Implement a structured way to request and organize relevant client documents, check the balances of every account, track progress, scrutinize each transaction, and prepare accounting workpapers.
Create a new workpaper, pick the client, and decide on any appropriate intervals—based on your company's guidelines.
Send requests for missing papers directly from the client's workpaper. Respond to your clients, get the necessary documents, and have them subsequently organized and connected.
Examine each workpaper account in detail to get a thorough picture of your client's financial standing. Access balances, compare historical data, and adjust entries.
The workpaper allows for direct adjustments journals and recording; the client's Zoho Books organization will update to reflect the new balances.
Produce a detailed statement with all financial reports, adjustments, and bulk changes after all transactions are confirmed.
Modify the statement template to comply with the company's legal requirements. The document is available for download in PDF or XLS format.
Identify differences between current and historical balances included on the trial balance, balance sheet, and profit and loss financial reports. Gain the advantage to peek into potential risks and discrepancies with alerts for duplicate transactions or odd balance changes.
Accountants can create, generate, and designate tasks to firm members for any client's account reconciliation and verification.
The workpaper's overall view provides a summary of the financial reports' preparation and verification status. Plus, it tracks related tasks, client requests, adjustment journals, and activity history, giving a thorough record of every action taken inside the workpaper.
Receive real-time alerts through the workpaper function for any new transactions logged in clients' books Guarantee any modifications are swiftly reviewed and validated to maintain the integrity of financial records.
Focus your efforts on high-risk areas by using Zoho Practice's advanced algorithms to spot any anomalies and aberrant account behavior.
Zoho Practice enables accountants to securely collaborate with clients and to run peer reviews within their firm during the verification process.
Testimonial
Zoho Practice solves our pain points! It helps assign users to clients' Books, manage communication, and even integrate with existing client software in Zoho. We're excited to see its growth!
Robert Craig
COO, Accountants and Business Advisors, United States
