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Frequently Asked Questions(FAQ)
What is the source for the statement information?
Your MUNIS® data base is your primary source for your statement data since it contains over 99% of the information. Your second source of information is data kept outside MUNIS. This data comes from various areas. The software contains features to allow you to enter and track this outside data so that you create complete, final statements.
How do I make adjustments to the MUNIS data?
The suggested method of adjusting your MUNIS data is to make manual journal entries into MUNIS. This provides you with a complete audit trail. For data kept outside MUNIS, you may also make these entries into MUNIS and allow our software to direct the reporting of this data to the appropriate line item (with a full audit trail). Remember that you can recreate the statements as many times as necessary after you have made entries into MUNIS. Lastly, the adjustments may be manually entered on the generated spreadsheets but you will lose the audit trail.
What type of audit trail exists in the software?
As each statement is produced in Excel, a complete audit trail is kept on separate tabs within the spreadsheet. The audit trail information displays every object and/or function that is used to accumulate the line item. In addition, all entries for non-MUNIS data is displayed separately. In this way you and your auditor can easily trace how each line is calculated. The audit trail can be printed out of the spreadsheet as needed.
When will the software be available?
Software available!!!
How will I save $$$ with this software?
Without this software, your auditor will manually construct eleven spreadsheets, including formulas to tie the spreadsheet together properly. Once constructed they will manually accumulate all of the line items for each column on each of the eleven statements. Finally they will manually enter all of the information into the spreadsheets. With this software, all of the above steps are automated and completed in approximately fifteen minutes for most districts…all while you do something else! For some districts the software will be fully funded by holding the line on their audit fees.
How will I handle my chart of accounts uniquenesses?
Every district in Kentucky has uniquesnesses in their chart of accounts. Knowing this, the design of the software allows you to designate how each unique account is to be treated on the GASB statements. All you do is point either objects or functions to the correct statement line item as determined by your auditor.
What training and learning curve is required?
Finance Officer positions are already overburdened with information overload. Your use of this software will not add to your burden. In fact, no training is required because the software is that simple to operate. Telephone support is provided for any questions you may have.
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