MyWorkpapers is pleased to announce the following updates made on our platform.

What's New

Custom Statuses

Status Profiles

Customise the statuses and sign-offs for your industry templates without creating custom firm templates. Status Profiles give you the flexibility to tailor your workflow while maintaining the benefits of industry template updates.

Key capabilities:

• Create and manage Status Profiles from the new Status Profiles tab in Manage Templates
• Assign a Status Profile to any industry template to customise its statuses and sign-offs
• Edit statuses and sign-offs for each profile independently
• Archive or delete profiles you no longer need
• New files automatically use the Status Profile assigned to their industry template

Assign File via Status Update

Save time by updating the file assignee at the same time as changing a workpaper status. When enabled for a status, you can select a team member to assign the file to in a single action.Data 

AnalyticsAdvanced Risk Scoring

Gain deeper insight into your audit risks with the new Advanced Risk Scoring feature. This optional feature adds Likelihood and Magnitude scoring to your risk assessments.

Key capabilities

• Score risks using Likelihood (1-5) and Magnitude (1-5) ratings
• View calculated Risk Score and overall Risk Level
• Filter risks by Likelihood, Magnitude, and Level on the Risks page
• Visualise your risk profile with the new Risk Matrix showing risk distribution
• Enable or disable the feature at firm level in Firm Settings

Flow Analysis for General Ledger

Analyse transaction flows between accounts with the new Flow Analysis graph on the General Ledger page. This visual tool helps you identify patterns and relationships in your accounting data.

Key capabilities

• View a Sankey diagram showing transaction flows between accounts
• Click on account flows to filter the GL transactions table
• Group transactions by journal entry for easier analysis
• Access Flow Analysis from the General Ledger page menu

Improvements

Dual Codes

• Improved handling of dual account codes in General Ledger transactions, now displaying both accounts production and bookkeeping codes
• Added a warning message on Trial Balance when dual code accounts are unmapped
• Enhanced error handling when GL transactions cannot be matched to Trial Balance accounts

General Ledger

• Improved handling of journals with zero balances when importing from Xero

User Interface

• Improved dropdown positioning in Manage Templates to appear directly under the select button
• Improved file template dropdown in Workflow Manager to prevent horizontal scrolling

Bug Fixes

• Resolved an issue where the Account Disclosure Checklist Summary displayed incorrect years for certain year-end dates
• Resolved an issue where Copy from Prior Year was not working correctly for WFTB templates
• Resolved an issue where archived files were not displaying conclusions for workpapers
• Resolved an issue in the Conclusion section of certain templates where content was not displaying correctly
• Resolved an issue where rolling forward files using certain Payroll templates created files without workpapers
• Resolved an issue where PDF reference boxes could not be resized after changing the font size
• Resolved an issue in SMSF Audit templates where report fields could not be removed from the Completion section (AU Only)
• Resolved an issue where Planning Lockdown was not activating correctly when planning folders were completed individually