Creating a workpaper in Cimplico Workpapers involves setting up essential details such as the entity, trial balance configuration, reporting period, and roles. This guide walks you through the process step-by-step, highlighting key considerations and best practices.
ℹ️ Note: Ensure the entity you are creating the workpaper for has already been set up in the system. For guidance, refer to the Entity and Group Management article collection.
Step 1: Navigate to the New Workpaper button
A workpaper can be created from:
The firm-wide Workpapers list (accessible via the main header).
The Group Overview screen for the relevant group.
The Entity Overview screen for the relevant entity.
In any of these locations, click the New Workpaper button.
ℹ️ Note: Regardless of where you create the new workpaper from, it will be saved in the same location and accessible from the group, entity, or firm-wide Workpapers list.
Step 2: Enter entity and trial balance details
On the first screen, select the Entity for the workpaper from the dropdown list.
In the Trial Balance (TB) section, select whether the workpaper will use a Trial Balance
If toggled on, configure the following:
Accounting Basis: Choose between Accrual or Cash.
Trial Balance Source: Select Xero or Import.
If using Import, upload a CSV by dragging and dropping the file. You can find the CSV requirements here.
If using Xero, the trial balance will authenticate via your connected account.
Click Next to proceed to the next step.
💡 Tip:
When to Use a Trial Balance: Most annual compliance jobs will require a trial balance, as they involve verifying and supporting items in the trial balance to prepare financial statements. If your workpaper doesn’t require trial balance verification, you may not need to enable the trial balance feature.
Choosing the Trial Balance Source: If your trial balance data is in Xero, connect directly for efficiency. This avoids the need for manual uploads. If not, use the Import option to upload a CSV file.
Step 3: Specify key workpaper details
On the second screen, provide the following details:
Workpaper Period End Date: Specify the end of the reporting period.
Workpaper Due Date: Enter the date the workpaper is due.
Workpaper Name: Enter a descriptive name following your firm’s naming conventions.
Procedure Template: Select the applicable procedure template.
Checklist: Choose a checklist to guide the workpaper process.
Calculation Worksheets: Attach any required calculation worksheets (optional)
Materiality Limit: Specify any relevant thresholds for materiality (optional). You can learn more about materiality limits here.
Click Next to continue.
ℹ️ Note: All of the above settings can be changed later by the workpaper approver or firm administrator if necessary.
💡 Tip: Use a consistent naming convention for workpapers across your firm. For example, standardising names like “2023 Annual Compliance” instead of variations such as “2023 Accounts” or “Annual Compliance for 2023” makes it easier to identify and manage workpapers.
Step 4: Assign roles and configure access settings
On the third screen, assign users to the following roles:
Preparer: Responsible for completing the workpaper (optional)
Reviewer: Responsible for reviewing the workpaper (optional)
Approver: Responsible for final approval (mandatory)
For more information about workpaper roles, refer to the Workpaper Roles Explained article.
Configure access control settings:
Private Workpaper: Toggle this option to make the workpaper private.
Post Journals: Toggle this option to allow preparers to post journals.
Step 5: Create the workpaper
Once all details are completed, click Create Workpaper.
The new workpaper will appear in the Workpapers list, ready for further action.