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.
Create New File and Import Data (update method 2)
The conventional method of updating an engagement file to the new version of the template follows the Staff Update Guide (“update method 1”). However, there is another method available when the standard year-end close and roll forward is not an ...
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 2023 This Major update includes: Enhancements: The new Planning balances feature allows you to record and track interim balances before the year end. You can now upload planning balances for current and prior years, review planning balances ...
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 Cloud Financials - Release Notes
November 2023 Welcome to Caseware Cloud Financials November 2023 release, content version 2.1534. Any changes of the template will only be applicable for new engagements created after the release date of 23 November 2023. Yearly template release We ...