Introduction to SMSF Sorted for Accountants connected to SMSF Sorted Administrator
Introduction to SMSF Sorted for Accountants connected to SMSF Sorted Administrator
SMSF Sorted Enterprise provides a platform to accountants where they can connect with Administrator Firms and review the Workpapers of outsourced jobs to Administrator Firms and work with them seamlessly.
The article below will guide Connected Accountants on creating their complimentary portal, managing portal, managing submitted jobs, submitting docs, collaborating with administrator firms and auditors.
Please follow the steps below to create your SMSF Sorted complimentary portal
The administrator firm initiates the connection request. The accounting firm's primary contact will then receive an email from Cloudoffis requesting they register and approve the connection.
Please click the blue Register Now button within that email and follow the steps and input your firm’s details.
Once you have input the firm details you will receive an email stating that your portal has been created and inviting you to log in. Please follow the link in the email to log in.
Once you have logged in you are required to verify the business code details by clicking on Admin > Connect > Accounting Firm and clicking Verify. After logging into your accounting software, you will need to select the relevant business code for which the connect request has been sent. After this step, the connect request will be accepted. Any new job created by the administrator firm will be linked with your firm and the secure connection will ensure data integrity.
We recommend customising your view so that you only see the tabs relevant to your firm as accountants. To edit the view please click the “Preferences” icon on the top right-hand of screen:
Job created by administrator firm
Once a job is created by the administrator firm; the entry of the job will be reflected under Clients > Manage Jobs > Submitted to Administrator(s) page as per below.
Uploading and Submitting Docs to administrator firm
You would be able to upload documents by clicking Upload Documents under the Action menu of the job.
- The documents uploaded will be listed under the "Workspace" folder.
- To submit the documents to the administrator firm; you would need to select the documents and click the Submit to Administrator icon.
- Once the documents are submitted to the administrator the list of documents submitted can be viewed from the ‘Submitted to Administrator’ folder.
Reviewing the job
Once the administrator firm marks the job as ‘Ready for Peer Review’ the link on the job dashboard will be active and you can access and review the job by clicking on it.
The Job Dashboard provides the below details and navigation tools:
Job Details
Job Status
Recent Queries
Fund Summary
Financial Reports and Additional Reports
- Users can mark each section as Reviewed by selecting the checkbox on each section. These sections are Queries and Review Points, Workpapers, Observations, Documents, Financial and Additional Reports.
Reviewing Statement of Financial Position and Operating Statement
To review the Statement of Financial Position, click on the Statement of Financial Position option under the Financial Reports section.
The Statement of Financial Position includes the following:
General Ledger of specific line items.
Investment units, Line items values with comparatives of the previous year, documents tagged, notes addressed to you, queries, observations, and workpapers.
To view the general ledger of a specific line item; click on the chart name in blue font. You can also filter and search in the general ledger.
To open and view the supporting documents tagged on the line item; click on the document icon highlighted in green to the right of the screen. You can click on bookmarks of the document to jump on to the specific page and review the details.
You also can refer to any query or notes that are addressed to your firm.
The observation warnings can also be viewed on clicking of it.
Similarly to review the operating statement you would need to click on the Operating Statement option under the Financial Reports section.
You can also view the reports of accounting software by clicking any specific report shown under Additional Financial Reports heading. You can also search any report with the search option available under that.
Queries & Review Points
The queries raised by your administrator firm are reflected under the Recent Queries section. You can view and respond to the queries by clicking View all Query.
Click on a query to expand the details. You are then able to type your reply and click Reply or Reply and Email. Reply option sends the response only, however, if you want to notify your administrator firm of the reply you can use Reply and Email option.
Click + icon to attach any document with your reply.
You can filter the queries by using the filter options.
You can view Review Points addressed to your firm by clicking on the Review Points.
Completing the Peer-Review
Once the Peer Review has completed, you should mark the job status as ‘Peer-Review Completed’ by clicking on ‘Change Status’ option and selecting the correct status. This will notify your administrator firm and also activate the Submit to Auditor option.
After reviewing the job, if any changes are required in accounts, you can request the change and raise your review points by clicking Re-process Request.
Submitting a job to Auditor
Once the Submit to Auditor button has been activated, you can submit the job to the auditor.
You would need to connect with the auditor before sending the job for audit. If your auditor is using the Cloudoffis Auditomation platform for conducting audits, they can invite you to connect with them and you can accept the connect request by clicking on Admin > Audit Firm > Action Menu > Accept.
Alternatively, you can invite your auditor to connect with you. To send a connect request to the auditor please click on Connect Audit Firm option and enter the ABN of the audit firm. If the audit firm is already using Cloudoffis Auditomation, the details will be filled automatically, otherwise, you will need to fill in these details.
Once you are connected with your auditor, you can send jobs for their audit. Click Submit to Auditor and select the auditor to whom you want to send the fund for audit. You also need to select the Client Contact who would be receiving all queries and other notifications from auditor.
Before submitting the data to the auditor, SMSF Sorted auto-checks if the latest financial data imported matches with your accounting software. If the data does not match, SMSF Sorted will show the line items where there are differences. You may need to contact your administrator firm if the data does not match.
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