Smart Templates (Accountants Content) Release Notes


Content release schedule for 2020


September 2019



Content Release

Smart Workpapers

Job Budget and Fixed Price Agreement – main updates include:

  • Updated formatting.
  • Updated all worksheet to include Addition of reconciliation field to make it easier to view whether an account is out of balance or reconciled. 
  • Additional information to show whether there is data/no data entered the worksheets.

    

    2019 SMSF Workpapers – Connected – Updated index formatting

 

HowNow Online Merge Letter Updates (Content Update 5)

All HowNow Online merge documents have been updated to the latest versions. 

  • Acceptance of Engagement - Ethical Clearance
  • Accounts Preparation Covering
  • Accounts Preparation Engagement
  • ATO Lodgement Reminder
  • ATO Overdue Payment Notice
  • ATO Payment Arrangement
  • BAS Covering (Short Version)
  • BAS Covering with Accountant's Report
  • Company Assessment Notice  (Refund)
  • Company Assessment Notice (Payment)
  • HowNow Online General Merge Letter
  • IAS - Covering
  • Personal ITR - Covering
  • Personal ITR (Amended Assessment)
  • Personal ITR (Multiple Assessment Notices)
  • Personal ITR Assessment Notice  (Nil Amount)
  • Personal ITR Assessment Notice (Payment)
  • Personal ITR Assessment Notice (Refund)
  • Statement of Account
  • Tax Engagement

 

Accountant’s Content (Content Update 239)

All document listed have had formatting, links and document profiles updated where relevant. In addition, all merge 2 equivalent templates have also been updated. Document changes noted below where additional changes have been made:


ATO Correspondence 

  • ABN and TFN Registration Advice Letter
    • Update for various delivery methods
  • ATO Defaulted Payment Arrangement Letter
    • Updated for 4 potential reasons for a default. (Payment not made, Payment less than expected, Payment to wrong account, Future obligations not met)
  • ATO Garnishee Notice Letter
    • Updated to include paragraph explaining what a Garnishee Notice is.
  • ATO Overdue Payment Notice Letter
    • Update grammatical error in letter
    • Income Tax Assessments and Other Statutory Notices


Client Engagement Matters

  • Accounts and Tax Engagement Letter
    • Addition of 'GST exclusive' to fees by hour paragraph;
    • New optional paragraph for reporting referral income in accordance with APES 110
    • Other minor explanations, details and grammatical changes.
  • Tax Engagement Letter
    • Addition of 'GST exclusive' to fees by hour paragraph;
    • New optional paragraph for reporting referral income in accordance with APES 110
    • Inclusion of paragraph for disclosure of intended use and distribution in accordance with APES 305 4.5(b);
    • Other minor explanations, details and grammatical changes.
  • Engagement Letter for Other Assignments
    • Addition of 'GST exclusive' to fees by hour paragraph;
    • New optional paragraph for reporting referral income in accordance with APES 110
    • Inclusion of paragraph for disclosure of intended use and distribution in accordance with APES 305 4.5(b);
    • Other minor explanations, details and grammatical changes.
  • Job Budget and Fixed Price Agreement Smart Workpapers

 

Client Prospects and Proposals

  • Prospects Procedure
  • Proposal Letter for Prospective New Client
  • Clients Gained and Lost and Prospect Conversion
  • Ways for Keeping in Touch with Prospects
    • Updated document formatting and added alternative contact ways for modern technology.


Human Resources

  • HR Policy - Employee Leave
    • Updated for NES entitlements - Family & Domestic Violence Leave
  • HR Policy - Induction, Probation Periods, Flexible Work Arrangements and Types
  • HR Policy - Serious Misconduct
  • WHS - Hazard Register
    • Updated to meet FairWork recommendations
  • Recruitment Procedure
  • Notice to Unsuccessful Applicants
  • Hays Salary Survey
  • Offer of Employment Letter and Standard Terms and Conditions
    • Updated to include NES entitlements for unpaid family & domestic violence leave.
  • New or Change Team Member Details
  • New Team Member IT Set-Up Form
  • Induction Checklist
  • Personnel Records Checklist
  • Probation Period Completion Letter
    • New template with successful and unsuccessful probation period paragraphs
  • Probationary Period Procedure
  • Disciplinary (First) Warning Letter
    • Replacement for ‘Disciplinary Warning letter’
  • Disciplinary (Second or Final) Warning Letter
    • New template
  • Termination of Employment  Serious Misconduct Letter
    • New template
  • Termination of Employment Letter
    • New template
  • Conclusion of Employment Checklist
  • Acceptance of Resignation of Employment Letter
  • Employment Reference Letter


