Chapter 2 – Balances audit

This module lets you select individual loans, savings and investment accounts for audit examination and circularisation, using dollar value, stratified and manual methods.

0. Introduction

0.1 Description of Audit Tests

0.2 Suggested sequence and frequency of using this module

0.3 Essential Financial Package Information

1. Balances Profile

2. Print Balances Profile

3. Sampling Plan

3.1 Stratified Sampling Method

3.2 Dollar Value Sampling Method

3.3 Manual Stratified Sampling Method

3.4 Manual Dollar Value Sampling Method

3.5 Print Parameters

4. Balances Selection

5. Print Balances Selection

6. Special Selection Parameters

7. Special Selection

8. Print Special Selection

9. Clear Balances Audit Files

0. INTRODUCTION

0.1. Description of Audit Tests

The Balances Audit Module is mainly concerned with checking that the balances as shown on the Loans, Savings and Investment ledgers are accurate and complete. CAPS does this by examining the balance on every account in each of the three ledgers. CAPS then:

  • Checks all the additions by type and level
  • Prepares a summary 'profile' of all the balances
  • Selects samples of accounts for detailed checking and confirmation
  • Highlights accounts with unusual balances such as overdrawn savings.

Let's have a look at this in more detail.

0.1.1. Check of additions

This is quite straightforward - but in normal circumstances it's a check you would never consider doing manually. Important points to note are:

  • CAPS does all the additions independently of the Financial Package.
  • It includes every account on file.
  • It adds each transaction to arrive at an independent balance on each member's statement. To confirm the closing balances, use the Transactions Profile.
  • NOTE: CAPS works backwards from the current balance of each account, deducting transactions, until it reaches the Balance Date as specified in your parameters. If the Balance Date is set to the current date (today's date) then CAPS will simply add the current balance of every account and produce a summary profile. If you wish to run the Balance Profile as at the current date but still wish to check the additions on each members account then you can run the Transaction Profile. See the Transactions Module for more information.

0.1.2. Prepares a summary 'profile'

For each of the three ledgers CAPS analyses and prints the total number and value of balances in each of up to 22 suitable strata. A strata could be all accounts with balances between $5,001 and $7,000 - see Menu option 2 PRINT BALANCES PROFILE for an example of specified strata. It is strongly recommended that you use the Manual method rather than the Automatic method, whereby you specify the strata to be used. This way, it saves having to make two passes of the entire database!

This profile helps you gain an overall picture of the accounts in your Financial Institution, and helps you design appropriate tests to audit it in the most effective way.

You'll find this 'profile' useful. For example, it immediately indicates if there are any overdrawn savings accounts, or even loan accounts in credit. It means that if they occur, you can concentrate on these to find out why they have occurred and decide if the exposed internal control weakness warrants further work.

 0.1.3. Selects samples of accounts for detailed checking and confirmation

One of the time-consuming and statistically inaccurate areas of manual auditing is selecting samples of balances for detailed checking. Usually this is done by selecting perhaps every 10th balance in a supposedly complete list of balances - and perhaps also selecting every account you notice that is over $10,000. Complete details have to be laboriously written out on a 'control sheet'.

CAPS does all this work for you. You have a choice of four statistical methods of selection: Dollar Value Sampling, Stratified Sampling, Manual Stratified and Manual Dollar Value Sampling. You control the details of any bias you might want (towards larger balances for example), and statistical confidence levels you want to get from the results. CAPS then statistically calculates how big your sample should be. Depending on which method you choose, it will automatically select the sample at random according to the ground rules (or 'parameters') you give it.

Note that the statistical calculations CAPS performs to decide how many balances to select to get a required degree of confidence in the result of the audit tests are quite complex. You don't need to know the details in order to do the audit.

As well as selecting a sample of balances for you, CAPS also does the following:

  • CAPS can prepare and print audit third party confirmation statements for the selected accounts. This means you can have complete control over the statements before they are posted. For more details of statements, please refer to the Circularisation Module chapter.
  • CAPS produces a convenient 'control listing' of the accounts to be confirmed so you can keep track of the responses. This saves time (and copying errors!) and resources.
  • CAPS lets you print a message of your choice on the confirmation statements. This means you can do a positive or negative circularisation very easily, simply by wording the message appropriately.
  • For your convenience, CAPS lets you choose the order (alphabetical order, account number order etc.) to print the statements. You are given a choice of four possible orders.
  • This might produce interesting results. For example: A number of loans over the approved maximum limit might have been granted to a member and his immediate family. Each loan may be allocated a different 'loan level' which keeps them separate on any Financial Package printouts. However, using CAPS to print the statement control listing in alphabetical order, the identical names and addresses would be printed as a group.

