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Prepare your annual accounts using Workpapers in QuickBooks Online Accountant

by Intuit•7• Updated 2 weeks ago

QuickBooks Online Accountant Workpapers helps you stay on top of your client’s annual accounts. This article walks you through how to prepare and submit annual accounts to Companies House.


Before you begin

Companies must file their annual accounts with Companies House by specific deadlines each year. These accounts summarise how the business has performed over the financial year.

  • First-time filing: If you’re submitting accounts for the first time, they must be filed within 21 months of your company’s registration date.
  • Statutory accounts: Second-year filings and onward must be filed within 9 months after the end of your company’s financial year.
  • Date restrictions: You can prepare annual accounts in QuickBooks even if the accounting period is longer or shorter than 365 days.
Important: If you find that you're unable to file for the tax period you've selected, it may be that this tax period hasn't been introduced to ProTax yet. This will typically update at the start of every tax year.

For full details, visit the HMRC website on preparing annual accounts.


Step 1: Sync company details with Companies House

To help reduce manual entry and ensure consistency, you can sync your client’s company details directly from Companies House into QuickBooks.

Note: Before syncing, make sure the information held by Companies House is up to date. QuickBooks pulls data directly from Companies House, so any inaccuracies there will appear in your client’s records.

To sync company details:

  1. Go to the Annual accounts tab in Workpapers.
  2. If the Company Registration Number (CRN) is missing from your client’s account settings, enter it when prompted.
  3. Select Sync with Companies House.
  4. A side-by-side comparison will appear. On the left, you’ll see data from Companies House; on the right, the existing information in QuickBooks.
  5. Review the details. If everything looks correct, select Sync all data.
  6. Once synced, the updated fields will become read-only in QuickBooks to prevent accidental edits.

If changes are made later at Companies House:

  • You’ll see a prompt to update the details the next time you access the annual accounts report. Select Go to data sync to review and apply any new changes.
  • This helps ensure your records are accurate, reduces manual entry, and adds a layer of security—especially if changes are made without your knowledge.

Step 2: Review your year-end tasks

The Year-end tasks feature in Workpapers gives your team a clear checklist to work through collaboratively and track progress. As the financial year comes to a close, it’s important to stay organised and ensure all necessary tasks are completed.

  1. Go to Clients.
  2. Select the client file you wish to work on from the client dashboard.
  3. Go to Accounting review or Bookkeeping, depending on your view.
  4. Select Workpapers.
  5. Select the Year-end tasks tab. A list of all your year-end tasks will show, along with status updates. 
  6. Review the tasks and action items needed, and mark them as complete.

QuickBooks supports accounting periods both longer and shorter than 365 days, up to a maximum of 18 months. When you change the period length in Workpapers, it’s automatically updated in Pro Tax—helping you stay aligned and avoid any gaps or overlaps.

This helps you:

  • Avoid overlaps or gaps between accounting periods
  • Stay aligned across Workpapers and Pro Tax
  • Confidently handle non-standard year ends with less admin
image
  1. Under the status column, select the ▼dropdown arrow. 
  2. Select the appropriate status for the task: To do, Waiting, or Done.
  1. Select Screen Shot 2022-07-25 at 4.49.52 PM.png Reorder. 
  2. Drag and drop the task to your desired order.

To add a new task, follow these steps:

  1. Select + Add.
  2. Give the task item a name.
  3. Enter the details.
  4. Select Save.

You can also copy all existing tasks from your client’s books and into your year-end task list. To do so: 

  1. Select + Task from template.
  2. Choose the client file. 
  3. Select Yes to confirm.
  1. Select the ▼dropdown arrow next to the task. 
  2. Select ✏️Edit to make changes, or select Delete to take the task off your checklist.

Step 2: Attach supporting documents

Use the Review and adjust section to upload supporting documents or link to files stored externally. This ensures all documentation is tied directly to the relevant account line, making review and collaboration easier.

  1. Go to the Review and adjust tab.
  2. Find the relevant account line.
  3. Select the attachment icon to upload a file or paste a link.
  4. The attachment will be saved with that account for easy reference.

Step 3: Review your client accounts

As an accountant, you know how important it is to review your client’s accounts regularly. In the review and adjust section, you can compare your client’s Balance Sheet and Profit and Loss Report to see if the data matches up. 

You can also see last year’s totals, and account differences, as well as any adjusting entries you’ve made to Workpapers. 

  1. Select the Review and adjust tab. 
  2. Next to Accounts, select the ▼dropdown arrow to expand the list of accounts.
  3. Select the account total for the current year to get a full list of transactions. 

Switch to Trial Balance View to see debits, credits, percentage changes, and amount changes to the account over the tax year. In the Review and adjust tab, you can also attach documents and links, add notes, and make adjusting entries. To reorganise your workspace, select the gear icon.


Step 4: Review the change list

Every time someone makes a change in Workpapers or in QuickBooks Online for this period, it’s logged on this list. The change list acts like an audit log. This will show up in your Workpapers dashboard, regardless of which tab you’re in.

For these changes to go through, review and accept them. Changes that you accept from the change list will automatically be put into your annual accounts.


Step 5: Review your annual accounts

When it comes to filing your corporation tax return, make sure you review your annual accounts help to reduce the risk of any errors or mistakes. By reviewing your annual accounts thoroughly, you can check that all the details are up-to-date and accurate–from your company’s name and address to its directors’ names and contact details.

  1. Select the Annual accounts tab. 
  2. Next to the annual account for the current tax year, select the ✏️pencil icon. This will open a form where you can review and edit the account details. 
  3. Review each line individually for accuracy. Note, preselected items are mandatory fields. 
  4. Select ✏️ Edit to make changes to the following:
    • Directors
    • Authorisation 
    • General information 
    • Principal activities of the company 
    • Statement of going concern 
    • Average number of employees 
  5. Select Save. Any changes you make will show in the preview field. 
  6. Once you’re happy with everything, select Done.

Step 6: Download your client's annual accounts

Download your client’s annual accounts in a PDF or iXBRL format if you want to submit to Companies House or just have them for your records. 

  1. Select the Download button. 
  2. Select the file format you wish to download it as. This will save a file to your computer.

Step 7: Map accounts to tax lines

After carefully reviewing your client’s accounts, you’ll be able to assign them to specific lines on the tax form.

  1. Go to the Tax mapping tab. 
  2. Check each tax line for accuracy. 
  3. If you have any unmapped accounts, select Assign tax line. 
  4. In the To (line number or name) field, choose the correct tax line for the account. 
  5. Select Save.

Do a final review of each tax line to make sure it’s accurate and there aren’t any mistakes. If you need to make changes, select the ✏️pencil icon next to the tax line and make the changes.


Step 8: Prepare a return in Pro Tax

Now that your annual accounts are ready, it's time to prepare your tax return. You can import this data into Pro Tax. The Pro Tax feature helps you prepare, review and file your CT600 tax return to HMRC. 

  1. Go to the Annual accounts tab.
  2. Next to the annual account, select Send to Pro Tax.
  3. Then, follow this helpful article to file your Corporation Tax return (CT600 form).

QuickBooks will notify you when there are changes in Companies House that may affect your client’s records. This helps keep company data up to date and improves accuracy when preparing year-end accounts.


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