Other Documents

  • Client Portal Merge 2 Letter
    • Updated to include an optional paragraph regarding cloud-based software and data storage locations
  • Debtors - Credit Review Checklist
  • Firm Budget and Cashflow Plan Workpapers
  • Tax Facts and Figures - 20129 
    • Updated for changes to Centrelink rates as at 20 Sept 2019


Quality Assurance & Data Management

  • Overview of Your Firm's Quality Control
    • Updated to include APES GN 31 - Professional and Ethical Considerations relating to Low Doc Offering Sign-offs
  • Quality Control - Checklist
  • QA Policy - Acceptance and Continuance of Client Relationships
  • QA Policy - Ethical Requirements
  • QA Policy - Human Resources
  • QA Policy - Monitoring Quality Control in the Firm
  • QA Policy - Quality Assurance in the Firm
  • Risk Management Framework - Templates
  • Managing Personal Information
    • Reviewed and disclaimer updated
  • Monthly Complaints Monitoring Form
    • Updated formatting and form details
  • Client Categorisation Workpapers
  • Client Files Reviewed – Summary
  • Data Breach Management and Response Plan – Template
    • Reviewed and updated (all links have been updated for new OAIC websites)
  • Privacy Management Plan – Template
    • Reviewed and updated (all links have been updated for new OAIC websites)
  • Management Meetings
  • Strategic Planning - Quarterly Plan
  • Strategic Planning – Questionnaire

August 2019


Content Release

Accountant’s Content (Content Update 238)

  • Single Touch Payroll
  • STP – 12 Month Engagement Authority Letter
  • STP – Finalisation Declaration Authorisation – Annual
  • STP - Finalisation Declaration Authorisation Individual Employee(s)
  • Your Guide to Buying a Business
  • Creating a Business Plan – Guide
  • Purchase of Business Checklist
  • Budget and Cashflow Forecast Checklist
  • Valuation of a Business Workpapers
  • Entity Matrix – Choosing a Business Structure
  • Current Financial Status Workpaper
  • Selling a Business


HowNow Online (Content Update 4)

  • Single Touch Payroll


Smart Workpapers

  • 2019 Capital Gains Tax Workpaper
  • 2019 Loan Repayment Calculator
  • 2020 Company Debit Loan Workpaper


Template Updates

2020 Company Debit Loan Workpapers – main updates include:

  • Updated formatting.
  • Updated index page to include two new auto-fill columns: 
    • Minimum Repayment;
    • Over / (Under) Min. Repayment.
  • Update the following worksheets:
    • Company Debit Loan Checklist – updated interest rates, updated external hyperlinks;
    • Debt and Equity Checklist – updated external hyperlinks;
    • Div. 7a Calculator – updated interest rates;
    • UPE Repayment Calculator – updated interest rates, workpaper functionality minor fixes.

 

Company Shareholder Loan Accounts Procedure - reviewed and updated links to documents.

 

2019 Loan Repayment Calculator - this document has been reviewed and updated.

 

2019 Capital Gains Tax Workpapers – main updates include:

  • Updated formatting.
  • Updated Homepage to include rounding tolerance
  • Updated index to include new feature column for checklists items.
  • Updated the following worksheets:
    • CGT Checklist – update hyperlinks;
    • CGT Event and Cost Base – update hyperlinks;
    • New workpaper – J30 GST Margin Scheme Workpaper – replaced the old GST Margin Scheme Workbook in HowNow. (J30 is also available in Accounts and Tax Workpapers)

 

Single Touch Payroll – letter templates to satisfying ATO requirements.        

  • STP 12 Month Engagement Authority Letter – letter and authority template for a client to provide an agent with authority for a 12-month period from the date of signature to lodge STP pay events on their behalf.
  • STP - Finalisation Declaration Authorisation Annual - letter and authority template for a client to provide an agent with authority to lodge finalisation declarations for all employees at the end of a payroll year.
  • STP - Finalisation Declaration Authorisation Annual - letter and authority template for a client to provide an agent with authority to lodge a finalisation declaration for an employee(s) part way through a payroll year, in the instance of employment ceasing.


Your Guide to Buying a Business - this document has been reviewed and updated with the latest rates, links and statistics.


Creating a Business Plan – Guide – this document has been reviewed and updated with the latest rates, links and statistics.

 

Purchase of Business Checklist – this document has been reviewed and updated with the latest links and formatting.


Budget and Cashflow Forecast Checklist – this document has been reviewed and updated with the latest links and formatting.


Valuation of Business Workpapers – this document has been reviewed and updated with the latest links and formatting.

 

Entity Matrix – Choosing a Business Structure – this document has been reviewed and updated with the latest links and formatting.

