What Are Modified Cash Financial Statements?

Current Trials In Completing Financial Statements

Whether you are a national or provincial department, we have all your financial reporting needs covered. Ensuring that you can accurately, and effortlessly, complete your annual and quarterly Financial Statements.

The pain of getting to a set of Financial Statements can be a big one. You will start by downloading various reports from BAS and Vulindlela, after which, you will import some of them and use the rest as a working paper to complete your Financial Statements. After this, your Excel Financial Statement will be somewhat done but you still need to manually complete the majority of the reports, not even mentioning your Word version that is completely manual, which is the report you use.

To only report what is relevant, sections need to be deleted and some added (based on changes in the MCS standard) This is a standard challenge in working with this report. If at any stage during this process, something changes on your trial balance from BAS and Vulindlela, the painstaking task of finding, tracking, and replacing information happens before you can finally deliver a set of Financial Statements.

This process is riddled with cumbersome, high-risk steps all along the way. Accidentally making an error can cost you hours of work. You constantly have to read and keep up to date with the latest compliance regulations. You are never confident that you have one version of the truth. Manually keep the MS Excel version online. Ultimately struggle to produce a high-quality, professional report.

The Solution In Modified Cash Financial Statements

Caseware Africa is the answer to all your Modified Cash Financial Statements reporting needs. Caseware now offers a three-step process to generate your full Financial Statements:

  1. Create reporting file
  2. Import and map (this happens in one easy process)
  3. Link secondary information sources to your Financial Statements.
After these three steps, your Financial Statements (annual or quarterly) are done. The National Treasury Excel Financial Statement will also be completed automatically, this includes annexures. Not only that, but you also have all your Lead Schedules automatically generated.
Caseware ensures a fast and accurate automated process providing compliance every step of the way. All this automation enables you to speed up the delivery of results, eliminate human error, improve the quality of the reports and provide additional benefits like consistency, credibility, and accuracy.
Ensure you have one version of the truth. Caseware Africa, the financial software solution trusted by financial professionals around the world.

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