modified cash template - downloads.cqs.co.za
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Modified Cash Template Product Overview 2018.01
Product overview
Index Modified Cash Standard Template .............................................................................................. 3
Product overview ........................................................................................................................................................... 3
Compliance background ................................................................................................................................................ 3
Key Benefits ............................................................................................................................... 3
Key Features .............................................................................................................................. 3
Learn more ................................................................................................................................ 4
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Modified Cash Template
Modified Cash Standard Template
Product overview The CaseWare Modified Cash (MCS) Template, is a new product provided by CaseWare Africa in our endeavour to automate Financial Statements. This template focuses on the automation of Financial Statements which all National and Provincial departments are required to prepare on a quarterly and annual basis. The product streamlines the process from obtaining the trial balance, importing and ultimately producing the Financial statements.
Compliance background The Public Finance Management Act (PFMA), No 1 of 1999, requires departments to “prepare financial statements for each financial year in accordance with generally recognised accounting practice”.
The Office of the Accountant General (OAG) in the National Treasury has developed and issued the Modified Cash Standard which is generally recognised accounting practice for departments and sets out the principles for the recognition, recording, measurement, presentation and disclosure of information required in terms of the prescribed formats.
In order to facilitate compliance with the standard the OAG also issued MS Excel and MS Words templates of financial statements which all departments are required to complete.
Data required to complete this template should be obtained from the central accounting system named Basic Accounting System (BAS) and the management information system named Vulindlela. Additional data for disclosure purposes should also be obtained from sub systems within the department.
Key Benefits Easy 3 step process (Convert, Import, Map) to complete your financial statements.
Both MS Excel and MS Word template are automated at the same time as both templates are linked to a single datasource.
If trial balances have changed BAS, just re-import and both MS Word and MS Excel reports will be updated.
Leadsheet drill down from Statement of financial Position and Statement of financial Performance to assist with the auditprocess.
Using CaseWare Working Papers Document Manager as a central repository for all supporting evidence.
Implementing facilities and process to automate the additional disclosure notes that needs to be automated from sub-systems.
Template will be annually updated with any compliance changes.
Key Features Convert the Expenditure Control, Revenue Control and Trial Balance reports downloaded from Vulindlela effortlessly with
the MCS conversion tools which eliminate the need to “clean-up” reports.
Predefined settings for import ensure a smooth and easy import process.
Only map once. After initial mapping, no further mapping will be required.
As both the MS Word and MS Excel templates are linked up via CaseWare Connector to the CaseWare database, after importing and mapping the:
o Appropriation Statement will be automated in both the MS Word and MS Excel templates.
o Statement of Financial Performance and notes will be automated in both the MS Word and MS Excel templates.
o Statement of Financial Position and notes will be automated in both the MS Word and MS Excel templates.
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Modified Cash Template
If additional disclosure information is available, it can be imported into CaseWare which will automate the additionaldisclosure notes
Learn more Download the following reports from Vulindlela:
o Revenue control report
o Expenditure control report
o Trial balance report
Use the CaseWare Conversion Utility to convert Revenue Control and Expenditure control report into a single reportsummarised at lowest level Objective and lowest level Item
Also convert the trial balance report to extract only the Assets and Liabilities
Import into CaseWare using predefined settings:
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Modified Cash Template
Use CaseWare easy to use Mapping screen to map your accounts imported to the MCS Reporting mapping numbers
Set-up your reporting structure using lowest level Objective, and drag and drop it to the relevant subprogram. This willonly be done once.
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Modified Cash Template
If you open the MS Excel template automated by CaseWare, the Appropriation Statement, Statement of FinancialPerformance and Statement for Financial Positions will be completed. Follow the new Modified Cash Ribbon which group all the functions in one place you will need to use:
Extract of Appropriation Statement
Extract of Statement of Financial Performance
Extract of Statement of Financial Position
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Modified Cash Template
If you open the MS Word template automated by CaseWare, the Appropriation Statement, Statement of Financial Performance and Statement for Financial Positions will be completed. Follow the new Modified Cash Ribbon which group all the functions in one place you will need to use:
Extract of Appropriation Statement
Extract of Statement of Financial Performance
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Modified Cash Template
Extract of Statement of Financial Position
Non-trial balance information can be imported to the non-trial balance databases
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Modified Cash Template
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CaseWare Africa – South Africa
CaseWare Africa – South Africa
CaseWare Africa – South Africa
CaseWare Africa – South Africa
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