Year-end close vs new file based on existing/Client data

Year-end close vs new file based on existing/Client data

Performing a Year-end close

After completing the financial year, Working Papers provide a means to close a file to the next year. Working Papers rolls forward the current file’s closing balance to create the opening balance for the new file.

If a year-end close is performed, you must update the engagement file.

Note: Performing a year-end close does not update your engagement file to the latest version. You will need to update the engagement file after performing the year-end close.

New file based on existing/client data

Creating new file based on existing data will contain copies of all GL entries, the trial balance, risks, controls, reportable items, consolidation structure, Other Entries journal types, company and contact inform, dates and reporting periods, tax entity and jurisdiction and payroll templates.

Note: Creating new files based on existing data will base the file on the latest version you have installed. No updates are required for the file.



    • Related Articles

    • Create New File based off Existing for purposes of Roll Forward

      When the standard year-end close and roll forward is not an option, users can create a new file based off an existing/ prior year file and opt to roll forward into a new year. Step One:  Within Working Papers: File > New > Based on template > Create ...
    • How to Roll Forward an Engagement File

      Note: There is only one correct way to roll forward an engagement file (whether it is an audit or financials file). 1. From the Engagement tab, select Year End Close to display the "Year End Close and Roll Forward" dialog.  2. Press the Browse button ...
    • What's New in Agile Audit?

      November 2021 ​   We are pleased to announce the release of CaseWare Agile Audit's November 2021 template update.    This update is key. It is important to ensure you read all the instructions and follow the processes described. Please contact our ...
    • Aligning a Cloud engagement Year End date with CaseWare Working Papers.

      CloudBridge will align the Year Start Date and Year End Date with the CaseWare Working Papers Year End Data and Year Beginning Date if the dates are not aligned. Before first data transfer: After first data transfer
    • What’s New in Xtend

      We are pleased to announce the release of CaseWare Xtend’s May 2021 template update. This update is key. It is important to ensure you read all the instructions and follow the processes described. Please contact our Customer Service team (+61 3 9660 ...