How to extract Round Sum Amount Transactions from a Ledger

 

IDEA lends itself to effective Ledger Analytics. Some of the tests which can be run through IDEA are ~

 

- High Value or Low Value Entries (Outliers)

 

- Entries with blank narrations

 

- Postings on Holidays or Weekends

 

- Entries which are Prior or Post Review Period

 

- Duplicate Entries

 

- Missing Entries and more

 

One of the important tests in Ledger Analytics is Round Sum amount entries. The incidence of a high number of Round Sum entries for the same amount or different amount to the same Ledger Account reflects a potential red flag.

 

Round Sum amounts can be detected / extracted in IDEA through Direct Extraction using the criteria below in the Equation Editor ~

 

 

In the criteria above Transaction Amount is the field in your underlying IDEA database. The % notation is derived by clicking on MOD to the right of the NOT button in the Equation Editor toolbar. MOD is used specifically to capture Round Sum amounts. = 0 would indicate round sum amount entries as after dividing the Transaction Amount by 10000 (as per the Criteria above) there is no remainder. So as an example 50000 is a round sum but 50009 is not a round sum as it leaves behind a remainder of .9 after the division.

 

While using the criteria above i.e.  Transaction Amount % 10000 = 0 also add in .AND. Transaction Amount > 0 to your criteria to exclude false positives arising from the incidence of Zeros in the Transaction Amount.

 

So the final criteria will look as - Transaction Amount % 10000 = 0 .AND. Transaction Amount > 0

This test can be used to establish Round Sums for any logical numerical representation.

 

Best Regards

 

Group Admin Team