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Import adjustments, reclassifications, and eliminations

Article author
Chrissy Bridges
  • Updated

Summary

You can import 3 types of adjusting entry files into the analysis. Learn about adjustments, reclassifications, and eliminations, and how to import them into MindBridge.


Configuration details

You must run a successful general ledger analysis before importing adjusted files.

Learn about the required data for general ledger analyses.


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.


Overview

Adjustments

Adjustments can be used to produce adjusted closing balances and create balances used in the presentation of financial statements.

This file lists accounts and account details similar to a general ledger file format, and provides any adjustments, corrections, or omissions to the original general ledger.

Reclassifications

This file lists accounts and account details similar to a general ledger file format, and provides the ability to move amounts from one account to another for presentation purposes.

Eliminations

This file lists accounts and account details similar to a general ledger file format, and provide the ability to eliminate amounts. For example, cancelling out inter-company transfers within the general ledger file.


Select files to import

MindBridge supports 4 ways to select and import your files.

Drag and drop

  1. On the Data page, drag and drop the file from your computer into the appropriate section: Adjustments, Reclassifications, or Eliminations.
  2. Once the import has completed, Continue to step 1.
    You will go to the Data Validation step.

Browse your computer

  1. On the Data page, select Browse in line with the appropriate section: Adjustments, Reclassifications, or Eliminations.
  2. Select Browse your computer from the menu.
  3. Select the intended file and Open it.
    The file imports into the analysis.
  4. Once the import has completed, Continue to step 1.
    You will go to the Data Validation step.

Browse file manager

  1. On the Data page, select Browse in line with the appropriate section: Adjustments, Reclassifications, or Eliminations.
  2. Select Browse file manager from the menu.
    A pop-up window appears.
  3. Select the file you wish to use.
  4. When you are satisfied, Import the file.
    The file imports into your analysis.
  5. Once the import has completed, Continue to step 1.
    You will go to the Data Validation step.

Import using a data connector

Data connectors allow you to import all available data needed for an analysis at once. You can invite a client to connect or connect yourself to a data connector.

Refer to our article on Bulk importing using a connector.

Once the import has completed, Continue to step 2.


Data Validation

Once the file has imported, validate the data by reviewing the file details, the integrity checks, and the column preview. This information will help you determine whether the data has issues or if you can proceed with it as it is.

File details

These high-level file details can help you be sure that the imported data meets your expectations at a glance.

Integrity checks

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

Column preview

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

When you are satisfied that the data is correct, select Next to continue the import process.


Map Columns

Once you are satisfied with the data's integrity, map its columns. Your existing column headers appear as draggable fields beneath Your Data Column Headers

Note: For a detailed list of the expected columns in a vendor list, see Data Checklist - Accounts Payable.
  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 icons to splitjoin, or duplicate columns to make the needed adjustments, or add a column for filtering.
  3. When you are satisfied, select Next to proceed. 
    You will go back to the Data page.


Run adjustments

After importing any adjustment, reclassification, or elimination files, you can Run adjustments to run these new files through the analysis.

Note: The option to View analysis is still available prior to running the adjustment files. 


View adjustments

Once the adjustments have been run, the adjusted balances can be seen on the Financial Statements, Trends, and Ratios dashboards.

  1. Go to the dashboard of your choice.
  2. Use the Adjustments toggle to show or hide the adjustments on these dashboards, as desired.
Note: Adjusted entries are not applied to or included in risk scores. Additionally, they are not incorporated into calculated closing balances, nor are they available during a roll-forward operation (as this operation makes use of the calculated closing balances without adjusted entries applied).

Anything else on your mind?

Head over to the community with your thoughts and inquiries! You can also chat with us, or, submit a request for further assistance.

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