Managing Review Notes

Introduction

We have added a dedicated module specially designed to improve the efficiency of the review process. This module includes Financial Summary and Review Notes. The previous 5 years' Financial Summary helps to perform analysis of ongoing trends. Multiple users can now reply to Review Notes and create comment threads. You can now add multiple review notes as necessary and add comments within. Every comment and thread is timestamped (date and time) to ensure clarity and traceability. All review notes and the Financial Summary of 5 previous years are now visible at a glance under the dedicated Review Summary section. Review notes have a defined two-stage workflow: Open and Closed.

How to Add Review Notes

You can add Review Notes to your Financial Reports, Journals and Workpapers. Once you have added the Review Note, you will be able to view the overview at a glance in the Review Summary tab of the Workpaper File. Follow the steps given below to Add Review Notes.

Step 1: Login to Tax Sorted and head over to the Workpaper File. 

Step 2: Click on Add button and select Review Note.

OR
Step 2: Hover over to the column alongside to view the Add Review Note icon and click on it.

Step 3: Select the Account Name, Note Type, and Notify to (staff you want to notify).

Note: You can select note types when creating a review note to categorise and organise the Review Notes based on defined Note Types for quick navigation. Note types can be predefined in the Labels module. Click here to know more.

Step 4: Give the Title and Note Description for your Review Note.

Step 5: If you want to Roll Forward the Review Note, select the Roll Forward to Next Year checkbox.

Step 6: Once done, hit Save.

Step 7: You will receive a confirmation toast message at the bottom of your screen.

Note:  You can add multiple review notes by following the same process.

Step 9: You can also add comments to the added review notes as needed.

Editing Review Notes

Step 1: Login to Tax Sorted and head over to the Workpaper File.

Step 2: Search for the previously added Review Notes and click on Review Note icon.

Step 3: Once the Review Note comes up on your screen, click on the Edit icon.

Step 4: This will allow you to edit any detail you want. Once done, click on Save.

Notifying Staff

You can send a notification to the staff member you select while creating a review note. If required, you can also notify them again after you have already created the Review Note by following the steps mentioned below.

Step 1: Login to Tax Sorted and head over to the Workpaper File.

Step 2: Search for the previously added Review Notes and click on Review Note icon.

Step 3: Once the Review Note is open, click on the Notify icon.

Step 4: Notification will be sent to the assigned staff and you will receive a confirmation toast message at the bottom of your screen.

Note: The notification recipient can be updated later if needed, to ensure effective communication.

Delete Review Notes

You can only delete a Review Note. Comments that have been added to the Review Notes as a thread cannot be deleted. Follow the steps mentioned below to Deleting Review Notes.

Step 1: Login to Tax Sorted and head over to the Workpaper File.

Step 2: Search for the previously added Review Notes that you want to delete and click on Delete icon.

Step 3: Click on Yes to confirm the action.

Step 4: The Review Note will be deleted and you will receive a confirmation toast message at the bottom of your screen.

To learn more about the process, explore best practices, and make the most of our features, please visit our Knowledge Base. Contact our Support team if you need any assistance.

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