Review client transactions using Books Close

Find and resolve uncategorized transactions, anomalies, and coding errors in your clients’ books using Transaction Review in Intuit Accountant Suite. This guide explains how to access and use this tool during the close process. 

Prerequisites

• Only the primary and company admins have default access to onboard a close client.  Your firm can provide this access to other team members by editing Role-Based Access Control settings for Books Close.

Access Transaction Review

Follow these steps to access and utilize the Transaction Review tool:

1. In Intuit Accountant Suite, select Books Close.
2. Locate the client and the specific closing period you need to review.
3. Select Open file review for that client and period.
4. Select Transaction Review.

You will see a default set of anomaly checks and the number of transactions flagged under each check.

Customize anomaly checks (optional)

To tailor the checks used in your review process:

1. Select Add or remove.
2. Choose the transaction checks you want to include in your review.

Review flagged transactions

Address the transactions flagged by the anomaly checks:

1. Select a specific anomaly check to expand the list of transactions flagged under that category.
   • Note: Some checks include sub-categories. For example, the Uncategorized Transactions check covers transactions coded to Uncategorized Assets, Uncategorized Expenses, and Uncategorized Income.
2. Review each transaction listed. 
3. Make necessary corrections directly in the transaction list. Changes to categories or payees are automatically saved to the client’s QuickBooks account.
4. Once the issues with a transaction are resolved, select Status on its line. This changes the status from To-do to Resolved.
   • To revert a transaction back to To-do, select Status again.
5. Continue reviewing all transactions within the check group.

Apply filters to organize data (optional)

To help manage large lists of transactions, you can use filters:

• Status: Display transactions filtered by To-do or Resolved, or view all.
• Date: Select Date range to adjust the time period for the transactions shown.
• Minimum Threshold: Select Edit threshold to change the minimum transaction amount of flagged transactions.
• Exclusions: Select Edit exclusions to specify transactions that anomaly checks should ignore. Multiple selections act as OR conditions.
• Views: Select Customize to adjust the transaction table display, such as adding or moving columns or rows shown per page.

Saved filters and customizations will carry over to future sessions and close periods.

Update review status

To update the overall status of a specific anomaly check category:

1. Select Expand on the same line as the anomaly check name.
2. Select the new status for the review process of that check.

Next steps

• Standardize your transaction review process across clients by customizing checks and filters within close templates. Changes made to a template apply to all clients using that template going forward.