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Verify accounts: Engagement-level management of account grouping and account mappings (MAC v.2)

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Summary

Once you have imported a general ledger into MindBridge, you must verify the accounts. This process allows you to view and update the financial hierarchy, change mappings, and review account balances before running an analysis, so you can save time by assessing the accuracy of the account grouping and account mappings.

Account grouping is typically performed by App Admins before setting up a library, but you and your team can manage the account groupings used in engagements you belong to, allowing you to easily align MindBridge with your unique financial statements without needing to wait for assistance. Editing is available through the Verify accounts workflow (below) as well as through the Engagement settings.

During the Verify accounts process, you will be brought through the 3 steps below.

  1. Account grouping
  2. Account mapping
  3. Review
Tip: For an overview of the screens you’ll see during this process, refer to Verify accounts: Dashboards overview.

Each of these steps allows you manage your account grouping in different ways (such as adding account groups, removing unused mappings, and running a completeness check on the account balances) before running an analysis. 

Because the account grouping is shared between all analyses within an engagement, unless you need to append to the account grouping, you may only need to complete this process once per engagement.

Learn how to update and verify the accounts used within your engagement below.

Note: The account grouping in your engagement is a copy of the Admin-level account grouping. Changes made to the account grouping from within the engagement will not affect the original. Similarly, changes made to the original from within the Admin settings will only be reflected in new engagements, and not in existing engagements.
Tip: When rolling analyses forward, you can import account grouping settings into new engagements.

Access the Verify accounts workflow

On the Data page of your engagement, select Verify accounts in line with the desired analysis. You will go to the Account grouping step.

Tip: If you have already verified the accounts, you can access this workflow and make updates to the account grouping and mappings by opening the more actions menu ( More actions menu icon ) in line with the desired analysis name and selecting View accounts.

Step 1: Adjust and verify the account grouping

On the Account grouping step, you can manage the account grouping in the following ways:

Tip: Once you have reviewed the account groups, if no changes are needed, you can proceed to the next step.

View the account grouping in a hierarchy or a flat list

Use the View menu (located above the table, on the right) to select how you want to see the financial hierarchy laid out.

  • Hierarchy (default): View the account grouping structure laid out in a tree-like structure, reflecting the relationship of each account category level from the most general to the most specific.
  • List: View the accounts in a flat structure.

In the Hierarchy view, use the chevron icons to the left of each account category to expand ( Expand chevron ) and collapse ( Collapse chevron ) each level individually, or open the Actions menu and select Expand all or Collapse all to expand and collapse all of the categories at once.

Rename an account category level

You can change the label assigned to any category level in the account grouping as desired, however new labels should represent the same fundamental nature of the account, as described by the mapped MAC code. For example, you could change the label for Accounts Receivable to A/R from US Customers because the nature of the accounts is the same.

Tip: If you want to change the nature of the category (for example, changing Accounts Receivable to Plant Property & Equipment), we recommend hiding the account you want to replace, then adding a new account and selecting a MAC code relevant to the nature of the new account.
  1. Open the more actions menu ( More actions menu icon ) in line with the account group or category you want to rename.
  2. Select Rename. A pop-up window will appear.
    • In the hierarchy view, you can enter a new unique name for the specific account category that you selected.
    • In the list view, you can enter a new unique name for each of the categories in the account group you selected.
  3. When you are satisfied, select Save to apply your changes.

Select Cancel anytime to discard your changes and go back to the Account grouping step.

Note: In the hierarchy view, you can also rename account categories by selecting the category field then entering a new name. MindBridge will apply your changes dynamically.

Add a new subgroup to an existing account group

In the hierarchy view (only), you can add new L2, L3, and L4 account categories (i.e., "subgroups") to your existing financial hierarchy.

  1. Open the Actions menu (located above the table on the right).
  2. Select Add subgroup. A pop-up window appears.
  3. Use the first menu to select the existing account group that you want to add a new subgroup to.
  4. The form will update based on your selection, and you will be prompted to enter a name for the new lower-level category. For example, if you selected a Level 1 category, then you must enter a name for a new Level 2 category.
  5. Optionally, select + Add subgroup to add additional lower-level categories, up to 4 levels total. You will be prompted to enter a name for each additional subgroup.
  6. When you are satisfied with the account group's hierarchy, use the MAC code menu to select the most appropriate MAC code for the lowest-level account in the group.
  7. Enter a unique Grouping code for the new account group. This is the unique code used by your organization to organize accounts within the financial hierarchy.
  8. When you are satisfied with the new account group, select Add to apply it to your account grouping. The new account group will be added, and you will go back to the Account grouping step.

Select Cancel anytime to discard your changes and go back to the Account grouping step.