0.1.4. Highlights accounts with unusual balances

As well as being able to select accounts using a random statistical basis, CAPS also allows you to select accounts using 'manual stratified' sampling. This lets you instruct CAPS to (for example):

  • Select all loan accounts with balances greater than the authorised maximum of $50,000.
  • Select all savings and investment accounts with a negative balance, or all loan accounts in credit.
  • Select all savings and investment accounts greater than $75,000.
  • Select all investment account balances less than the minimum $500 limit.

0.1.5. Selects accounts according to special criteria

  • Selects all closed accounts with transactions after the closing date.
  • Selects the largest accounts for examination.
  • Selects accounts with balances within specified ranges.

0.2. Suggested sequence and frequency of using this module

This module is essentially a balance sheet audit tool. Its main purpose is to help you satisfy yourself that the balances for Loans, Savings and Investments shown in the Financial Institution's balance sheet are true and fair. However, it does also have some very useful internal control audit tests as a by-product, and can be used during interim audits.

Step

Step Description
1 Construct a profile of the Financial Institution's Loans, Savings and Investment accounts overnight using menu option 1 - BALANCES PROFILE.
2 The following day (or at any time later) use menu option 2 - PRINT BALANCES PROFILE to see the results. Check the CAPS total of the balances as at that date with the totals shown on the Financial Institution's 'Balance Report' for the same date.
After looking at the profile, decide what audit tests you should carry out. In particular you should decide what kind of sample of individual accounts to select. You can use menu option 3 - SAMPLING PLAN to help you decide.
When you have decided what sample to choose, use menu option 3 - SAMPLING PLAN to tell CAPS your choice.
Finally use menu option 4 - BALANCES SELECTION to instruct CAPS to select the sample. CAPS will perform this overnight.
3 The following day (or at any time later) use menu option 5 - PRINT SELECTION to print out a listing of all the accounts CAPS has selected.
Carry out your audit tests on the individually selected accounts as appropriate.
4 Use menu option 6 - SPECIAL SELECTION PARAMETERS to input parameters for the special selection. Select the sample using menu option 7 - SPECIAL SELECTION overnight and print it the next day using menu option 8 - PRINT SPECIAL SELECTION.
5 When you are satisfied the balances audit is complete, and you have no further use for any of the CAPS files generated during the audit, you can select menu option 9 - CLEAR BALANCE AUDIT FILES to release the space taken on the Financial Institution's computer system.

0.3. Essential Financial Package Information

0.3.1. Explanation of 'Account Levels'

There are three ledgers - LOANS, SAVINGS AND INVESTMENT. Each ledger can contain different levels of account. The levels are chosen by the Financial Institution. For example:

  • L1 could be all loan accounts secured by a mortgage.
  • L2 could be all unsecured personal loans.
  • L9 could be all loans written off as unrecoverable.

And in the savings ledger:

  • S1 could be all saving accounts for members that have loans.
  • S2 could be all 'Christmas Club' saving accounts.

You will need to find out how your Financial Institution has used this 'account level' facility. Get a list of all account levels and find out what they are used for.

1. BALANCES PROFILE

This makes CAPS look through all Loans, Savings and Investment account balances and construct a statistical 'Profile' of all the balances. It also does a 100% check on the additions of the total balances for each account level.

The Balance Profile screen looks like this:

<1> Balance Date

Enter the date that the balances should be calculated to (e.g. 30/06/97)

< 2> Strata Method

Enter the method you would like CAPS to use to divide the accounts up into various strata. You can enter [A] for automatically created strata or [M] for manually created. If you choose option [A] then CAPS will ignore your Loans Savings and Investments bounds entered below and deduce its own 22 strata limits based on the population at your institution as at the balance date. If you choose [M] then you can set you own strata limits.

STRATA BOUNDS (FOR MANUAL METHOD ONLY)

If you have chosen the Automatic method you can by-pass these fields. If you have chosen the Manual strata method above then you must enter the strata limits here. For each ledger below enter a series of strata upper limits (in $). You may have between 1 and 22 strata. The lower limit of the first strata will automatically be set by CAPS to $ -9,999,999.99 during the audit. The lower limit of subsequent strata will be set to 1c more than the upper limit of the previous strata. Please refer to the Introduction Chapter, Operating Conventions section of the CAPS manual on how to move around the input screen more effectively.

