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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 how to access the pre-analysis completeness check and export the report.

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 check and the report

There are 2 ways to access the pre-analysis completeness check.

From the Data page

  1. Import an opening balance file, a closing balance file, and a general ledger.
    The pre-analysis completeness check becomes available on the Data page.
  2. Open the more actions menu ( More_actions_menu_icon ) in line with the analysis name.
  3. Select View checklist.
    The import checklist appears.
  4. Select the chevron ( Expand_chevron ) beside the Reports dashboard section to expand it.
  5. Find the Pre-analysis completeness check and select Calculate balances (or Recalculate balances if you have already verified the accounts).
  6. Compare the top-level balances to the calculated values, or Export the report for a complete account list.

From the Verify accounts workflow

On either of the Account mapping or Review steps:

  1. Open the Actions menu near the top of the page.
  2. Select Export.
  3. Select Completeness check. 
  4. Check the boxes next to the analyses you want generate a report for.
  5. Select Export.
Note: If a file is replaced or an account mapping is changed, Recalculate balances before running the analysis.
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.

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

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