Tip: Alternatively, you can open the more actions menu ( More actions menu icon ) to the right of any L1, L2 or L3 account category and select Add subgroup. With this method, the higher-level account categories are pre-selected, and you can add new categories down to Level 4.

Append multiple account groups to an account grouping

If you have several account groups to append to the account grouping, you can do so with the append feature. This feature allows you to import your current account grouping along with new account groups and MAC mappings added to the bottom of the file.

Tip: If you have made changes to the account grouping within the engagement, you can export the current account grouping using the Actions menu, then follow the instructions within the file to add new account groups and MAC mappings to the bottom of the file.
  1. Open the Actions menu (located above the account grouping table).
  2. Select Append. An import window appears.
    Optionally, you can export the current account grouping from within this window.
  3. When you are satisfied that all of your new account groups and MAC mappings have been added to the template and are correct, you can drag and drop the saved file into the window, or browse for it on your computer.
    Note: Do not make changes to existing account groups, including renaming, re-ordering, or removing them from the file.
  4. Once the account grouping has been imported, select Save to save your changes.

If you accidentally imported the wrong file, or a file with an error, you can select Back to go back to the import step. After resolving the issue(s), you can then re-import the file.

Select Cancel anytime to discard your work and go back to the Account grouping step.

Remove an account category

In the hierarchy view (only), you can remove unused, engagement-level account categories to permanently delete them from the engagement. If you don’t want to remove items permanently, you may also be able to hide them from view to reduce clutter.

  1. Open the more actions menu ( More actions menu icon ) to the right of the account category.
  2. Select Remove account group. A window will appear to confirm your decision.
  3. If you are certain that you want to remove the account category, select Remove. If a higher-level category is removed, all lower-level categories will also be removed.

Select Cancel anytime to go back to the Account grouping step without removing anything.

Note: Account categories cannot be removed if the Origin is Default, or the Status is Used.

Hide an account category

You can hide unused account categories from view to declutter your screen. Hidden account groups or categories will not need to be mapped, and will not appear in the analysis results, however, they still exist in the engagement’s account grouping.

  1. Open the more actions menu ( More actions menu icon ) to the right of the account category.
  2. Select Hide account group. Your selection will be disabled and hidden from view. If a higher-level category is hidden, all lower-level categories will also be hidden and disabled.
Note: Account categories cannot be hidden if their the Status is Used.

Unhide an account category

You can opt to see previously hidden account categories in order to allow them to be mapped and have them appear in analysis results.

  1. Open the more actions menu ( More actions menu icon ) to the right of the account category.
  2. Select Unhide account group. The account group as well as any lower-level categories that were previously hidden can now be viewed and mapped.

Re-order account categories

In the hierarchy view, you can move account categories around within the same level of the group, as desired.

Use the grab handle ( Move icon ) to select and drag categories up or down. MindBridge will apply your changes dynamically.

Note: Categories cannot be moved from one account group to another.

Export the account grouping

You can export a copy of the account grouping from this step.

  1. Open the Actions menu (located above the account grouping table).
  2. Select Export. A window will appear.
  3. Select the account grouping you want to export:
    • Current account grouping: The account grouping with any changes you’ve made within the engagement, such as renaming account categories.
    • Default account grouping: The original account grouping that was selected for use in the given engagement.
  4. When you are satisfied with your selection, select Export to download the file. The file will appear in your default download location.

Proceed to the next step

When you are satisfied with your account grouping, select Next (located at the bottom-right side of the screen) to go to the next step, Account mapping, or select Skip to review to bypass account mapping.


Step 2: Adjust and verify account mapping

Before running an analysis, it is important to verify the account mappings and make adjustments if needed; for analysis integrity, each account must be mapped to the most appropriate 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 to have MindBridge map the accounts automatically.

On this step, you can perform the following actions:

Tip: Once you have reviewed the account mappings, if no changes need to be made, you can proceed to the next step.

Remove unused accounts

“Unused” accounts are accounts that are not present in the imported GL or opening/closing balance files, as well as accounts with a balance of zero and no GL activity. Unused accounts can occur if an incorrect GL is imported, if an incorrect column is mapped as the account ID, or if there are accounts present in the COA that aren't also present in the GL or opening/closing balance files.

You can view unused accounts with the Usage filter.

  1. Open the Actions menu (located above the account mapping table).
  2. Select Remove unused accounts. A confirmation window will appear.
  3. If you are certain that you want to remove the unused accounts from the account grouping, select Remove. The relevant accounts will be removed and you will go back to the Account mapping step.

Select Cancel anytime to go back to the Account mapping step without removing unused accounts.

Note: Removing accounts will also remove their associated mappings. These accounts will not appear within MindBridge, but will remain in the source data. Previously run analyses will not be affected.

