Workpapers available in Client Accounting

Standard template

A basic workpaper used for consistent formatting, calculations, and referencing across all account codes where a purpose-built workpapers doesn’t exist.

Entity information

Use this workpaper to add all the details for the client to populate the financial statements.

Accruals - deferred income

Use this workpaper record and allocate incurred but unpaid expenses or earned but unpaid income over their applicable periods. This will then accurately show the timing of expenses recorded and comply with accrual accounting principles in the Financial reports.

Bank loans

Use this workpaper to track and reconcile bank accounts. In the Current Liability Estimation Calculator, you can calculate the monthly interest, principal and add manual adjustments for extra or changed payments

Bank loan summary workpaper

Use this workpaper to see a summary of all bank loan liabilities. Can only be used if Bank loans workpaper is used.

Bank reconciliation

Use this workpaper to reconcile the actual bank balance against the ledger balance.

BAS summary

Use this workpaper to keep a monthly schedule of the GST paid and GST received for BAS

Dividends received

Use this workpaper to reconcile dividend income for the financial year with revenue account balance.

Division 7A

Use this workpaper to identify and analyse loans or payments made to shareholders or associates that may be treated as unfranked dividends under Division 7A of the Income Tax Assessment Act.

Entertainment expenses

Use this non-deductible workpaper to view a summary of all entertainment expenses. You can also add specific accounts to line iteams and add any relevant additional information.

Fines and Penalties

Works similarly to the Non-deductible and automatically defaults non-deductible expenses to 100%

Fixed assets

Use this workpaper to summarise the fixed assets and reconcile the depreciation amounts.

Franking assets
(Companies only)

Use this workpaper to record of the movement in the franking accounting, including the date, description and franking debit or credit. For record keeping and tax purposes.

GST BAS reconciliation

Use this workpaper to reconcile GST paid and GST collected against BAS

GST reconciliation

Use this workpaper to reconcile the amount of GST paid and outstanding with the outstanding liability in the accounts.

Hire purchase

Use this workpaper to get a consolidated view of all hire purchase agreements for the year, supporting asset and liability reconciliation.

Income allocation
(Trusts & Partnerships only)

Use this workpaper when creating financial reports for Partnerships, Trusts and Sole Traders.

Income tax expense
(Companies only)

Use this workpaper to calculate taxable income by applying adjustments to Net profit/(loss) from the Income statement.

Income tax payable or refundable
Companies only

Use this workpapers to help verify the balance in the Income tax payable (liability) or Income tax refundable (asset) account in the balance sheet.

Intercompany loans

Use this workpaper to check inter-entity loans and other balances within a group to make sure they match.

Interest expense

Use this workpaper to enter the details of interest expenses incurred on loans and other borrowings, supporting deductibility and cash flow analysis.

Interest received

Use this workpaper to reconcile the interest income and withholding tax, including the withholding tax percentage.

Inventories

Use this workpaper to track and reconcile inventory balances.

Motor vehicle expense

Use this workpaper to select the accounts as line items and summarise the motor vehicle accounts.

Non-deductible expense

Companies and Trusts

Use this workpaper automatically track the non-deductible expenses for income tax reconciliation. Enter the amount as a percentage or dollar amounts, and it automatically calculates the deductible vs non-deductible portions

Prepaid borrowing expenses workpaper

Use this workpaper to calculate amortisation of borrowing expenses over a period of up to 5 years.

Prepayments

Use this to enter reconciliation, allocation, and documentation of prepaid expenses across reporting periods.

Term deposits

Use this workpaper to reconcile ledger balances to bank statements and calculate accrued interest, with journal posting functionality.

Trade creditors

Use this workpaper to substantiate the trade creditors account, including other payables, during the year

Travel expenses

Use this workpaper to reconcile more than one travel expense.

Trade debtors

Use this workpaper to substantiate the trade debtors account, including any doubtful or bad debts written off during the year

Wages reconciliation

Use this workpaper to include gross wages (W1) and PAYG withholding (W2) from the BAS Summary. Complete the BAS Summary first to populate W1/W2, then use the workpaper to reconcile against your payroll records and account balances