The home page is an important part of Smart Workpapers, it contains a lot of client specific information that is used throughout the workpapers. Below is a summary of each section and how the information is used.
The entity details section is used for gathering information about the client which is used in worksheets to perform calculations. The following items are needed for the workpapers to function correctly;
- Name of client
- Client code
- Entity type - Select the correct entity type from the drop-down list (Company, Trust, Partnership, SMSF, Association or Other)
- Period start and end dates - the end date is used in many calculations throughout the workpapers
- Depreciation method - Select the correct method for this financial year from the drop-down list (Small Business Rules, Capital Allowance, Former Small Business)
- Small business entity - Yes/No; Note: If not selected workpapers assume 'No'.
- Base rate entity - Yes/No; Note: If not selected workpapers assume 'No'
Contact details are used in the client contact worksheets such as Queries and MAC's.
Software details is used to record the client software information so all users can access the file.
Note: If using Connected Workpapers this information will automatically populate.
The firm details section is used for populating firm information on printable worksheets and to record job preparation and review dates.
- Name of Partner, Preparer and Reviewer - These details can be selected from a drop-down box list of users from the smart workpapers website.
- Click on the blue drop-down box and start typing the name of the user, then click OK as shown below;
Select user box:
The options section contains a reconciliation tolerance amount and by default it is set to $0.01. This is used throughout the workpapers where formula calculations may result in minor discrepancies or you wish to apply a rounding tolerance to your files. To change the rounding amount just enter another amount in this section (i.e. '$0.10' will allow balances to marked as reconciled up to a discrepancy of 10 cents)