Rolling Forward Your Files
Once you have completed your current years file, you may want to start prepare the following years file. On MyWorkpapers, you are able to roll the current years template forward, ready for the following period.
MyWorkpapers can automate this process, giving you the ability to copy work completed from the previous files, update the to the latest content, and ensure financial data is correct for the comparative periods.
The system offers flexibility on how you wish to prepare the following years file. Giving you the option to copy as much of the prior year’s file as needed.
Below we will now guide you through the roll forward process.
To Roll forward you file, select Roll Forward from the My Files drop down menu;
The Roll-Forward Wizard
1. The first thing you need to do is enter the client name for whom you wish to roll the file forward for.
The Prior Period, File Template and New File Period will prefill based on the details of this file. You can amend any details should you wish to.
Click Next to continue to the next stage;
2. In step 2, you will be deciding what documents from the prior file you wish to bring forward. We usually advise that during this step, you only select documents in which you want to bring the data attached to it forward. You do not need to select any documents due to wanting fresh copies, as this is what will be done in the next step. Please look to only select documents in which you want to roll-forward due to the information currently on them. For example supporting document or workpapers with comments attached.
- Please be advised that the Customiser and its associated workpapers can only be rolled forward together.
- If you select “Roll Forward Customiser” from this step, you will not receive any content updates, if any have been released since the prior year file was created.
- Should you wish to roll forward Review Points workpapers, you will also need to Select the Roll-forward Review Points data
- There is no need to roll forward Lead Schedules or Summaries, as financials will be rolled forward automatically.
Click next to continue.
(Note: All active Risks and backing workpapers in relation to your risks will automatically be rolled forward. If you do not require the risks or backing workpaper, you will can remove or archive these once your rolled forward file has been created. Archived risks will not be rolled-forward. You can find out more information on archiving risks here)
3. In this section you will now finish compiling the rolled forward file. In theory, we will now be filling the gaps with the missing workpapers. So for example, if you did not bring through the A32 from step 2, because you wanted a fresh copy for the new year, this step will ensure this is now added.
Using the checkboxes available. You can now manually select the missing information or tick “Select all folders and associated workpapers”
Ensuring that “Roll-Forward Customiser” is ticked, will make sure the latest version is brought forward.
4. Your file has now rolled forward successfully. Your prior year financials will now be moved to prior year section of the trial balance and selected workpapers. This has been done automatically.