103 results found
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Workpapers | Profit and Loss Review - Commentary on Variances
Opportunity to provide explanations for significant changes in balances (specifically profit and loss items):
- It would be useful if the PNL review section of Xero Workpapers had an area to incorporate commentary on significant variances or that a balance is not material and therefore no further work on the balance has been performed.
- This would add value in that you won't have to upload separate documents for each profit and loss line item
3 votes -
foreign tax credits
In the Tax workpaper, allow for extra tax credits - e.g. foreign tax credits (we have a number of non-individual clients who receive these)
1 vote -
Workpapers - Ability to set period that workpaper is run across
Workpapers to run for periods (not just years) and for periods ending not on a month end.
The majority of my clients have a year end with 5 April. At the moment i would only be able to run the work papers to 31 March. I also have other clients with year end dates throughout the year.
In addition to this, I can only run the workpapers for a full year. What happens if a business ceases. Often we need to run a set of accounts, and therefore workpapers, for a shorter/longer period.
34 votes -
Workpapers - Carry existing packs forward when creating new ones
The entire workpapers function is inefficient and burdensome. It would be much better to have packs carry forward when creating new packs so that you don't have to add all the notes and work papers back each time. When you roll a work paper pack, having to check & uncheck all the irrelevant sections is a waste of time that would also be alleviated by just being able to roll the prior period pack. The ability to use excel sheets with linked data to the accounts in Xero would be greatly beneficial. Another aggravating and time consuming issue is not…
8 votes -
Workpapers - Ability to edit Review Points
Make Secondary review points editable and able to be deleted as can the Primary review points. It's an obvious and frustrating omission for Users of Xero Workpapers.
2 votes -
Workpapers - Page numbering that works with auditors reports
When preparing annual financial statements and performance reports for auditors, it is important that the contents page and accountant's disclaimer report come before the statements that the auditor needs to refer to in their audit opinion, so that they report on pages 5 to 17, not 5 to 7 and 9 to 17. It causes unnecessary costs to both accountants and auditors each year to change round and get this done manually.
1 vote -
Workpapers: Notify when Review is Complete
Currently there are several system notifications in Xero Workpapers however there is not one for when the partner has approved the workpaper pack. This should then send a notification back to the preparer/manager to let them know the job is right to be finalised.
25 votes -
Workpapers - Add Next button to bottom of page
The 'Next' button in workpapers, should be added at the end of the page (eg, A5 - Analytical Review) as this flows better for reviewers and saves time having to scroll to top of page when client has MANY accounts
4 votes -
Reports - Sort Activity Statement "Transactions by Rate" by account code
The ability to sort Activity Statement "Transactions by Rate" report by 'account code'. This makes the detailed report much easier to review and pick up mistakes. MYOB has always had this function and it is a good time saver. Much easier to look through the report
4 votes -
Workpapers - Ability to use Custom Excel Templates
It's been mentioned previously but seems to have fallen off Xero's radar - the ability to use our own Excel workpapers within Xero workpapers would be fantastic.
148 votes -
Workpapers - Sort pack by manager
The ability to sort workpaper packs by manager to help workflow management.
1 vote -
Workpapers - PAYG Instalments section (issue with June CY on Balance Sheet rec)
On the Income Tax workpaper, the first section Tax Provision per P&L has a Less PAYG installments (sic) section.
Xero prefills the dates (e.g. for 2020 FY workpapers):
September 2019
December 2019
March 2020
June 2020All good so far, you can enter the PAYG Instalments that will be included on the tax return.
The final line FY20 Tax to pay/(refund) then agrees to the company tax return.The second section Balance Sheet Income Tax Reconciliation has a Less PAYG installments (sic) section.
Xero prefills the dates (e.g. for 2020 FY workpapers):
June 2019This is good, June 2019 instalment…
4 votes -
Notes on workpapers - Screenshots allowed
It would be useful if there was a section that allocated for notes screenshots to be incorporated into the notes on workpapers for each profit and loss and balance sheet item. This will allow for a screenshot from an email for example to be copied and pasted onto the notes section.
(as opposed to saving this and then dragging it as a document). These notes should also somehow be linked (similar to documents) to each line item of the profit and loss so that if you ":click" on a notes icon the note pops up and you can make the…1 vote -
Workpapers - Multiple levels of approval ✍
Two ideas:
1) Need Bookkeeper and Senior assigned
At the moment, there are only 3 levels "Assigned" "Manager" & "Partner"
On bigger jobs you may have 4 or 5 people involved, which is not possible. Please can you add some more levels eg Bookkeeper, "Senior" or whatever you want, (a custom field would be even better!). Maybe remove the word "Assigned" as it is too vague. (eg what is your job? Answer: I generally get assigned)
2) Senior to to Approve
Following on from (1) it would be good to have an option at least for the "Senior" to approve…
1 vote -
Practice Manager - Link Jobs to Workpapers
Integrate XWPS with XPM - The XPM job should allow us to enter the period start and end date and this should link to XWPS along with the Partner, manager and staff. We should then be able to go into XWPS directly from that job in XPM. This would reduce having to enter data (period and staff) twice on XPM and XWPS
17 votes -
Workpapers - Enable use for non-Xero clients
For non-Xero clients, it would be very useful to be able to use workpapers and include the actual account balance from the Client's accounts, rather than displaying the Xero account balance as nil. As a practice, we use Xero workpapers, but not every single client uses Xero.
9 votes -
XPM Workpapers - Show account Review Point relates to in the section at the bottom of workpaper
Currently, if I am looking at a Workpaper and I click on the Flag next to an account, I can add a Review Point for that account.
That review point shows up in the list at the bottom of the workpaper.
If I click the flag next to the account, I can see the review points that have been added to that account... but I can't see the replies to those review points and nobody can reply to them from that area.
I have to scroll down to the bottom to reply to the review point.
When I get to…
2 votes -
Workpapers (UK) | CT Workpaper - Marginal Tax relief
Please could we update the Corporation tax Working paper in the UK in Working papers for Marginal tax relief.
It's fairly useless without it as the final figure does not agree at all to the value of the CT. Unless it's fudged and then you can't see the computation.2 votes -
Reports - Add Spend /Receive Money report
If I had a spend / receive money report I could just review it against my AR and AP reports.
3 votes -
Workpapers - Integration of bank statement request portal
Integrate a bank statement generator into bank feeds so accountants and bookkeepers can send a request directly to the clients bank for a bank statement for quarterly bank reconciliation. Pre-approved by client when bank feed integration is setup. Alternatively, automated bank statements per quarter generated and uploaded to Xero via bank automation.
105 votes
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