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Pre-analysis completeness check (General ledger)

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Summary

The pre-analysis completeness check can help you assess the completeness of a general ledger ("GL") by comparing top-level closing balances with calculated values. This check, performed before an analysis is run, enables you to identify and correct any data or account mapping issues before running the analysis.

Learn which files are required, how to access the pre-analysis completeness check, and discover how completeness is calculated.


Required files

There are 3 files that must be imported to access the pre-analysis completeness check.

*Tip: Roll the Profit and Loss accounts into Equity before importing.

Access the Completeness check

You can access the pre-analysis completeness check from the Data page, or from the Verify accounts workflow, provided that an opening balance file, a closing balance file, and a general ledger file have been imported into a General ledger analysis on the Data page. 

From the Data page

  1. Open the more actions menu ( More actions menu ) in line with the analysis name.
  2. Select View checklist. The import checklist appears.
  3. Use the chevron icon ( Expand_chevron ) beside the Reports dashboard header to expand the section.
  4. Find the Pre-analysis completeness check and select Calculate balances (or Recalculate balances if you have already verified the accounts).
  5. Compare the top-level balances to the calculated values, or Export the report for a complete account list. If you export, the Excel file will appear in your default download location.

From the Verify accounts workflow

On the Review step, you can run a completeness check on the analysis of your choice.

  1. Use the View menu (located on the left side of the page) to select the analysis you want to run a completeness check on.
  2. Select Export completeness check (located on the right side of the page). The Excel file will appear in your default download location.
Note: If a file is replaced or an account mapping is changed, select Recalculate balances to see to most up-to-date information.
Note: Once the analysis has been run, you can view and export the finalized Completeness Check Report from the Reports tab.

How completeness is calculated

It is important to understand the math behind the scenes of the pre-analysis completeness check.

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:

  1. Balanced: If the number that MindBridge calculated is the same as the number in the supplied closing balance file, it will be considered balanced.
  2. Within tolerance: If the number that MindBridge calculated is within the designated tolerance amount (the $1.00 default is only adjustable on the Reports tab after running the analysis) from the number in the supplied closing balance file, it will be considered within tolerance.
  3. 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.


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