Workpapers - Automatic Journals from rolled over workpapers
It would be a perfect scenario that with particular types of workpapers, we could auto post journals in the following year.
For example - Borrowing Cost - if Xero created a Borrowing Cost workpaper that tracked borrowing costs and kept an amortisation schedule - this would then be rolled over to the following financial year workpaper - but it could go one step further where when it is rolled over and updated for any new loans or refinanced/paid out existing loans, we could have the option to auto post the amortisation journal.
Same thing with things like Chattel mortgages, especially where it's split between current and non current liabilities - if the workpaper was an in built template, when it rolls over, the interest expense for the year and the reclassification of the unexpired interest and monthly repayments could be auto journaled from the workpaper itself.
This could end up saving a massive amount of time.
Stephen Healy
shared this idea
Hi community, thanks for sharing and feeding back on new Workpapers with us here. I'm pleased to share that this is something that we're working on at present. I'll be back in the new year when this improvement rolls out. 😊