 

Current Financial Status Workpapers – this document has been reviewed and updated with the latest links and formatting.


Selling a Business – this document has been reviewed and updated with the latest links and formatting.




July 2019


Content Release

Accountant’s Content (Content Update 237)

  • 2019 SMSF Workpapers
  • SMSF Year End Compliance Procedure
  • SMSF Year End Covering Letter
  • SMSF Engagement Letter & Email
  • 2020 BAS & IAS Workpapers
  • BAS and IAS Preparation Procedure
  • BAS Information Gathering Questionnaire
  • 2020 Calendar of Key Dates
  • 2019 Tax Facts and Figures


Smart Workpapers

  • 2019 SMSF Workpapers
  • 2019 BAS & IAS Workpapers


Compliance Essential (Update 70)

  • 2020 BAS & IAS Workpapers
  • BAS Information Gathering Questionnaire
  • 2019 Tax Facts and Figures


Core Accounting (Update 19)


Template Updates

2019 SMSF Workpapers – main updates include:

  • Updated formatting.
  • Addition of reconciliation field to make it easier to view whether an account is out of balance or reconciled.
  • Additional information to show whether there is data/no data entered into the worksheets.
  • Update the following worksheets:
    • Checklist updates include:
      • Review and update links and rates where applicable.
      • New checklist items for downsizing contributions.
      • New checklist items for LRBA new reporting requirements.
      • Include checklist item for audit preparation: 'Confirmation of an outward rollover from the receiving super fund'.
      • Updated transfer balance cap amounts.
    • Member Contributions workpaper - Updated to include new Y label for LRBA reporting.
    • Contributions workpaper – Updated to include new H & H1 labels for downsizing contributions reporting.


SMSF Year End Compliance Procedure - reviewed and updated links to documents.


SMSF Year End Covering Letter and Merge 2 Letter– added AskData selection criteria for insurance advice. Eligible to be provided by AFSL licensed firms only.

 

SMSF Engagement Letter & Email – updated wording for no AFSL paragraph ‘Use the following paragraphs if the firm is NOT licenced to provide financial advice’.


2020 BAS & IAS Workpapers – main updates include:

  • Updated formatting.
  • Addition of notes/hyperlinks count.
  • Update the following worksheets:
    • Checklist Update rates and links.
    • Fuel Tax Credit workpaper – Updated FTC rates.
    • Luxury Car Tax – Updated LCT rates.


BAS and IAS Preparation Procedure - reviewed and updated links to documents.

 

BAS Information Gathering Questionnaire & Merge 2 - reviewed and updated rates and thresholds for 2020 year.

 

2020 Calendar of Key dates - reviewed and updated due dates and link to web pages.

 

2019 Tax Facts and Figures – main updates include:

  • Reviewed and updated tax rates for the 2019 year.
  • Reviewed and updated Centrelink rates from 1 July 2019.

 

ASIC Forms – updated website link

 

ASIC Lodgement Fees – updated website link


Important LMITO announcement 

Updated LMITO rates in all 2019 workpaper starter files

On Thursday 5 July, the Treasury Laws Amendment Bill 2019 received Royal Assent. As a result, all previously released 2019 workpaper starter files have been updated to reflect the LMITO rate changes. The following workpapers have been updated in the release:

  • 2019 Accounts and Tax Workpapers;
  • 2019 Primary Production Workpapers;
  • 2019 Trust Workpapers;
  • 2019 Personal ITR Workpapers;


Important SMSF Audit announcement 

SMSF Audit Workpapers and Documents 

As previously announced going forward we will not be providing updates to the SMSF Audit content (workpapers and documents) and this area will no longer be part of our content offering. You may continue to use our documents and update them yourself as required. All SMSF Audit documents have been set to 'Inactive' and 'Not Current' in the Knowledge system. To use the templates mark them as 'Document is Active' and assign 'Current Status' in the document profile.



JUNE 2019


Content Release

Accountant’s Content (Content Update 236)

  • 2019 Accounts and Tax Workpapers
  • 2019 Primary Production Workpapers
  • 2019 Trust Smart Workpapers
  • Accounts and Tax Procedure - How We Do It Here


Smart Workpapers

  • 2019 Accounts and Tax Workpapers
  • 2019 Primary Production Workpapers
  • 2019 Trust Smart Workpapers


Compliance Essential (Update 69)

  • 2019 Accounts and Tax Workpapers
  • 2019 Trust Smart Workpapers


Core Accounting (Update 18)

