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Verify accounts: Account grouping and account mapping

  • Updated

Summary

MindBridge has a new 3-step process to verify your accounts:

  1. Account grouping (at the engagement level)
  2. Account mapping
  3. Review

This process saves time by allowing you to view the account balances and hierarchy before running an analysis, so you can better assess the accuracy of the account grouping and account mappings.

Learn how to verify your accounts at the engagement level before running an analysis in MindBridge.

Note: You must have successfully imported data into an analysis in order to proceed with account verification.

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, use the sidebar ( Sidebar open-close icon ) to go to the Data ( Data page icon ) page.


Verify accounts workflow

Step 1: Adjust and verify account grouping at the engagement level

Account grouping is typically performed by App Admins before setting up a library, but now you can see and re-label account groupings at the engagement level. This will allow you to better align MindBridge with your client's financial statements, without needing to wait for assistance.

These updated account groupings can also be rolled forward into new engagements.

Note: Account groupings can be renamed at the engagement level. These label changes will be reflected in all analyses within the engagement for presentation purposes. MindBridge will not re-interpret accounts based on label changes, and will not alter the nature of the accounts (i.e., account types, grouping levels, or associated MAC codes) at the library level. If you want to make material changes to account mappings or inherited account groupings, seek guidance from your CSM or App Admin.
  1. Select Verify accounts in line with the analysis name.
    You will go to the Account grouping step.
  2. Enter a search term ( Search icon ) or use the Account tags menu to filter for specific accounts.
    Select Reset filter to remove all applied filters, including searched terms.
  3. Use the View menu to pivot the table arrangement:
    • List: View the accounts in a flat structure.
    • Hierarchy: View the account grouping structure created at the Admin level.
      • In Hierarchy mode, use the chevron icon ( Expand chevron ) to the left of each account to expand the levels individually, or open the Actions menu and select Expand all groupings or Collapse all groupings to expand and collapse in bulk.
  4. Open the more actions menu ( More actions menu ) in line with the account structure you want to rename.
  5. Select Rename.
    A pop-up window will appear.
  6. Enter appropriate new account names to the desired accounts.
    Select Revert icon Default beside an account name to revert to the original account name.
    Select Reset all to default to revert all accounts in the window to their original names.
  7. When you are satisfied, Save your changes.
    Accounts that have been updated will be marked as Modified in the Status column.
  8. Select Next to go to step 2 (Account mapping), or select Skip to review to go directly to step 3 (Review).

GIF_showing_the_Account_Grouping_step_of_the_Verify_Accounts_workflow

At any point you can select Cancel to go back to the Data page. 

Export account groupings

  1. Open the Actions menu near the top of the page.
  2. Select Export.
  3. Select which account grouping version you want to export:
    • Current account grouping: The account grouping as it appears at the engagement-level.
    • Default account grouping: The account grouping created at the Admin level.
  4. Export your selection.

Reset all engagement-level account groupings to default settings

  1. Open the Actions menu near the top of the page.
  2. Select Reset to default groupings.
    A pop-up window will appear to inform you that resetting to default groupings will discard all changes made at the engagement-level.
  3. To proceed with reverting to default settings, select Reset.
    To keep your changes and go back to the Account grouping screen, select Cancel.

Step 2: Adjust and verify account mapping

MindBridge automatically maps imported accounts to MindBridge Account Classification (MAC) codes. Before running an analysis, it is important to verify the account mapping and make adjustments if needed. For analysis integrity, each account must be mapped to the correct MAC code.

Tip: You can manage account mapping in MindBridge by following the steps below, or, you can import a chart of accounts or map accounts manually in Excel.
  1. Enter a search term ( Search_icon.svg ) or use the Account tags menu, Status menu, or Usage menu to filter for specific accounts.
    Select Reset filter to remove all applied filters, including search terms.
  2. If re-mapping is required, use the Account type menu in the table to change the mapping of an account, or open the Actions menu and select Import account list to import an updated account list or chart of accounts.
  3. Use the Account tags menu in the table to add and remove account tags.
    • Add tags: Select an account tag from the menu or use your keyboard to enter a new account tag.
    • Remove tags: Select the X icon ( Close icon ) in line with the account tag you want to remove.
  4. To update multiple accounts at once, check the boxes next to the accounts you want to change, then open the Actions menu in the bar that appears and select one of the following options:
    • Edit account type: Allows you to re-map the selected accounts to the MAC code of your choice. 
    • Add account tags: Allows you to select additional account tags to add to the selected accounts.
    • Remove account tags: Allows you to remove account tags from the selected accounts.
  5. The accounts you updated will be tagged with Manual in the Status column, indicating that they were mapped manually, rather than automatically using a chart of accounts or account list.
  6. When you are satisfied with the account mappings and tags, select Next to go to the review step.

