Workpaper

A workpaper is a document that accountants use to gather, organize, and analyze financial information. It records the data used to prepare financial statements and ensures that the financial reports are accurate and comply with accounting standards.

Zoho Practice allows you to create workpapers to organize your client’s financial data by associating tasks, client requests, and journals to the line accounts.

Create a Workpaper

To create a work paper in Zoho Practice:

Go to Workpaper on the left sidebar.
Click + New in the top right corner of the screen.
In the New Workpaper pop-up, enter the required details.

Fields	Description
Workpaper Name	Enter a name for the workpaper.
Client	Select the client you want to associate with the workpaper.
Accounting Method	Select the accounting method for the workpaper. Accrual Basis: Revenue and expenses are recorded even if the cash hasn’t been received or paid. Cash Basis: Revenue and expenses are recorded only when the cash is received or paid.
Date Range	Details on the action performed along with the name of the user.

Click Save.

The workpaper will be created.

Overview Tab

The Overview tab displays all reports, tasks, client requests, and adjustment journals associated with the workpaper. It includes the following sections:

Trial Balance: This section displays the details of the accounts in the trial balance report.
- Prepared: It shows the number of accounts marked as prepared.
- Not Prepared: It shows the number of accounts that are not prepared.
- Verified: It shows the number of accounts marked as verified. Note that only prepared accounts can be marked as verified.

You can also view similar details in the Balance Sheet and Profit and Loss report sections.

Tasks: It displays the tasks and sub-tasks that are associated with the workpaper. These tasks are created in the Book Review tab for individual line accounts.
Client Requests It displays the client requests that are associated with the workpaper. These client requests are created in the Book Review tab for individual line accounts.
Adjustment Journals It displays the list of journals that are created for adjustments in the Book Review tab. Note that the journals in the Published state will only be displayed in this section.

Documents Tab

The Documents tab displays the list of files that are associated with the workpaper.

To attach files to a workpaper:

Go to Workpaper on the left sidebar.
Select the workpaper for which you want to attach files.
Navigate to the Documents tab.
Slide the Attachments toggle in the top right corner.
Click Upload File.

The file will be uploaded to the workpaper.

You can also create folders under the Documents tab. To do this:

Slide the Folders toggle in the top right corner.
Click + New Folder.
In the pop-up that appears, enter the Folder Name.
Click Save.

You can now upload files to this folder.

Functions in Documents Tab

There is a list of functions that can be performed in the Documents tab:

Delete File
Edit Folder
Delete Folder

Delete File

To delete a file in the Documents tab:

Hover over the required file, click the More icon and select Delete from the dropdown.
In the pop-up that appears, click Delete to confirm.

The file will be deleted. Similarly, you can delete the files you’ve stored inside a folder.

Edit Folder

To edit a folder:

Select the folder you want to edit.
Click the More icon in the top right corner and select Edit from the dropdown.
In the pop-up that appears, make the necessary changes and click Save.

Delete Folder

To delete a folder:

Select the folder you want to delete.
Click the More icon in the top right corner and select Delete from the dropdown.
In the pop-up that appears, click Delete to confirm.

The folder will be deleted.

Book Review Tab

This tab displays the list of accounts and its transactions associated with the reports of the client’s accounting application. These reports include:

Trial Balance
Balance Sheet
Profit and Loss

Functions in Book Review Tab

There is a list of actions that can be performed in the Book Review tab:

Mark as Prepared
Mark as Verified
Attach Files
Add Comments
Create Task
Create Client Request
Add New Journal
Import Journal

Mark as Prepared

When you prepare financial statements for your organization, you can review your line accounts and their associated transactions and journals for a specific date range. If the financial documents are accurate, you can mark the line accounts as Prepared.

To do this, check the Unprepared box next to the line account if you’ve prepared it. Once the line account is marked as Prepared, it will be updated in the Activity History section of the Overview tab.

Mark as Verified

Once you mark a line account as prepared, you can validate it, either by yourself, or with the help of another accountant and mark the line account as Verified.

To do this, check the Unverified box next to the line account if you’ve verified it. Once the line account is verified, it will be updated in the Activity History section of the Overview tab.

Note: You can mark a line account as verified only when it is marked as prepared.

Attach Files

You can attach relevant documents to your line accounts which ensures accuracy, provides audit evidence, and makes important information easily accessible.

