analysis

MindBridge supports several ways to add and import files.

Method 1: Drag and drop

  1. On the Data page, drag and drop your file into the appropriate period of the General ledger row.
  2. Once the file has loaded, select Continue import.
    You will go to Data Validation, the first step in the import process.

Method 2: Browse your computer

  1. On the Data page, select Browse... in the appropriate period of the General ledger row.
  2. Select Browse your computer from the menu.
  3. Select the file you want to use and Open it.
    The file imports into your analysis.
  4. Once the file has loaded, select Continue import.
    You will go to Data Validation, the first step in the import process.

Method 3: Browse file manager

  1. On the Data page, select Browse... in the appropriate period of the General ledger row.
  2. Select Browse file manager from the menu.
    A pop-up window appears.
  3. Select the file you want to use.
  4. When you are satisfied, Import the file.
    The file imports into your analysis.
  5. Once the file has loaded, select Continue import.
    You will go to Data Validation, the first step in the import process.

Method 4: Import using a data connector

Data connectors allow you to import all available data needed for analysis at once. On the Data page, you can invite a client to connect or connect yourself to a data connector.

Once the file has loaded, select Continue import. You will go to Data Validation, the first step in the import process.

Refer to our article on Bulk importing using a connector.


Step 1: Data validation

This is the first step of the import process, where you can validate the data within your file by reviewing the file details, integrity checks, and column preview. These details are presented here to help you determine if the data has critical issues, or if you can proceed with it as it is.

Data format

If your file contains grouped data, MindBridge will not be able to analyze it. 

Select Format data to automatically format the data into an ungrouped format, then proceed with the import process. 

Note: If the file contains multiple sheets, MindBridge will only analyze data on the first sheet in the file. If needed, you can use the split and merge tools in the File Manager ( File_manager_icon ) to extract and combine select sheets from the original file.

File details

These high-level file details on the left side of the screen can help you be sure that the imported data meets your expectations.

Learn about file details

Integrity checks

These checks include detailed information on every column within the data. They may indicate issues with the file, but most will not prevent you from continuing the import process.*

Note: Your data must contain at least 1 column with only numeric values. If MindBridge detects a non-numeric character in a numeric column, you will not be able to proceed. To resolve the issue, remove non-numeric characters from the numeric column and re-import the file.

Learn about integrity checks

Column preview

These statistics can help verify your expectations, and may assist you in finding anomalous data right away.

Use the chevron icon ( Expand chevron icon ) to expand the section and see a preview of your columns.

Learn about previewing your columns

GIF showing the data import process.gif


When you are satisfied that the data is correct, select Next to proceed to the Map Columns step.

To exit the import process, Close the page. MindBridge will save your progress.


Step 2: Map columns

Once you are satisfied with the data's integrity, you can map your existing column headers to MindBridge's columns. Mapping columns allows MindBridge to read, understand, and apply analytics to your data.

Tip: The Manual Entry control point uses the Type and Source columns mapped in this step to search for keywords your firm has identified as suspicious.
Note: The Account ID, Effective Date (i.e., the date the transaction actually takes place), and the Amount columns are required. For a detailed list of the expected columns in a general ledger file, see Data checklist: General ledger.
  1. Drag and drop a field from Your Data Column Headers to the appropriate field beneath Mapped Columns.
  2. If your data columns do not line up one-to-one with the MindBridge columns, use the more actions menu ( More_actions_menu_icon.svg ) to split, join, or duplicate columns to make the needed adjustments, or add a column for filtering.
  3. When you are satisfied that the mappings are correct, select Next to proceed to the Analysis Period step.

Import data - Map columns step.gif


To return to the previous page, select Back.

To exit the import process, select Close. You will go back to the Data page and MindBridge will save your progress.


Step 3: Analysis Period

This step allows you to verify the accuracy of your data by providing a snapshot of where it falls within the defined analysis period.

Note: Out-of-period entries are not included in the analysis. To avoid issues such as unbalanced transactions or unbalanced accounts, ensure the current period start and end dates are correct and that an appropriate Effective Date column has been mapped.

Screenshot showing the Analysis Period step.png

Review analysis period settings

Review the following items for accuracy. 

The left-side section provides an overview of:

  • The analysis period date range with the option to adjust it by selecting Edit
  • The number of entries that fall within the period
  • The number of entries that fall outside of the period
  • The total debit value of entries within the period
  • The total credit value of entries within the period

The central graph displays the number of entries within and outside of the analysis period, with the option to view by day, week, or month.

