Importing Opening Balances

The import process

Where you have used Smart Workpapers in the prior year, you have the ability to rollover those worksheets. The worksheets used in the prior year will be added to the current year workpapers and, where available, closing balances and lists from the prior year will also be included in the current year workpapers.

Note: the rollover function only works correctly if you are using the same type of starter file (i.e. a 2020 Accounts and Tax workpaper cannot be used to as a rollover option for a 2021 Connected Workpapers starter file).

To use this function, click on the Import Opening Balances button in the top right of the Index sheet.

Once clicked, a pane will appear on the right of the screen. The easiest way is to open the prior year workpaper and then it will be available from the dropdown list to select, or you can also use the Browse for file button. 

Once you have selected the file, click Proceed. A list of workpapers that can be inserted will be displayed. To exclude a workpaper from the rollover function, click on the X button next to it. 

Note: If a workpaper is a template worksheet, the latest version will be downloaded and last year's data will be rolled over. If a workpaper is a non-template worksheet, last year's workpaper will be copied over in its entirety.

To start the import process, select Insert. Once the import is complete, you will get a message letting you know it has been successful, click Close.

Rollover availability

A full list of the workpapers which have the Rollover Opening Balances feature enabled is located in the next section.

Below is a list of the different types of worksheets that can be added to the Index and their expected behaviour when a file is rolled over.

WorksheetsExpected result
Index sheet
Smart LinksSmart link will rollover (from 2018 onwards)
HyperlinksHyperlink will rollover (from 2018 onwards)
CommentsComment will rollover (from 2017 onwards)
Non-template worksheetWorksheet will rollover in it's entirety
Customised template
(i.e. uploaded to the cloud as a firm template)
Searches for the most current firm version. Data will roll over if customised for the correct named ranges.
Modified Smart Suite template
(i.e. changed for one job)
Searches for the most current Smart Suite template version (no customisations will be rolled over)
Smart Suite templates
Spare Worksheets
('Blank' and 'List')
Worksheet will rollover in it's entirety. However, points to the file location where prior year file is saved. Warning message will appear when file is subsequently opened (Excel limitation).
Various other worksheetsSome data will roll over on selected worksheets. The most up to date workpaper for the current year is searched for and imported. 

Firm worksheets can be customised to roll over specific data. Help on using this function can be found in the Smart Workpaper Customisations User Guides.

Templates available for rollover

Template ReferenceTemplate Name

Salaries and Wages

10Interest Received
11Dividends Received
13BPartnership and Trust Distributions
21ARental Property
21BRental Property Summary
A02Items Forward
C05Franking Accounts
C20Tax Reconciliation
D01Motor Vehicle Expenses
D05Other Work Related Deductions
D07Div 7A Calculator
D07Interest and Dividend Deductions
D08UPE Repayment Calculator
D10Cost of Managing Tax Affairs
D15Supplementary Deductions
FB03Car Parking Fringe Benefits
FB07Housing Loan Fringe Benefits
FB09Loan Fringe Benefits
FB10Car Fringe Benefits
FB11Residual Motor Vehicle Fringe Benefits
G05Borrowing Costs
G10Fixed Assets Depreciation
G25Other Assets
G31Division 7A
H08Superannuation Liability
H09Chattel mortgage
H10Hire Purchase
H11Loan Repayment Schedule
H24Loan Repayment Schedule
H30Other Liabilities
H39Provisions - Long Service Leave
H40Provisions - Annual Leave
K05Company Capital Accounts
K06Discretionary Trust Capital
K07Partners & Sole Traders Capital
K08Unit Trust Capital
M03Interest Apportionment
M07Distributions - Simplified
M11Dividends - Comprehensive
M15Interest Received
M2Borrowing Costs
M20Other Income
M25Rental Property
M26Rental Property Summary
M35Sales Trading Account
M40FBT Contributions
N35Interest Apportionment
N45Motor Vehicle Expenses
PHIPrivate Health Insurance Details
PP06Produce Trading Account
PP07Deferred Income
SF33Fixed Assets Deprecation
SF35Other Assets
SF49Transfer Balance Account
SF53Interest Received
SF54Dividends Received
SF55Rental Property
SF56Rental Property Summary
SF58Managed Fund Distributions
SF61Changes in Market Value

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