Accessing and Generating SMSF Sorted Workpapers

Introduction

1. We have introduced comprehensive workpapers to support the preparation of Financial Statements. This article outlines how to Access and Generate Workpapers and utilize its feature.
2. SMSF Sorted automatically imports and pre-populates certain information into workpapers from your source data, minimizing manual data entry.
   
3. For example, in the Property Workpaper, details such as, Adjusted cost, Property address, Income and expenses, and Purchase date are imported from your administration software.
   
4. You can also manually edit or add additional details like LRBA information or add extra line items. Any changes made will be automatically saved after a few seconds, or you can click the save icon to manually save your changes.
5. Supporting documents and comments can be added in a manner similar to adding details on Financial Statements during review. All updates are saved automatically when exiting the edited field or moving to another screen.

How to Access Workpapers

To access workpapers, follow these steps:

Step 1: Click on Clients > Manage Jobs > My Jobs.

Step 2: Click on the relevant Client Name.

Step 3: Click on the Statement of Financial Position or Operating Statement from the Job Dashboard.

Step 4:  A small Workpapers icon will appear on relevant line items in either the Operating Statement or the Statement of Financial Position. When opening workpapers for the first time, click the Workpapers icon to open the Financial Workpaper screen.

Generating Workpapers:

Step 1: A small Workpapers icon will appear on relevant line items in either the Operating Statement or the Statement of Financial Position. 

Step 2: You will be prompted to generate workpapers. Click the Generate Workpapers button.

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Step 3:  After a brief moment, the system will generate the workpapers, which will then appear on your screen.

Once the workpapers are generated, they will be displayed similarly to the example shown below:

To learn more about the process , explore best practices, and make the most of our features, please visit our Knowledge Base. You can also check our FAQ section for answers to common questions, or contact our Support team if you need any assistance.

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