Data checklist: General ledger (For-profit and not-for-profit)

Updated September 01, 2021 17:02

Summary

Learn about the data components and fields required to run a general ledger analysis within MindBridge.

General ledger
Opening trial balance (i.e., Previous year post-closing trial balance)
Closing trial balance
Chart of accounts
MindBridge Account Classification (MAC) code system
Interim analysis (i.e., Partial general ledger)

MindBridge provides powerful analyses with minimal data, but importing additional data fields unlocks additional features and filtering capabilities (such as searching by company, branch, cost centre, department, etc.) so the results can be analyzed more efficiently and effectively.

General ledger data

A general ledger is a book of accounts containing detailed information on journal entries, including their respective debits or credits and associated account numbers.

The general ledger file should be exported from an ERP or accounting system in either .xlsx and/or .csv format.

#	Field name	Description	Required?	Control points in effect
1	Account ID	The identifier for the general ledger financial account. This information is also found in the chart of accounts. Example: 14028	Yes	Cash Expenditure Cash to Bad Debt Conversion Complex Structure Duplicate Expense Flurry Expert Score Flow Analysis Fund Expense Flurry Outlier Anomaly Rare Flow Reporting Period Adjustment Reversal Reversed Split Expense (Single Transaction) Split Expense (Multiple Transactions) Unusual Amount Unusual Amount by User (recurring)
2	Account Description	The name of the general ledger financial account. This information is also found in the chart of accounts. Example: Cash and Cash equivalents	No	N/A
3	Effective Date	The date when the journal entry takes effect in the ledger, regardless of when the entry was posted. This date may also be known as the “accounting date”. Example: 2014-01-01 (YYYY-MM-DD)	Yes	Analysis Period Adjustment Duplicate End of Analysis Period End of Reporting Period Start of Analysis Period Start of Reporting Period Reversed Reversal Cash to Bad Debt Conversion Flow Analysis Outlier Anomaly Reporting Adjustment Unusual Amount by User (recurring) Weekend Post
4	Debit	The debit value of the entry. Example: 19,834.22	Yes	2 Digit Benford Complex Structure Duplicate Expense Flurry Fund Expense Flurry High Monetary Value Interfund Transfer Last 3 digits Material value Outlier Anomaly Split Expense (Single Transaction) Split Expense (Multiple Transactions) Unbalanced Credits and Debits Unusual Amounts Zero Entry
5	Credit	The credit value of the entry. Example: 19,834.22	Yes	2 Digit Benford Complex Structure Duplicate Expense Flurry Fund Expense Flurry High Monetary Value Interfund Transfer Last 3 digits Material value Outlier Anomaly Split Expense (Single Transaction) Split Expense (Multiple Transactions) Unbalanced Credits and Debits Unusual Amounts Zero Entry
6	Amount	The entry’s value, which may be either positive (i.e., debit) or negative (i.e., credit). Example: 19,834.22 (debit position) -19,834.22 (credit position) Note: “Amount” is an alternative field for general ledgers that do not provide entries split into separate debit and credit fields.	No	2 Digit Benford Complex Structure Duplicate Expense Flurry Fund Expenses Flurry High Monetary Value Interfund Transfer Last 3 digits Material value Outlier Anomaly Split Expense (Single Transaction) Split Expense (Multiple Transactions) Unbalanced Credits and Debits Unusual Amounts Zero Entry
7	Entered Date	The date the entry was posted in the general ledger, regardless of when it takes effect in the accounting cycle. Example: 2014-01-01 (YYYY-MM-DD)	No	N/A
8	Transaction ID	The transaction ID is a unique code that identifies each of the journal entries. Example: 6524	Yes	All transaction-level control points
9	Transaction Type	This represents the “classification” of the transaction; usually based on a predefined list. Examples: Cash receipts, cash disbursements, general journal, credit memo, purchases, sales.	No	Manual Entry
10	Memo	A description of the journal entry. It is typically posted manually and provides the context of the transaction through descriptive content or the use of codes. Example: This was paid on Dec 7 from Account XYZ. It was a manual entry.	No	Complex Instrument Empty Text Field Suspicious Keywords
11	Source	A description of how the journal entry originated (i.e., a system, a manual entry, etc.). Example: General Ledger (GL) Payroll (PR)	No	Manual Entry Zero Entry
12	User ID	The name or identifying code of the user responsible for creating/posting the journal entry. Example: Paul Johnson or 10922	No	N/A

Opening trial balance data

This document comprises the opening debit and credit balances of the balance sheet accounts, with the previous fiscal year’s income statement accounts closed out to retained earnings.

