We are happy to announce the release of a new member of our CaseWare Add-On Tools family.
In addition to the requirement to present PSAB compliant statements, British Columbia Municipalities and Regional Districts must prepare the LGDE (Local Government Data Entry forms). This is annual requirement for BC local governments (under Community Charter section 167(4)) to be submitted to the Inspector of Municipalities.
Unfortunately for those of us preparing this annual information, very typically we find that the grouping / presentation of information for the LGDE is substantially different from PSAB standards.
FHB’s LGDE Automation Tool provides groupings to facilitate the simplification of the LGDE preparation. It also includes a complete package of leadsheets tied to these groupings which allow you to verify balances, add supporting working papers, reference and then sign off on your work on a line by line basis. Finally our tool replicates the data entry forms to facilitate easy data entry into the Ministry's website.
Unfortunately the Ministry will not allow us to automate the upload of these values but our Automation Tool will help alleviate the agony experienced in painstakingly trying to prove agreement between your audited financial statements and the LGDE. Those ‘last minute’ adjusting journal entries from the auditor will no longer be an issue, just post your adjustments in the Working Paper File and the effects will roll out across your financial statements, notes, schedules and LGDE balances!