The right-side section provides integrity checks related to the analysis period:

  • Whether or not the ledger contains any out-of-period entries
  • Whether or not there is a gap between any periods
  • Whether or not any periods overlap

When you are satisfied that the analysis period data is correct, select Next to proceed to the Review Data step.

To return to the previous page, select Back.

To exit the import process, select Close. You will go back to the Data page and MindBridge will save your progress.


Step 4: Review Data

This step allows you to verify the accuracy of the imported data.

  1. Optionally, use the menu to select how transactions should be identified within the data (by transaction ID, or some other way), and if desired, run the Smart Splitter
    The screen is updated each time you run the Smart Splitter.
  2. Review the snapshot of your data.
  3. Review the graph, which shows the number of transactions in your ledger on the y-axis, and the number of entries in each transaction on the x-axis.
  4. Review the integrity checklist below the chart.
    Warning icons indicate an item that might be worth investigating. These checks do not affect your ability to run the analysis.
  5. Review the Data preview at the bottom of the screen.
  6. When you are satisfied, select Next to proceed to the Adjust Settings step.

GIF showing the Review Data step.gif

To return to the previous page, select Back.

To exit the import process, select Close. You will go back to the Data page and MindBridge will save your progress.


Step 5: Adjust the settings

Some control points can be adjusted, while others require your input.

The Adjust Settings step allows you to make adjustments to the following control points:

  • Material Value
    • This control point flags entries with monetary values over a given threshold. 
      • Note: Adding a material value on this page does not enable the control point. This control point must be enabled through the engagement settings by increasing its weight from 0. 
    • The value entered for this control point is not related to the value entered for materiality filters used during account scoping.
  • Manual Entry 
    • This control point searches the Type and/or Source columns (if mapped) for the indicated keywords. You can add and remove keywords as needed.
  • Suspicious Keyword
    • This control point searches the Memo column (if mapped) for the indicated keywords. You can add and remove keywords as needed.
Note: Changes made here will be applied to all analyses within the engagement, but will not affect control point settings in the library.

When you are satisfied with the settings for these control points, select Finish import.

GIF showing the Adjust Settings step.gif

You will go back to the Data page, where you must verify the accounts before running the analysis.

To return to the previous page, select Back.

To exit the import process, select Close. You will go back to the Data page and MindBridge will save your progress.


Next step: Import a file to add new data

New files of data can be added to the current period on a regular cadence, such as monthly, or quarterly, until the end of the analysis period. Prior period data cannot be altered once the analysis has been run.

  1. Drag and drop your file into the current period GL slot, or open the more actions menu ( More actions menu ) on the right side of the GL slot and select one of the following options:
    • Import new data from computer
    • Import new data from file manager
  2. Follow the prompts to select your desired file.
  3. Once the file is loaded, select Continue import.
    *Each time you import new data, you will be taken through a condensed version of the import process:
  4. When you are satisfied with the settings for these control points, select Finish import.
    You will go back to the Data page. You may need to verify the accounts again.
  5. When you are satisfied, select Run analysis to perform the next run.
    Details about each analysis run will be recorded in the Run history section of the analysis on the Data page.
  6. Repeat steps 1 to 5 as needed, until you reach the end of the analysis period.
Tip: If you are confident the data is correct, you can select Skip at the top of the screen to import the file in one step.

Restart the import process

You can restart the import process for the most recently imported GL file any time, regardless of whether the analysis was run or not.

  1. Open the more actions menu ( More actions menu ) in line with the desired file.
  2. Select Restart import.
    A confirmation window will appear.
  3. Select Confirm to restart the import process.
    You will go back to the Data page, and will see the option to Continue import.

Select Cancel any time to go back to the Data page without restarting the import process.


Replace a general ledger

Replace the most recently imported GL file with a file from your computer or the file manager, regardless of whether the analysis was run or not.

  1. Open the more actions menu ( More actions menu ) in line with the desired file.
  2. Select your replacement preference:
    • Replace file from computer
    • Replace file from file manager
  3. Select the file you want to import into the analysis.
    The existing file will be removed from the analysis and replaced by the file you selected, but a copy of the original will remain in the file manager.

Select Cancel any time to go back to the Data page without replacing the file.


Delete a general ledger

Permanently remove the most recently imported GL file from the analysis

  1. Open the more actions menu ( More actions menu ) in line with the desired file.
  2. Select Delete file.
    MindBridge will confirm that you want to remove the file from the analysis.
  3. When you are ready, Delete the file.
    The file will be removed from the analysis, but a copy will remain in the file manager.

Select Cancel any time to go back to the Data page without deleting the file.


Anything else on your mind? Chat with us or submit a request for further assistance.


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