To attach files to a line account:

In the Book Review tab, select the report in the top left corner for which you want to attach files to a line account.
Click the Attach icon near the required line account.
In the Attachments pop-up, click Upload your Files and select the required file you want to attach.

Note: You can attach a maximum of five files, with 10 MB each.

Add Comments

You can also add comments to your line accounts for internal use.

To add comments for your line account:

In the Book Review tab, select the report in the top left corner for which you want to add comments to a line account.
Hover over the required line account and click the Comments icon.
In the Comments pane, enter the required comment and click Add Comment.

You can view these comments in the Activity History section of the Overview tab.

Create Task

You can create and associate tasks to a line account to track and manage specific entries related to that account.

To create a task for a line account:

In the Book Review tab, select the report in the top left corner for which you want to create a task and associate it with a line account.
Hover over the required line account, click the More icon, and select Tasks from the dropdown.
In the Associated Tasks pane, click + New in the top right corner.
In the New Task pop-up, enter the required details.
Click Save.

You can view this task in the Tasks section of the Overview tab. You can also create a sub-task for the task associated with a line account.

You can also view the tasks and sub-tasks in the Tasks module.

Create Client Request

You can create and associate client requests with a line account to address specific inquiries related to that account. This ensures that client requests are handled accurately.

To create a client request for a line account:

In the Book Review tab, select the report in the top left corner for which you want to create a client request and associate it with a line account.
Hover over the required line account, click the More icon, and select Client Requests from the dropdown.
Click + New in the Associated Client Requests pane.
In the New Client Request pop-up, enter the required details.
Click Save.

You can view the client request in the Client Requests section of the Overview tab, and also in the Client Requests module.

Add New Journal

When there is a mismatch in the balances of a line account, you can add an adjustment journal to ensure the records are accurate. This helps businesses maintain accuracy and comply with standards.

To add an adjustment journal:

In the Book Review tab, select the report in the top left corner for which you want to create a journal.
Click Add New Journal in the top right corner.
In the New Journal page, enter the required details and click Save.

You can add an adjustment journal by:

Hover over the required line account, click the More icon near the respective line account, and select Add New Journal from the drodpown.
In the New Journal page, enter the required details and click Save.

The journal will be displayed in the Adjustment Journals section of the Overview tab.

Import Journal

To import journals:

In the Book Review tab, click Import at the top of the report.
In the Import pop-up, select the report for which you want to import the journal.
Click Continue.
In the following page, click Choose File and upload the required files.
Click Next.
Ensure that all the fields are mapped correctly in the Map Fields page.
Click Next.
In the Preview page, click Import.

The imported journal will be added as a line account to the respective report.

Statements Tab

The Statements tab displays the Trial balance, Balance Sheet, and the Profit and Loss reports of your clients on the same page. You can either print the statement page, or download it in PDF or XLS formats.

To print the workpaper statment:

Go to Workpaper on the left sidebar.
Select the workpaper that you want to print.
Navigate to the Statements tab.
Click the Print icon at the top of the Statements page.
In the pop-up that appears, preview the document.
Click Print in the top right corner.

To download the workpaper:

Go to Workpaper on the left sidebar.
Select the workpaper that you want to download.
Navigate to the Statements tab.
Click the PDF icon at the top of the workpaper page to download it as PDF, or click the XLS icon to download the workpaper in the XLS format.

The workpaper will now be downloaded in the respective format.

Other Actions

There is a list of actions that can be performed on the workpaper you create in Zoho Practice:

Edit Workpaper
Refresh Workpaper
Delete Workpaper

Edit Workpaper

To edit a workpaper:

Go to Workpaper on the left sidebar.
Select the workpaper you want to edit.
Click Edit in the top right corner.
In the Edit Workpaper pop-up, make the necessary changes.
Click Save.

Refresh Workpaper

The workpaper contains a list of accounts synced from your accounting application. Any changes made in the accounting application will automatically sync and update in Zoho Practice. You can also refresh the workpaper to manually sync the data from your accounting application and view the latest details in Zoho Practice.

To refresh a workpaper:

Go to Workpaper on the left sidebar.
Select the workpaper you want to refresh.
Click the More icon in the top right corner and select Refresh from the dropdown.

The workpaper will now be updated.

Delete Workpaper

To delete a workpaper:

Go to Workpaper on the left sidebar.
Select the workpaper you want to delete.
Click the More icon in the top right corner and select Delete from the dropdown.
In the pop-up that appears, click Delete to confirm.

The workpaper will be deleted.