Import an account list

Importing an account list, such as a Chart of Accounts file, allows MindBridge to map accounts automatically.

  1. Open the Actions menu (located above the account mapping table).
  2. Select Import account list.
  3. Select the file you want to import. Once the file has loaded, you will be brought to the Data Validation step of the import process.
  4. Review the file details, integrity checks, and column preview on this step. When you are satisfied that everything is correct, select Next (located at the bottom-right side of the screen) to go to the next step, Map columns.
  5. Review the mapped columns, and if desired, drag and drop your data column headers (on the left side of the page) into empty slots below Mapped Columns (on the right side of the page).
  6. When you are satisfied that everything is correct, select Next (located at the bottom-right side of the screen) to finish the import process. You will return to the Data page.
  7. Select Verify accounts to return to the workflow.
  8. Select Next (located at the bottom-right side of the screen) to go to the Account mapping step.

Export an account list

Export the account list with any changes you’ve made in the engagement.

  1. Open the Actions menu (located above the account mapping table).
  2. Select Export account list. An Excel file with all accounts and associated mappings will be exported to your designated download location.

Select Cancel anytime to go back to the Account mapping step without exporting.

Update the account mapping

If you want to re-map an account, use the Account group field menus within the table to select a new MAC mapping for each account, as desired.

Note: You must select one of the lowest-level account categories in the hierarchy. If you select a higher-level category, MindBridge will automatically select the first lower-level category available. If there are multiple lower-level categories, verify that the mapping is correct, and select a different category if required.

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. Learn more about mapping statuses

Update mappings for multiple accounts

Alternatively, you can update the mapping of multiple accounts at once.

  1. Use the checkboxes to the left of each account to select those you want to update. Once a checkbox has been selected, a bulk actions bar appears.
  2. Open the Actions menu within the bulk actions bar.
  3. Select Edit account group. A window will appear.
  4. Use the chevron icon ( Expand chevron ) to open the field menu, then select one of the lowest-level account categories in the hierarchy. If you know the name of the account, you can search for it in this window.
  5. When you are satisfied that the mapping is correct, select Done to save your changes.

Select Cancel anytime to discard your changes and go back to the Account mapping step.

Update account tags

If you want to update the account tags for an account, use the Account tags field menus within the table to add new account tags.

You can also enter your own account tags by selecting the field and typing in the new account tag, then pressing enter/return on your keyboard to save it.

Add account tags to multiple accounts

Alternatively, you can add account tags to multiple accounts at once.

  1. Use the checkboxes to the left of each account to select those you want to update. Once a checkbox has been selected, a bulk actions bar appears.
  2. Open the Actions menu within the bulk actions bar.
  3. Select Add account tags. A window will appear.
  4. Use the menu to select from existing account tags, or enter your own into the field.
  5. When you are satisfied with the account tags, select Done to save your changes.

Select Cancel anytime to discard your changes and go back to the Account mapping step.

Remove account tags from multiple accounts

You can also remove account tags from multiple accounts at once, if desired.

  1. Use the checkboxes to the left of each account to select those you want to update. Once a checkbox has been selected, a bulk actions bar appears.
  2. Open the Actions menu within the bulk actions bar.
  3. Select Remove account tags. A window will appear.
  4. Use the X icon to the left of each account tag you want to remove, or use the X icon on the right side of the field to remove all account tags.
  5. When you are satisfied with the account tags, select Done to save your changes.

Select Cancel anytime to discard your changes and go back to the Account mapping step.

Proceed to next step

When you are satisfied with your account mappings, select Next (located at the bottom-right side of the screen) to go to the next step, Review.


Step 3: Review account grouping and mappings

The Review step lets you look over any account grouping changes and account mapping performed in the previous steps, as well as review the balances* based on the imported files to help you validate the accuracy of account mappings for different analyses within the engagement.

Tip: For the most accurate representation of the financial data, import a general ledger file, an opening balance file, and a closing balance file into the analysis on the Data page. This also allows you to access the Completeness check report for the selected analysis.
Note: Files that have not finished being imported cannot be used in balance calculations. MindBridge will display previous balances, if available, or none at all. To view the latest figures, complete the import process of all files intended for analysis.

View balances for different analyses

You can review the account grouping in the context of any analysis within the engagement. If at least a general ledger file has been imported, the top of this page will display the account balances for each Level 1 account category in the given dataset.

Use the View menu (located on the left side of the page, above the account balances) to select a different analysis. The account balances below will update automatically based on your selection.