<3> Loans Bounds (window)

Enter the strata bounds for the loans ledger as explained above. If you have chosen the manual strata profile method then you must not leave this field blank.

<4> Savings Bounds (window)

Enter the strata bounds for the Savings ledger as explained above. If you have chosen the manual strata profile method then you must not leave this field blank.

<5> Investments Bounds (window)

Enter the strata bounds for the Investments ledger as explained above. If you have chosen the manual strata profile method then you must not leave this field blank.

Remember that the above parameters will apply to the Balances Selection as well.

- Then, if you are in Test Mode, CAPS prompts:

You are in Test Mode, do you want to start now? (Y/N)

Enter [Y] if you want to perform a quick test run by sampling only a small number of balances.

Enter [N] if you don't want a test run, but want a profile of all members accounts overnight.

- If you answer [Y], CAPS prompts which:

Records to Process

Enter the number of records you want CAPS to use as a test sample.

CAPS displays messages to indicate its current activity. When completed it returns to the Balance menu. The profile only displays the number of records processed in increments of 100. If it has not processed 100 records yet 0 will be displayed.

The counter is counting clients. Each client may have more than one account.

- If you are not in Test Mode, or if you answer [N], CAPS will prompt:

Program 'Profile' requires running overnight. Confirm (Y/N)

Enter [Y] to queue the program for night audit.

Enter [N] to cancel the request, and return to the Balance menu.

Result

If you chose a test sample only, CAPS immediately runs 'Profile'. If you chose a full live sample, CAPS sets up an instruction for 'Profile' to be run overnight under 'NIGHT AUDIT, (See CAPS Utilities, Option 2 - NIGHT AUDIT for more details).

The results of running 'Profile' are stored for later use.

2. PRINT BALANCES PROFILE

This lets you print the current statistical profile of the Loans, Savings and Investment balances generated by running the Profile program.

Print Password

Enter your print password. No user can print a report unless they have their print password. The user will be given two opportunities to enter the correct password or CAPS will automatically shut down. This feature provides security to reduce the likelihood of unauthorised users gaining access to CAPS reports.

YOU MUST COLLECT THE PRINT OUT IMMEDIATELY !

DO NOT LEAVE AT THE PRINTER !

Result

The results of the profile and the summary for account type-levels are printed out. The profile is four pages long. Please refer to the example at the end of the chapter.

3. SAMPLING PLAN

CAPS can automatically select a statistically randomised sample of individual accounts for detailed audit testing. This menu option lets you choose the statistical basis you want CAPS to use, and lets you control some of the parameters. CAPS will also allow you to input your own sampling plan using either the Manual Stratified or the Manual Dollar Value method.

The Sampling Plan screen looks like this:

Choose the sampling method you want to use, Stratified, Dollar Value, Manual Stratified or Manual Dollar Value. If you require a print out of all the parameters input so far, choose option '5'. CAPS prompts you for the ledger to work on.

Members selected may then be used in the “Circularisation” module to print statements to these member accounts.

The Ledger Selection screen will look similar to this. The chosen sampling method will also be displayed: 

  Choose the ledger that you want to input parameters for.

3.1 Stratified Sampling Method

If you chose the Stratified sampling method CAPS will prompt you with the following screen:

You may notice that the screen displays the selected ledger (i.e. Loans).

< 1> Precision

This is the number of dollars either side of the total population amount that you want to be certain the total is within.

For example, if the total of loans balances is shown as $100,000, and you are happy to accept the sample estimate as being between $99,000 and $101,000, then you should enter the level of precision as $[1000].

< 2> Reliability

This is the level of confidence that you want to have in the results of the tests performed on the selected sample.

For example, 99% means you want to be almost certain of the results (it means taking a big sample), whereas 50% means you are happy if the sample gives you a rough approximation (which means a smaller sample).

< 3> Number of Strata

You can choose between 1 and 5 strata. CAPS has an in-built statistical bias towards selecting proportionally more accounts in the higher balances strata.

CAPS then takes a moment to calculate the strata, the number of accounts in the strata, and its suggested sampling plan showing the number of accounts it thinks should be sampled within each stratum. It displays its suggestion on the screen and asks:

Are you satisfied with this plan

CAPS is designed to let you 'experiment' with different plans. So if you enter [N] CAPS forgets the plans you have just entered and allows you to input the parameters again.

