Review Cash Flow Statements and Reconciliation

Important: Start with the Cash Flow Statements and then move to the Cash Flow Reconciliation. 

Step 1: Refresh the Cash Flow Data Set

Walkthrough

Select Next to move through the guide. You can also zoom in and out of the image by selecting the Magnifying Glass in the bottom right-hand corner. You can view the full guide by selecting the External Link icon. 

Step-by-Step Instructions

1. Click Admin within the MDFM. 
2. Click Data Sets.
3. There should be a Refresh icon within Actions for the Cash Flow data set. Select this icon to refresh your Cash Flow data after uploading a new Trial Balance.

Note: Right click on "Cash Flow Statement" in the left side bar and select Refresh Data Set for a quick refresh. 

Step 2: Review mapping and unmapped accounts

Walkthrough

Step-By-Step Instructions

1. Click Map on the Cash Flow and Cash Flow Reconciliation model.

2. Be sure that the correct period is selected before we begin.

3. In the mapping menu, select the statement line you want to map to from the left sidebar navigation.

4. Click on Local Rules to begin mapping these accounts. Here, you can either edit an existing rule to include the new statement lines or accounts. In this example, we will demonstrate how to add a new rule to the cash flow statement.

5. Click on the blue plus sign in the top right-hand corner.

6. Click the Plus icon to add the condition.

   • Note: The Fiscal Period will already be added based on what was selected in the Map Section.

7. In the field drop down menu, select a item that has Proprietary Funds Statement Structure in the title.

8. Under Type, select equals.

9. Click on the menu under Value and select the line you want to map.

10. Save the line by clicking on the Save (floppy disc) icon.

11. Click OK.

12. Click on the chain icon to link your newly created rule located in the upper right hand corner. 

Step 3: Make reclassification adjustments as needed

Walkthrough

Select Next to move through the guide. You can also zoom in and out of the image by selecting the Magnifying Glass in the bottom right-hand corner. You can view the full guide by selecting the External Link icon. 

Step-By-Step Instructions

Create the First Adjustment

1. After mapping all unmapped accounts in a Statement data model, click Adjust.
   • Important Note: Adjustments made to fund are made at the GL level and will reflect in all statements tied to the same GASB fund category.
2. Click Select Type and select Adjustment
3. Click the Statement Structure field and select the specific area of the statement to apply the adjustment.
4. Click Reporting Funds and select the specific Fund to apply the adjustment.
5. The period will already be selected based on the period set on the Map section. 
6. Click Select Transaction
7. Select the top row that has "JE" in the majority of the columns to create a new Journal Entry.
   • Note: You may see additional rows. These are previously created journal entires to that fund.
8. Click the icon with an A with box under it that highlights the attributes blue.
   • This shows the details/attributes that need to be added to the adjustment for it to be automatically be mapped to the government wide statements. Add the appropriate attributes to the blue columns. Use local rules as your guide. 
9. Enter in the adjustment for this Fund and click Enter or select the Save (Floppy Disk) icon.
   • Note that at the bottom of the section, you will see the number you just entered in orange. This is because we need to balance the journal entry with an offsetting transaction.

Create the Offsetting Adjustment

1. Change the filters as needed to create the offsetting transaction.
2. Click Select Transaction when ready.
3. Select the Journal Entry row.
4. Enter in the balancing amount to the entry and click Enter or the Save (floppy disk) icon to confirm.
   • Note now the table is balanced and can be posted.
5. Select Post Transactions.

Review the Adjustment

1. After posting, you will want to remove the filtering created from creating the transaction to confirm everything is in balance. Select a field and select the X to remove a filter.
2. Check the adjusted amounts column total to ensure it shows 0.

Step 4: Perform a final check to avoid statement errors

Walkthrough

Step-By-Step Instructions

1. Select the Checks table to begin.

2. Expand all funds and lines as needed to ensure you are reviewing all data.

3. Make sure the Cash Ending Balances are 0. If it is anything but 0, post a rounding adjustment.