- Firm Set Up
- Review Firm Roles and Permissions
- Enter Staff and Assign Roles
- Enter Client and Administrator Details
- File Set Up
- Create a New file
- Upload Trial Balance
- File Compilation
- Upload and reference Supporting Documents to your file
- File Compilation
- Client Portal
The purpose of this help guide is to walk you through the steps required to complete your first Year End | SMSF file using MyWorkpapers. MyWorkpapers is designed to be simple, efficient, and intuitive, and there are just a few easy-to-follow steps to get you underway.
There are three stages to completing your first file in MyWorkpapers. These stages are:
1. Firm set up
2. File set up
3. File compilation
Within each of these stages there are a number of steps.
MyWorkpapers is designed to be a collaborative tool for both the Fund Administrator (accountant) and the trustee, and we provide guidance throughout this document to indicate the most appropriate person to perform each task, along with explanatory notes.
Firm Set Up
Before you create your first file, there are a number of setup tasks that must be completed. They don't take long and once completed you are ready to start creating, populating and completing your Year End | SMSF files.
Review Firm Roles and Permissions
Roles and Permissions control which functions you can access, View and edit, permissions are assigned to a role, them roles are assigned to users. Determine which of the standard roles that apply to your firm and edit the permissions for those roles. For detailed instructions on Roles and Permissions, Click Here
Tips and Tricks: To change permissions for a role, click on the Edit tab within Roles and Permissions. If you cannot perform a function in a file, check your Role and Permissions.
Enter Staff and Assign Roles
Staff List is where you setup Staff as users, set their password and assign them a role. Their password will be emailed to them. Once chosen, email addresses cannot be amended. For detailed instructions on adding staff, Click here
Tips and Tricks: MyWorkpapers will generate a random password, or you can enter your own. On first login, new staff should change their password to something they will remember. To change your password, click on your name in the ribbon and select My Profile . You can suspend or delete staff members. you can assign them a new role.
Enter Client and Administrator Details
Clients can be accessed from the My Files Menu.
SMSF clients can be directly imported from Class, SimpleFund360 or SuperMate. For detailed instructions on importing and managing Clients from Class, SimpleFund360 or SuperMate, Click here
Clients not administered on the software detailed above can be created manually. For detailed instructions on manually creating and managing Clients, Click here. Note to select trustee from the Client Type dropdown Box on the business details tab. This will display the SMSF specific tabs, where you can record fund member nd trustee details.
Note: Every file you create requires both a client (fund) and a client user (trustee)
Tips and Tricks: You can set the default the template, as well as the default audit team on the on the Defaults tab. All the data you enter into Client Details is available within MyWorkpapers standard letters and reports as data fields that will automatically populate. When you create a new audit file, you can create a new client "on the fly" and add details.
Client Users (Trustees) need to be added to the Clients' profile for access to the Client Portal. Once the client has been directly imported from administration software or manually created the Client Users Tab should appear. For more information on creating logins for your trustees, Click here
With these steps complete, you are ready to create a new file.
File Set Up
Having completed the Firm set up tasks, you are ready and populate your first file.
Create a New file
To create a new file,
- from the My Files menu, Select New File.
- Select the relevant file template(Year End SMSF 1.0)
- Enter the Fund (client) Name.
- Select the period
- Check the Box, click Create New File
Your new file, comprising a working Paper Index, workflow diagram and Trial balance is now created and is ready to be populated. The next step is to be upload the fund Trial Balance.
For detailed instructions on creating a new file, Click Here
Import Trial Balance
You can import trial balance details via one of our integrations or CSV import.
Having opened your new audit file, from the File menu select Connect and Import.
Importing via Integration
MyWorkpapers integrates with the following SMSF partners:
- BGL Simple Fund 360
- Class Super
Note: These do not need any setup and can be accessed directly from the trial balance. However, if you wish to reset your logins.
Select your required connect or import option and follow the fund import steps to import the trial balance. Importing the trial balance automatically populates the working trial balance within your audit file, as well as creating and populating lead schedules and lead schedule summaries.
Tips and Tricks: The trial balance import screen contains "How to" guidance to assist you with trial balance import. Importing the trial balance creates and populates relevant financial folders and lead schedules. You can also re-import the trial balance if required, without affecting work that has already been completed in your audit file.
Importing via CSV
If you are using a CSV file import please click here. Your trial balance file should contain account code, account description, debit and credit columns, along with appropriate column headings.
The first time a new Accounting Structure (i.e. Profit & Loss and Balance Sheet view) is used it will require you to map the trial balance. To learn how to map the trial balance click here. This Mapping can then be saved and used to auto-map CSV's from there on. To learn about Accounting Structures and mapping Trial Balance click here.
Activate the Customiser
Once the Trial balance has been uploaded, answer the Customiser questions to populate the procedures. For more information, Click here
Upload and reference Supporting Documents to your file
Uploading and referencing supporting documents into MyWorkpapers is very easy. Simply select a file from a folder on your computer or server and drag it Into your audit file, Documents can be dragged directly into lead schedules or into folders in your working paper index. For detailed instructions on uploading supporting documents, Click Here
Tips and Tricks: Documents dragged directly into a lead schedule will be automatically referenced and copied to the relevant folder. Document references are automatically hyperlinked an can be opened by clicking on the reference. A range of document types can be uploaded, including pdf, docx, xlsx, as well as text and image files. Multiple references can be entered into a lead schedule, including page references for large pdf documents.
Complete the Workpapers including the Planning Programme and Permanent Files Programme.
Tips and Tricks: Use the workflow diagram to guide you through your workpaper completion. Remember that when a workpaper is marked as "Complete", changes cannot be made to it. Click on the pencil in the "Reference" column to enter references. Click in the "Comments" column to enter comments in the comments box . Create review points as you go, by clicking on "Review points" on the top menu, or at the bottom of the workpaper.
Use the Client Portal to correspond with the Trustee - raise queries, and attach or request documents. Advised the Trustee that queries are available via the Notify at the bottom of the Workpaper. The Trustee can Login to the Portal, respond to queries and upload documents for the administrator. For detailed instructions on using the Client Portal, Click here
Tips and Tricks: Documents can be dragged and dropped into the client portal by the trustee. The trustee logs into the portal to view and respond to queries. For additional information on the Client Portal for Trustees, Click here