Anybody know of a efficient way to remove accruals from a GL dump? Currently our process is to just apply filters, copy filtered data, and repeat until all our accruals are filtered out. Thanks!

Posting as :
works at
You are currently posting as works at

Add a column, apply an absolute value to your entry amount, and filter largest to smallest. I have a macro that’ll turn all of the same values blue if you want to dm me I’ll send it to you. It’ll work if the accruals are the exact amount.

like

You know there's a conditional format duplicate values function on the home group? No need for macro but I guess marco may run smoother.

like

Depending on the ERP look at the flags for each entry. Oracle has Type and Source fields, Netsuite has something similar.

Take dump, pivot by transaction type. You'll see that the majority of the actual ending balance comes from invoices, with other types likely large swings in each direction but ultimately not much impact.

Accruals would be manual journals so find that flag and exclude.

Closing accruals you audit separately probably through its own sample, and the automatic reversals of PY accruals appearing in P1 were tested in PY through the same procedure. Alternatively get the PY population to match them off and show no impact). Either way good argument to not need to double test, so pass on testing those.

like

What is the company's ERP system?

like

Give it to the journal entry/advisory service center, confirm with the client how accruals are marked (certain reference numbers or certain user ID), have the service center remove and reconcile.

Thanks for the input, they use Oracle netsuite. The client's systems are a joke, and I don't think transactions can be filtered that way you guys are talking about. My team(I'm a first year) has just been downloading the GL dump and manually filtering in excel.

Filter in Excel but to find the accruals you can do several things:
1. Look at the 12/31 prior year accrual and ask the client for the detail behind it. It will usually be one or more entries based on type. Like legal, accounting, etc.
A. That same accrual entry should be reversed on 1/1 of the current year. Remove the 1/1 entry from your testing population.
B. With the detail from the 12/31 entry remove all the invoices from the testing population.
C. Go through the population and look at all the entries at the beginning and end of the month starting with the end of January and the beginning of December. These are the accruals you shouldn't consider in your testing population.
D. Ask the client for the detail of the 12/31 accrual entry. Depending on how your company tests accruals and expenses you may need to consider all of these in your testing population. As these are debits to expense accounts.

2. Now that you did that you can look for all of the reversing entries that don't have an impact. I'd use absolute values like mentioned above. If this is too big you may just ask someone about your firms methodology in testing debits and credits separately. I think that's more work but ehh.

Related Posts

Can anyone recommend a resume writer that is not charging hundreds of dollars per hour? Many of the writers I've been finding and interviewing are for more senior level/executive management decision makers. I can't afford to pay $600 to $800 or more for 3 to 4 hours of work to help me craft my resume appropriately. I know it's worth it but those costs are out of my budget.

like

Can anyone share the mapping of Deloitte levels to Proserve levels? I am a Senior Manager at Deloitte and recruiter just called me for a senior advisory consultant role but that feels like 2 levels back at least from a Deloitte perspective.

like
like

Anyone has salary info for AVP and/or VP positions in big 5 banks?

like

Any referrals for Front end angular devlopment 8years exp?

like

After technical round how much days Infosys HR take to give update??

like

Does anyone here have any experience remotely freelancing for EU agencies out of the U.K.? Currently based in London and trying to do that but not entirely sure how to go about it

like

Been talking/dating someone for 5 months and we haven’t had sex yet. This is a longest I’ve waited and honestly think I’m happier for it.

likeupliftingsmart

Snow Days during busy season!! Yikes! How do you all juggle kids at home demanding attention and all of the demands of an unrelenting busy season day (that does not stop for snow!)

like

Asking for a friend. Are there any openings for Team Lead - Server support or customer support.

like

Has anyone recently applied for a Canadian tourist visa from India? Any thoughts on timeline?

like

Recently my organization has rolled out Microsoft's MDM policy which restricts access in mobile devices. But this mdm has a lot of access of our devices like it has permission to factory reset the phone!
Have you guys accepted this on your personal phones? Like is it safe?

like
like

Hi fishes. Does Optum HR use illegitimate methods to know a potential candidate's decision to join? For example calling the candidate disguised as TCS/Wipro HR asking details about current offers and active notice period.

like

Art Director looking to transition into Pharma. Does anybody have any good leads or know of any agency hiring in NYC? I need a job ASAP!

like

Is there a head cold going around? I’m so annoyed that I’m sick again! I swear all this quarantining set us up to get sick easier. This is twice in only a month with a different thing. 😧

likefunny

Have anyone renegotiated with thoughtworks and got better package before joining?

like
like

If you are in pharma, what do you do for the MLR process?

Additional Posts in Audit Bowl

like

Thoughts from people who work/worked at Baker Tilly (audit)?

like

Is it me or do the staff these days leave workpapers zoomed out more and more each year? What is this, a workpaper for ants?

likefunny

Just finished exams. Haven’t liked job for at least a year. Can’t tell if the exam played a key role. Anyone experience better worklife post exam? Not sure I can do another busy season.

like

Anyone knows how much a pre-manager level senior makes in Big 4 in California?

like

Anyone else tired of the multiple status updates emails and messages already?! Day 1 from working from home and I’m already over it.

like

What is the best way to start your ACCA journey as an associate ? ( knowing i have the first 3 exams as exemptions)

like

Do the most successful CPAs stay in public or leave? I get the feeling high performers leave early from PA ( usually as senior). How true is this? Is it because of their confidence? Or something else? Your thoughts?

like

For those that left PA before senior title, would you mind sharing companies that you interviewed with or resume? I’m having a hard time getting any response :(

like

I started as an associate in 2021 in a mid size. My schedule was full until the end of May. Starting in June, I’m not scheduled on any clients at all. Meanwhile the other associate who started with me have full schedule until end of year. I contacted HR and said it’s ok for first year. Is this normal? Why this happening?

like
likefunny

Which offices are open? Which company and location?

like

Anyone else's morale/motivation at an all time low?

likefunny

I’d be sooo down for Bzy Szn 2020 WFH Edition. Anyone else? Do you think we’ll be remote through the end of the year?

likeupliftingfunny

nyc ladies - what shoes/boots do you recommend for commuting in the fall/winter? on the hunt for a comfy, durable pair.

like

im a presenter for a training to the whole dept globally and we have the training today and i literally want to throw up im so nervous

like

Holiday tradition unlike any other: when family automatically thinks your upcoming busy season is because of tax season 😂

likefunny

PwC has made their internships into a 2 week virtual experience with no client work. Have any other Big4 announced changes coming to internships?

like

What a Business, Risk and Control Management - Senior Manager position looks like in Pwc, New York market? What could be the salary range?

like

FSI vs Commercial, does anyone have any insight which route leads to better career opportunities?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal