The Home sheet is an important part of Connected Workpapers, it contains a lot of client specific information that is used throughout the worksheets.
This article summarises each section and how the information is used:
Entity detailsThe Entity Details section is used for gathering information about the client which is used in worksheets to perform calculations. The following items are needed for Connected Workpapers to function correctly:
Automatically populated from connecting to the client file:
- Name of client
- Client code
- Entity type
- Period start and end dates
- Tax year
Needs to be manually entered:
- Depreciation method - Select the correct method for this financial year from the dropdown list
- Small business entity - Yes/No (Note: If not selected workpapers assumes no)
- Accounting method - Accrual or Cash
- Base rate entity - Yes/No (Note: If not selected workpapers assumes no)
Contact Details are used in the client contact worksheets such as a 'Client Query' in the Workpaper Items. If the contact details exist in the client file, they will be brought through to this section.
The Software Details section is used to record the client software information so all users can access the file. This information will automatically populate once you have connected to your client file.
The Firm Details section is used for populating firm information on printable worksheets and to record job preparation and review dates. These details will flow through to the Dashboard on the Smart Suite Workpapers website, so that you are able to see all your workpapers in one place.
The name of the Partner, Preparer and Reviewer can be selected from a dropdown list of users that have been added to the Smart Workpapers website. Clicking on the blue dropdown arrow will bring up a dialogue box to select the user. Simply start typing the name of the user, then click OK.
The Options section contains a reconciliation tolerance amount. By default it is set to $0.01. This is used throughout the worksheets where formula calculations may result in minor discrepancies or you wish to apply a rounding tolerance to your files. To change the rounding amount just enter another amount in this section (i.e. '$0.10' will allow balances to marked as reconciled up to a discrepancy of 10 cents).
Next article: Connected Workpapers - Index Sheet