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Using WorkPapers Groupings & statements

SOLVEDby QuickBooks10Updated January 26, 2024

QuickBooks Online Accountants are able to create simplified financial statements by combining the existing Workpapers product with a new seamless workflow called “Groupings & statements”, allowing the creation of financial statements in just a few steps.

Groupings & statements users can:

  • Create and organize groups for financial statements (for example, balance sheets and Income Statement)
  • Deliver timely communication to firm users by adding notes to groups and accounts
  • Work collaborative and seamlessly within their firm by adding attachments to groups and accounts
  • Save time by utilizing the “drag-and-drop” functionality
  • Quickly share financial statement details with clients and colleagues by using the “export to Excel” and “export to PDF” functionalities

In this article, you'll learn how to:



Access groupings & statements

  1. Sign in to the QuickBooks Online Accountant.
  2. Open a client company.
  3. Select the briefcase icon.
  4. Select the Workpapers option in under the Accountant Tools menu.
  5. Select the tax year review (for example, 2018).
  6. Select Grouping & statements.

The trial balance details display.



Organize financial statements

Groupings & savings users can group accounts to simplify the number of similar accounts that display.

  1. Select the accounts to group; a numeric message displays that keeps a count of the selected financial accounts:
  2. Click the Group accounts.
  3. Provide a Group name (for example, “Cash”).
  4. Provide a Reference code (for example, “A”).
  5. Add any Notes (if applicable).
  6. Add any Attachments (if applicable).
  7. Select Save when complete.


Modify attachments

Users have the ability to delete or modify the attached file. You can apply the option of “Delete” or “download” to the file.Users have the ability to delete or modify the attached file. You can apply the option of “Delete” or “download” to the file.



Use the drag-and-drop function

Users can add other accounts to a group using the “drag-and-drop” functionality:

  1. Select the accounts to group.
  2. Drag the accounts into a group.

The account is added to the group.

You can add additional notes and attachments or “ungroup” by selecting the Update option.



Export financial statements

You can export reports to Excel in order to make additional changes, as well as generate a detailed report with the following:

  • Cover page
  • Compilation Engagement Report
  • Balance Sheet
  • Simplified Income Statement
  • Statement of Retained Earnings

Go to Run report and select the Export as Excel.

The report exports to an Excel sheet with designated tabs.

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