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Year-end tasks for QuickBooks Online Accountant Workpapers

SOLVEDby QuickBooks7Updated September 28, 2023

The Year-end tasks feature in QuickBooks Online Accountant Workpapers provides an easy-to-use task list for year-end needs. Year-end tasks help you stay on track without needing to leave QuickBooks Online Accountant or maintain a to-do list outside of where you are working.

Tasks can be monitored by multiple firm members in a collaborative fashion. Progress and completion is displayed alongside each task and also displayed in the client list area. This gives reviewers a high-level overview of the firm’s progress.

Here's where to find your year-end tasks:

1. Navigate to Workpapers in your clients' file.
2. Select the Year-end tasks tab. You'll see all of your year-end tasks, with status updates.

You can change the status of a task by clicking the drop-down arrow and selecting the appropriate status for the task: To do, Waiting, or Done.

In addition, you can prioritize and organize your tasks by dragging and dropping them.

We have a default list of year-end tasks, but you can also add, edit, and delete your own specific tasks, as well as drag-and-drop tasks in the order you prefer:

Send engagement letterSend out the engagement letter on behalf of your firm. Tip: there's a Letters tool with templates found under Accountant Tools.
Collect and organize supporting documentsAsk clients for all supporting documents associated with their books and business operations

Add any relevant prior-year documents
Review trial balanceReview all accounts for discrepancies and evaluate the client's books

Make notes on specific accounts and add supporting documents
Make adjusting entriesMake necessary adjusting journal entries or changes to the books to ensure everything is clean
Prepare current year T1/T2Start preparing your client's self-employed or incorporated tax return. Once complete, take note of any tax owing or a refund.
Book the tax provisionCreate an adjusting journal entry and book the final tax amount
Prepare financial statements and final engagement documentsCreate financial statements with the final figures

Create the final engagement report
Get letters, financial statements, and other documents approved by clientsGet all documents signed by the client and add the final version to Workpapers documents

Send an invoice and collect payment
File T1/T2 returnUse Pro Tax to EFILE for the best books-to-tax cloud experience
Lock the booksLock the books so there are no unwanted or accidental changes to the prior year's books

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