File Maintenance
Working Papers has several features to maintain your client files, ensuring that your documents are clean, accurate, up-to-date, and comply with governing standards. The four file maintenance features include:
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Cleanup
Remove sensitive information within your client file.
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Lockdown
Comply with established standards governing the documentation that an auditor should prepare and retain using the Lockdown feature. Lockdown creates a milestone or snapshot of the file at the time the file is locked down.
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Maintenance
Keep client files organized and well-maintained using various maintenance procedures.
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Year End Close
Close a file to the next year, rolling forward the current file's closing balances to create opening balances for the new file.
Cleanup
The Cleanup feature in Working Papers allows you to simply and efficiently remove documents, issues, history, milestones, and annotations from a client file. A Cleanup is usually performed before a lockdown and year-end close.
Lockdown
Lockdown allows you to comply with the established standards governing the documentation an auditor should prepare and retain in connection with engagements such as audit of financial statements, audit of internal controls over financial reporting and reviews of interim financial information.
Maintenance
You can choose the maintenance features that you want to use in your client file. The maintenance features use the Maintenance Wizard and the Repair File, Diagnostics, and Back Up commands. Each of these provide you with different options for maintaining your file ensuring that your client file is clean, error free, and up to date.
Year End Close
After completing the fiscal year, you have the option to close your file to the next year using the Year End Close feature. When you close a file, Working Papers creates a brand new file and rolls forward the balances from the previous year's file.