3.2 Dollar Value Sampling Method

If you choose Dollar Value Sampling as your sampling method, CAPS will prompt you with the following screen :

You may notice that the screen displays the selected ledger (i.e. Loans).

< 1> Threshold Error Rate

This is the rate of error you are prepared to accept with the sample of balances you are going to test.

For example, if the total of the balances in your sample is $10,000 but as a result of the test you discover the total balances should have been only $9,800, then there is a 'rate of error' of 2%. If you are prepared to accept that error rate with the sample as reasonable, then the threshold error rate you enter here is [2]%.

You can enter an error rate of between 0.01 (which means that you are not prepared to accept any errors in the sample - in which case CAPS will choose a much bigger sample) and 10%, (which means you are still prepared to accept the test even though the sample could be in error by as much as 10% - in which case CAPS suggests there is little point in selecting a considerable number of accounts for testing).

< 2> Expected Error Rate

This is the rate of error you expect from the total of all the accounts. For example, if the total balance on the Loans Ledger was shown as $100,000 and you are very confident the real balance lies somewhere between $99,000 and $101,000, then you would enter an 'expected error rate' of [1]%.

The 'expected error rate' must be less than the threshold error rate' you previously entered.

< 3> Accepted risk of Overstatement

This is the 'chance' you are prepared to take of the sample failing to identify that the clients balances are overstated by more than the threshold error rate. A lower acceptable risk will require a bigger sample.

For example, if you enter [5]%, you are prepared to accept the possibility that five times out of a hundred the sample you choose will indicate that the total balance is within your threshold error rate, whereas in fact the total balance is lower.

< 4> Acceptable risk of Understatement

This is the 'chance' you are prepared to take of the sample failing to identify that the clients balances are understated by more than the threshold error rate. A lower acceptable risk will require a bigger sample.

CAPS then calculates a recommended sample size. It displays its recommendation on the screen for you as a number of dollar values to sample, and prompts:

Are you satisfied with this plan?

CAPS is designed to let you experiment with different plans before deciding on the one to use. If you answer [N] it goes back and asks you to put in another set of parameters again.

If you answer [Y] CAPS will file the plan.

The Dollar Value sampling plan selects random dollars between 1 and the total number of dollars in the ledger. Each dollar will belong to an account. Because some accounts have large balances it is possible for them (and even small accounts) to be selected twice thus giving you less accounts selected than the number of dollars requested (i.e. 220 dollars might select 203 accounts)

3.3 Manual Stratified Sampling Method

The Manual Stratified sampling method is a manual version of the Stratified method. You are able to specify exactly the stratum limits you desire and the sample size to select. The parameters you enter here will be used in place of the stratified parameters. It is possible to use the automatic method for one ledger and the manual method for another. The last method used for that ledger will dictate the parameters used for a stratified selection. If you chose the Manual Stratified Sampling Method CAPS will prompt you with the following screen :

The screen displays the ledger being operated on (i.e. Loans).

1 Parameters

Upper limit to stratum

Enter the dollar value of the upper limit to this stratum. When finished with all stratum press [Enter] here to go to the bottom of the screen. To skip a stratum in order to select only larger balances simply input an upper limit here with a sample size of 0.

NOTE: You can enter a maximum of 5 strata only.

Total Number in stratum

Enter the total number of accounts whose balances fall in this stratum. Be sure you have entered the number correctly. If you are using the Upper limits shown on the Balance profile the total number in the stratum can also be read from there.

Sample size

Enter the number of accounts you want CAPS to select as a sample from this stratum.

Total $ in stratum

Enter the total value of accounts whose balances fall in this stratum. Be sure you have entered the number correctly.

Once all the stratum desired have been input, press [Enter] if satisfied with the plan.

Result

The information input is recorded on file for CAPS to use as criteria when selecting individual balances from the three ledgers.

The Manual Stratified method can be used to invoke the Discovery method of selecting random accounts (as opposed to dollar values selection of random dollars), by only having a single strata with an upper limit of 99,000,000.

In the Manual Stratified method it is possible to have selected less accounts than requested if the 'Total number of accounts in stratums parameter was set larger than it is in reality.

The Stratified/Manual Stratified method generates random numbers between 1 and the total number of accounts in the stratum. For example, if for a sample size of 5 and a total number of 650 it generates the numbers 23,154,256,401,613 it will be these accounts that are selected as it runs through all the accounts in the stratum in sequence (i.e. the 23rd account, the 154th etc.). However if the true total number of accounts in the stratum is only 600 (A mistake has been made entering the parameters), then it will not find the 613th account and subsequently only 4 accounts will be printed out on the selection report. It is important be careful entering these parameters.

