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Using WorkPapers Groupings & statements

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

Groupings & savings 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

1. Log in to the QuickBooks Online Accountant company.

2. Select the briefcase icon.

3. Select the Workpapers option under the Accountant Tools menu:


4. Select the tax year review (for example, 2018).

5. Select Groupings & savings:


The trial balance details display.

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.

The Create a new group menu displays:


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. Click the Save button when complete.

Users have the ability to delete or modify the attached file. Select the icon as indicated below and apply the option of “Delete” or “download” to the file:


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 accounts are added to the group.

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

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

  • Notice to Reader (NTR)
  • Balance Sheet
  • Simplified Income Statement

Select the export icon in the top-right corner:


The report exports to an Excel sheet with designated tabs:


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