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Year-end tasks for QBOA Workpapers

We are happy to introduce year-end tasks to QBOA Workpapers, a new feature that provides an easy-to-use task list for year-end needs. Year-end tasks help you stay on track without needing to leave QBOA 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.

We have a default list of year-end tasks, but you can also add, edit, and delete your own specific tasks:

Task Purpose
Send engagement letter Send 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 documents
  • ask clients for all supporting documents associated with their books and business operations
  • add any relevant prior-year documents
Review trial balance
  • review all accounts for discrepancies and evaluate the client's books
  • make notes on specific accounts and add any supporting attachments
Make adjusting entries Make necessary adjusting journal entries or changes to the books to ensure everything is clean
Prepare current year T1/T2 Start preparing your client's self-employed or incorporated tax return. Once complete, take note of any tax owing or a refund.
Book the tax provision Create an adjusting journal entry and book the final tax amount
Prepare financial statements and final engagement document
  • create financial statements with the final figures
  • create the final engagement report
Get letters, financial statements, and other documents approved by clients
  • get all documents signed by the client and add the final version to Workpapers documents
  • send an invoice and collect payment
File T1/T2 return Use Pro Tax to EFILE for the best books-to-tax cloud experience
Lock the books Lock the books so there's no unwanted or accidental changes to the prior year's books

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