Remove unused mappings (if any exist)

“Unused” accounts are accounts that are not present in the imported GL or opening/closing balance files, as well as accounts with a balance of zero and no GL activity. Unused accounts can occur if an incorrect GL is imported, if an incorrect column is mapped as the account ID, or if there are accounts present in the COA that aren't also present in the GL or opening/closing balance files.

  1. Open the Actions menu (located above the table, to the right of the search bar and filters).
  2. Select Remove unused accounts. A confirmation window will appear.
  3. If you are certain that you want to remove the unused accounts from the account grouping, select Remove. The relevant accounts will be removed and you will go back to the Review step.

Select Cancel anytime to go back to the Review step without removing unused accounts.

Note: Removing accounts will also remove their associated mappings. These accounts will not appear within MindBridge, but will remain in the source data. Previously run analyses will not be affected.

Resolve errors (if any exist)

If MindBridge detects any account verification issues, such as unmapped accounts, balance issues, etc., a warning message will appear at the top of the page.

  1. Within the warning message, select Show impacted accounts to filter for the relevant accounts.
  2. Scroll through the table to determine the source of each error and resolve it.
  3. Once all of the errors have been resolved, you can proceed.

For example, if you have unused accounts (i.e., accounts that do not exist within the GL or that have a balance of zero and no GL activity), you can open the Actions menu (located above the table) and select Remove unused accounts. Select Remove in the window that appears to confirm your decision.

Update an account mapping

If you want to re-map an account, use the Account group field menus within the table to select a new mapping* for each account, as desired.

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. Learn more about mapping statuses

*Note: You must select one of the lowest-level account categories in the hierarchy. If you select a higher-level category, MindBridge will automatically select the first lower-level category available. If there are multiple lower-level categories, verify that the mapping is correct, and select a different category if required.

Update mapping for multiple accounts

Alternatively, you can update the mapping of multiple accounts at once.

  1. Use the checkboxes to the left of each account to select those you want to update. Once a checkbox has been selected, a bulk actions bar appears.
  2. Open the Actions menu within the bulk actions bar.
  3. Select Edit account group. A window will appear.
  4. Use the chevron icon ( Collapse chevron ) to open the field menu, then select one of the lowest-level categories in the hierarchy. If you know the name of the account, you can search for it here.
  5. When you are satisfied that the mapping is correct, select Done to save your changes. 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 file.

Select Cancel anytime to discard your changes and go back to the Review step.

Export a completeness check report

Export a completeness check report to validate that the accounts are balanced. This step can help you determine whether or not accounts have been mapped correctly.

  1. Use the View menu (located on the left side of the page, above the account balances) to select the analysis you want to run the report on.
  2. Select Export completeness check (located above the account balances on the right side). The .xlsx file will appear in your default download location.

Select Cancel anytime to go back to the Review step without exporting.

Note: Only analyses that include a general ledger, opening balance, and closing balance files can be checked for completeness.

Import an account list

Importing an account list, such as a Chart of Accounts file, allows MindBridge to map accounts automatically.

  1. Open the Actions menu (located above the account balances on the right side).
  2. Select Import account list.
  3. Select the file you want to import. Once the file has loaded, you will be brought to the Data Validation step of the import process.
  4. Review the file details, integrity checks, and column preview on this step. When you are satisfied that everything is correct, select Next (located at the bottom-right side of the screen) to go to the next step, Map columns.
  5. Review the mapped columns, and if desired, drag and drop your data column headers (on the left side of the page) into empty slots below Mapped Columns (on the right side of the page).
  6. When you are satisfied that everything is correct, select Next (located at the bottom-right side of the screen) to finish the import process. You will return to the Data page.
  7. Select Verify accounts to return to the verify accounts workflow.
  8. Select Skip to review (located at the bottom-right side of the screen) to go to the last step.

Export an account list

Export the account list with any changes you’ve made.

  1. Open the Actions menu (located above the account mapping table).
  2. Select Export account list. The .xlsx file will appear in your default download location.

Select Cancel anytime to go back to the Review step without exporting.

Rename account categories

If desired, you can rename any of the category levels within an account group.

  1. Open the more actions menu ( More actions menu icon ) to the right of the account group you want to rename.
  2. Select Rename. A window will appear with each of the account category levels in the account group.
  3. Enter a new name for each of the category levels, as desired.
    Note: If the category is shared across multiple account groups (such as the Level 1 category, "Assets") any name change will be applied across all account groups that use that category.

Verify the accounts

  1. When you have completed your review of the account grouping and account mappings, select Done (located at the bottom-right corner of the page). If any accounts are unverified, a confirmation window will appear.
  2. If you are satisfied with the accuracy of the account groupings and account mappings, select Verify accounts. The accounts and mappings within the account grouping will be verified, and you will go back to the Data page, where you can either continue importing files, or run the analysis.


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