GIF_showing_the_Account_Mapping_step_of_the_Verify_Accounts_workflow.gif

At any point you can select Back to go back to the Account grouping step, or Cancel to go back to the Data page. 

Remove unused mappings

All accounts must be mapped before you can run an analysis. If you have unused mappings, removing them will allow you to proceed.

  1. Open the Actions menu near the top of the page.
  2. Select Remove unused mappings.
    A pop-up window will appear.
  3. If you are certain you want to remove unused account mappings select Remove.
    All unused mappings will be removed from the engagement.

Note: Account groupings can be renamed at the engagement level. These label changes will be reflected in all analyses within the engagement for presentation purposes. MindBridge will not re-interpret accounts based on label changes, and will not alter the nature of the accounts (i.e., account types, grouping levels, or associated MAC codes) at the library level.If you want to make material changes to account mappings or inherited account groupings, seek guidance from your CSM or App Admin.

Export options

The Account mapping step offers 2 export options.

  1. Open the Actions menu near the top of the page.
  2. Select Export.
    A pop-up window appears.
  3. Select one of the following:
    • Account list: A list of all accounts and associated mappings.
    • Completeness check*: A report that compares the opening balances and general ledger activity against the provided closing balances.
  4. Select Export.
    The document will be exported to your designated download location as an .XLSX file.
*Note: You must import a general ledger, an opening balance file, and a closing balance file to access the completeness check.

Organize the account mapping table

  • Sort columns in ascending or descending order by selecting the column header. The darker triangle indicates the sort order.
  • Reorder columns by clicking and dragging the desired column header left or right into its new location.
  • Add and remove columns with the Columns menu on the right side of the table. Check the box next to each column you want to display.
  • Pin a column to ensure it will stay in view when scrolling horizontally. Open the menu ( Sidebar_open-close_icon.svg ) in the column header you want to pin and select Pin Column, then choose the pin location on the table: Left, Right or No Pin (default).

Step 3: Review

This step allows you to look over the account grouping changes and account mapping performed in the previous steps, as well the balances* based on the imported files. If MindBridge detects any account verification issues, a warning message will appear and impacted accounts will be highlighted at the top of the table.

*Note: Files that have not finished being imported cannot be used towards balance calculation, so MindBridge will instead display old balances (if they exist) or no balances. To see the most up-to-date figures, finish importing all the files you want to use in the analysis.
  1. Use the Account type menu, Account tags menu, or Status menu to narrow the scope of results, then enter a search term ( Search icon ) to filter even further.
    Select Reset filter to remove all applied filters, including search terms.
    • Note: Because this step re-calculates balances, using the filters before applying search terms will improve loading times.
  2. If re-mapping is required, use the Account type menu in the table to change the mapping of an account, or open the Actions menu and select Import account list to import an updated account list or chart of accounts.
  3. To update the mapping of multiple accounts at once, check the boxes next to the accounts you want to change, then open the Actions menu in the bar that appear, select Edit account type. In the pop-up window that appears, select an appropriate MAC code to map to, then select Done
  4. The accounts you updated will be tagged with Manual in the Status column, indicating that they were mapped manually, rather than automatically using a chart of accounts or account list.
  5. When you are satisfied, select Done.
    If any accounts are unverified, a pop-up window appears.
    If you are satisfied with the accuracy of the account groupings and account mappings, select Verify accounts.
Note: Ensure that each account is mapped correctly. Account mappings can be updated, but any analyses that use the existing account mappings will have to be re-run.

GIF_showing_the_Review_step_of_the_Verify_Accounts_workflow.gif

At any point you can select Back to go back to the Account mapping step, or Cancel to go back to the Data page. 

Export options

The Review step offers 2 export options.

  1. Open the Actions menu near the top of the page.
  2. Select Export.
    A pop-up window appears.
  3. Select one of the following:
    • Account list: A list of all accounts and associated mappings, exported as a .xlsx file.
    • Completeness check*: A report comparing the opening balances and general ledger activity against the provided closing balances, exported as a .xlsx file.
  4. Select Export.
    The document will be exported to your designated download location as an .XLSX file.
*Note: You must import a general ledger, an opening balance file, and a closing balance file to access the completeness check.

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