These opening balances should also agree to the issued financial statement from the previous year.

This is an important document to include for data integrity, since it allows MindBridge to check the completeness of account balances.

#	Field name	Description	Required?	Control points in effect
1	Account ID	The identifier for the general ledger financial account. This information is also found in the chart of accounts. Example: 14028	Yes	Cash Expenditure Cash to Bad Debt Conversion Complex Structure Duplicate Expense Flurry Expert Score Flow Analysis Fund Expense Flurry Outlier Anomaly Rare Flow Reporting Adjustment Reversal Reversed Split Expense (Single Transaction) Split Expense (Multiple Transactions) Unusual Amount Unusual Amount by User (recurring)
2	Account Description	The name of the general ledger financial account. This information is also found in the chart of accounts. Example: Cash and Cash equivalents	No	N/A
3	Account Balance	The most up-to-date balance for each of the accounts (refer to the note below the “closing trial balance” table for more information). Example: 18,152.16	Yes	Material Value

Closing trial balance data

This document lists the accounts and their respective balances in the general ledger.

The balance should reflect the most updated amount in each of the accounts (refer to the note after the table below for more information). This data component is an important piece of data integrity since it will allow MindBridge to check the completeness of account balances.

#	Field name	Description	Required?	Control points in effect
1	Account ID	The identifier for the general ledger financial account. This information is also found in the chart of accounts. Example: 14028	Yes	Cash Expenditure Cash to Bad Debt Conversion Complex Structure Duplicate Expense Flurry Expert Score Flow Analysis Fund Expense Flurry Outlier Anomaly Rare Flow Reporting Adjustment Reversal Reversed Split Expense (Single Transaction) Split Expense (Multiple Transactions) Unusual Amount Unusual Amount by User (recurring)
2	Account Description	The name of the general ledger financial account. This information is also found in the chart of accounts. Example: Cash and Cash equivalents	No	N/A
3	Account Balance	The most up-to-date balance for each of the accounts (refer to the note below the closing trial balance table) Example: 18,152.16	Yes	Material Value

Note: Either the unadjusted trial balance or the adjusted trial balance can be used for the closing trial balances. The data provided may depend on the timing of the analysis to be performed (i.e.; before year-end closing, right after the year-end, or after the issue of the financial statements for preliminary analysis purposes).

In case the trial balance is adjusted, the general ledger data should be consistent with the adjustments, and also include the adjustment entries. For this reason, the closing trial balance should be created at the same time as the general ledger data to prevent any differences in transactions as well as in balances.

These formulas demonstrate the concept and the relationship between the trial balances and the general ledger.

Closing trial balance = Opening trial balance + General ledger data activity
Closing adjusted trial balance = Opening trial balance + General ledger data activity + Adjusting entry activity

Chart of accounts data

This document is an index of the financial accounts present in the company’s general ledger.

Field name

Description

Required?

Control points in effect

Account ID

The identifier for the general ledger financial account. This information is also found in the chart of accounts.

Example: 14028

Yes

Cash Expenditure
Cash to Bad Debt Conversion
Complex Structure
Duplicate
Expense Flurry
Expert Score
Flow Analysis
Fund Expense Flurry
Outlier Anomaly
Rare Flow
Reporting Adjustment
Reversal
Reversed
Split Expense (Single Transaction)
Split Expense (Multiple Transactions)
Unusual Amount
Unusual Amount by User (recurring)

Account Description

The name of the general ledger financial account. This information is also found in the chart of accounts.

Example: Cash and Cash equivalents

Yes

N/A

MindBridge Account Classification (MAC) code system

In order to classify your client’s unique accounts, MindBridge uses the MindBridge Account Classification (MAC) code system to map accounts across a wide and diverse range of industries into a single, consistent classification system.

Find out how MindBridge classifies accounts using MAC codes.

This column can be filtered with the filter builder and affects the following control points:

Cash Expenditure
Cash to Bad Debt Conversion
Expense Flurry
Expert Score
Flow Analysis
Fund Expense Flurry
Outlier Anomaly
Rare Flow
Split Expense (Single Transaction)
Split Expense (Multiple Transactions)
Unusual Amount
Unusual Amount by User (recurring)

Interim analysis data

The interim analysis considers partial general ledger data (for example, the analysis may comprise 9 months of general ledger activity, instead of 12 months). The same concept of a general ledger applies to the interim analysis, the difference is that the period does not include the full fiscal year. The analysis can be performed and accessed even after the full general ledger data is received.

For the data fields related to the interim analysis data, refer to the general ledger data section in this document.

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