Conversely if the Total number of accounts in the stratum is set too low the sample selected will not be a truly random selection.

3.4 Manual Dollar Value Sampling Method

If you choose Manual Dollar Value Sampling as your sampling method, CAPS will prompt you with the following screen:

The screen will display the selected ledger (eg. Loans).

1 Manual Dollar Value

This is the number of dollar values you want to select. It must be between 1 and 1500.

The Manual Dollar Value sampling plan allows you to specify the number of dollar values to be selected between 1 and the total number of dollars in the ledger. Each dollar will belong to an account. Because some accounts have large balances it is possible for them (and even small accounts) to be selected twice thus giving you less accounts selected than the number of dollars requested (ie 220 dollars might select 203 accounts)

3.5 Print Parameters

Choose this option to print the parameters. Bear in mind that this process restricts the Manual Stratified minimum sample size to 3 and the maximum to the population size (i.e. sample size 1 would get reset to 3 and a sample size of 1,000,000 accounts would be reset to the maximum found in the profile for stratum in that ledger).

4. BALANCES SELECTION

This instructs CAPS to select the sample of accounts overnight using the sampling plan you entered in menu option 3 - SAMPLING PLAN.

You can specify the sampling technique and the order you want the accounts to be printed. The selection parameters screen is as follows:

1 Sampling Method

Enter either 'D' to use the Dollar Value parameters, ‘DM’ for Manual Dollar Value parameters, 'S' to use the Stratified parameters or ‘SM’ to use Manual Stratified parameters. CAPS will default to the last sampling plan selected. The parameters input by you in menu option 3 above determine which ledgers you may select in fields <2>, <3> and <4> on the screen. Thus whenever you adjust the Sampling Method you will notice the ledger selection will change as well.

Ledger Selection

CAPS does not insist that you sample every ledger immediately. You can choose whichever you want. Enter [Y] or [N] as appropriate. Note - you must have entered a 'sampling plan' for the ledger using step 3 - SAMPLING PLAN, otherwise a star '*' will appear in the input position preventing selection of that ledger.

2 Loans

Type [Y] to select the Loans ledger or [N] to by-pass it.

3 Savings

Type [Y] to select the Savings ledger or [N] to by-pass it.

4 Investments

Type [Y] to select the Investments ledger or [N] to by-pass it.

5 Clients statement order :

6 Your control listing order:

Enter the  order you want CAPS to print the third party confirmation statements (Circularisation module) which are to be sent to members. Enter the order for your control listing which is your Print Balance Selection option. Note they can be printed in a different order.

CAPS gives you a choice of 4 possible orders displayed on the screen. Type in the number of your choice (for example, type in [2] if you want Descending Postcode order.)

- if you are in Test Mode. CAPS prompts:

You are in Test Mode, do you want to start now (Y/N)

Enter [Y] if you want to perform a quick test run by selecting a small number of accounts.

Enter [N] if you don't want a test run, but want to select all members accounts overnight.

- if you answer [Y], CAPS prompts:

Records to process

Enter the number of records you want CAPS to use as a test sample.

CAPS displays messages to let you know what it is doing. When finished it returns to the Balance menu.

- if you are not in Test Mode, or if you answer [N], CAPS asks:

Program 'Balances Selection' requires running overnight. Confirm (Y/N)

Enter [Y] to add the selection to the Night Audit Queue.

Enter [N] to cancel the request, and return to the Balance menu.

Result

CAPS files the parameters for printing statements which contains information instructing CAPS to select the accounts overnight using NIGHT AUDIT, and instructing it how you want statements to be printed out.

Members selected may then be used in the ‘Circularisation’ module to print statements to these member accounts. They will appear sorted according to ‘Client statements order’.

5. PRINT BALANCES SELECTION

This lets you print out a control listing of all the balances CAPS has selected for audit confirmation using menu option 4 - SELECTION.

Print password

No-one can print this selection unless they know the password. Enter it if you know it. Note - to stop unauthorised people 'fiddling' with CAPS, you only get two chances. Then CAPS automatically closes itself down.

CAPS displays messages to let you know what it is doing. When finished it returns to the Balance menu.

Collect your printout immediately. Don't leave it at the printer!

Result

CAPS prints the selected balances for each ledger.

Please refer to the example at the end of the chapter.

