How to extract Round Sum Amount Transactions from a Ledger
Brian Element
Hi Group Members,
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 ~
Transaction Amount % 10000 = 0
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
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