6. BALANCES SPECIAL SELECTION PARAMETERS

CAPS has the facility to select balances according to a variety of special parameters. These tests complement the statistical selection in menu option 4.

The first step for this Special Selection is to choose the ledger you wish to work on:. The Ledger Selection screen looks like this:

Choose which ledger you would like to input parameters for. It is not necessary to input for all three. To obtain a print out of parameters type option [4].

Members selected may then be used in the “Circularisation” module to print statements to these member accounts.

The Special Selection Parameters screen looks like this :

NOTE: As in previous multi-ledger screens the name of the ledger is displayed, represented here as 'Loans'.

1. Balance date

This is the date CAPS uses to calculate the balances. All balances are calculated as at this date.

2. Largest Accounts

Enter the number of largest balances accounts you would like CAPS to select. For example, if you enter '20' CAPS will select the top 20 accounts (20 accounts which have the largest balances).

Closing Account Test

This test is designed to locate accounts with transactions after the closing date. Only those accounts which have closed between the Period Start and the Period End are checked for these transactions.

3. Period Start

This is the first day (inclusive) of the period that CAPS uses to find closed accounts for the Closing Account Test.

4. Period End

This is the last day (inclusive) of the period that CAPS uses to locate accounts for the Closing Accounts Test.

5. Account Levels (window)

Here the user may specify levels (1-99) to be used in the Special Selection. To indicate that all accounts should be used, leave the window blank by pressing [Enter].

6. Balance ranges (window)

CAPS Special Selection can select any account with a balance within the ranges specified here. You specify a range by entering their upper and lower limits in this window. Loan balances should be entered as positive, the same as Savings and Investments.

Lower limit

This indicates the minimum balance required to be selected. Press RETURN on a blank line to finish input.

Upper Limit

This indicates the maximum balance required to be selected.

7. SPECIAL SELECTION

After the parameters have been input using Menu option 6 the user may begin the Special Selection.

CAPS will first allow a choice of ledger from the following screen :

If parameters have not been input for a particular ledger CAPS will place an '*' in the input position preventing that choice. If you have input parameters for a ledger but do not wish to perform a selection on it, type [N] for that ledger.

Once you have chosen the ledgers to be tested press RETURN to begin the test. If however you wish to adjust the parameters or skip the test, simply type [EX] to exit.
- if you are in Test Mode. CAPS prompts:

You are in Test Mode, do you want to start now (Y/N)

Enter [Y] if you want to perform a quick test run by selecting only a small number of accounts.

Enter [N] if you don't want a test run, but want to select all accounts overnight.

- if you answer [Y], CAPS prompts:

Records to process

Enter the number of records you want CAPS to use as a test sample.

CAPS displays messages to indicate its current activity. When completed CAPS returns to the Balance menu.

- if you are not in Test Mode, or if you answer [N], CAPS prompts:

Do you want ‘Balances Spec Selection’ Submitted for overnight running?

Confirm (Y/N)

Enter [Y] to queue for the night audit.

Enter [N] to cancel the request, and return to the Balance menu.

Result

CAPS will select the accounts according to the parameters input.

Members selected may then be used in the ‘Circularisation’ module to print statements to these member accounts.

8. PRINT SPECIAL SELECTION

This allows you to print out the data produced by the Special Selection Menu option 7. The Largest Accounts, Closing Accounts and Selected Accounts Tests will be printed. Remember the results of this audit can be used as the source of a circularisation in CAPS 3.03.

Print password

No-one can print this selection unless they know the password. Enter it if you know it. Note - to stop unauthorised people 'fiddling' with CAPS, you only get two chances. Then CAPS automatically closes itself down.

CAPS displays messages to let you know what it is doing. When finished it returns to the Balance menu.

COLLECT YOUR PRINTOUT IMMEDIATELY. DON'T LEAVE IT AT THE PRINTER!

Please refer to the example at the end of the chapter.

Result

CAPS prints the:

    • Selected largest accounts
    • Selected closing accounts
    • Selected special accounts.

9. CLEAR BALANCE AUDIT FILES

This allows you clear all files relating to the balance audit.

-Caps will prompt you with:

Are you sure you want to clear ‘balance audit’ files?

This is just a warning and a check to make sure you really know what you are doing. If you answer [Y], CAPS immediately clears all balance audit files. They cannot be recovered. If you answer [N] CAPS returns you to the Balance menu without doing anything.

Result

The balance audit work files are irretrievably cleared.