  • 2019 Accounts and Tax Workpapers


Template Updates

2019 Accounts and Tax workpapers – main updates include:

  • Updated formatting.
  • Addition of notes/hyperlinks count.
  • Addition of reconciliation field to make it easier to view whether an account is out of balance or reconciled.
  • Additional information to show whether there is data/no data entered into the worksheets.
  • Update the following worksheets:
    • All Checklists
      • Review and update links and rates where applicable;
    • Checklist Non - SBE;
      • Updated what’s new for 2019 including; annual aggregated turnover increase to $50m, Single Touch Payroll (STP), etc.
    • Checklist – SBE;
      • Updated what’s new for 2019 including; annual aggregated turnover increase to $50m, Immediate deductibility thresholds, etc.
      • Updated SBE instant assets write-off checklist
    • Checklist - Company;
      • Update Continuity of Ownership Test (COT) & similar business test checklist items
      • Update franking account checklist items.
      • Include Single Touch Payroll (STP) checklist items.
    • Checklist – Primary Production;
      • Include fodder storage asset write off checklist items.
      • Tax Rates - updated for the 2019 tax year (where available).
      • Motor Vehicle Rates - updated for the 2019 tax year.
      • Rental Property – added advertising expenses row in agency section


2019 Primary Production Workpapers – main updates include:

  • Updated formatting.
  • Addition of notes/hyperlinks count.
  • Addition of reconciliation field to make it easier to view whether an account is out of balance or reconciled.
  • Additional information to show whether there is data/no data entered into the worksheets.
  • Update the following worksheets:
    • Tax Reconciliation Business Income – remove cash adjustments rows
    • Averaging Worksheet – Updating calculations to include Low and Middle Income Tax Offset (LMITO)


2019 Trust Workpapers – main updates include:

  • Updated formatting.
  • Addition of notes/hyperlinks count.
  • Addition of reconciliation field to make it easier to view whether an account is out of balance or reconciled.
  • Additional information to show whether there is data/no data entered into the worksheets.


How we Do it here Procedure - reviewed and updated links to documents


Important SMSF Audit announcement 

SMSF Audit Workpapers and Documents 

Going forward we will not be providing updates to the SMSF Audit content (workpapers and documents) and this area will no longer be part of our content offering. We will still be providing our SMSF Compliance and documents as normal. SMSF Audit is a complex area and there are now many specialists offering solutions in this area. You may continue to use our documents and update them yourself as required.



May 2019    


Content Release   

Accountant’s Content (Content Update 235)

  • 2019 Personal ITR documents - updated for the 2019 tax year.
  • 2019 Interim Accounts & Tax Workpapers - updated formulas.

Smart Workpapers

  • 2019 Personal ITR Workpapers
  • 2019 Interim Accounts & Tax Workpapers - fixed conditional formatting in Chat cell; added named range to Tax Rates cell D34.

Compliance Essential (Update 68)

  • 2019 Personal ITR Workpapers
  • 2019 Interim Accounts & Tax Workpapers

Core Accounting (Update 17)

  • 2019 Interim Accounts & Tax Workpapers


Template Updates

Personal ITR 2019 Documents - the following documents have been updated:

  • 2019 Personal ITR Workpapers - main updates include:
    • All worksheets - update of formatting.
    • All worksheets - addition of Notes/Hyperlink count.
    • All worksheets - additional information to show whether there is data/no data entered into the worksheets
    • Summary - added Display button to provide layout display options.
    • PAYG Instalment Calculator - Individual - updated GDP uplift factor.
    • Rental Property - added advertising expense to rental statement section.
    • Medical Expenses Offset - updated thresholds for the 2019 tax year.
    • Invalid and Invalid Carer Offset - updated formulas in cells J27, J41.
    • Tax Rates - updated for the 2019 tax year.
    • Motor Vehicle Rates - updated for the 2019 tax year.
  • Personal ITR Procedure - reviewed and updated links to documents. 
  • Personal Income Tax Return - email template in .oft file format.



April 2019 


Accountant’s Content (Content Update 234)

  • 2019 Year End Questionnaires (including Accounts & Tax, Personal ITR, Primary Production and SMSF).
  • 2019 Interim Accounts & Tax Workpapers.
  • Division 293 Tax Assessment Letter (including the merge version).

Smart Workpapers

  • 2019 Interim Accounts & Tax Workpapers - main updates include:
    • Update of formatting.
    • Addition of Checklist Items count on the Index Page.
    • Addition of Checklist Items count to relevant worksheets.
    • Addition of Notes/Hyperlinks count.
    • Addition of Reconciliation field to make it easier to view whether an account is out of balance or reconciled. 
    • Additional information to show whether there is data/no data entered into the worksheets
    • Update to the following worksheets:

                            - Trade Creditors - changes to the layout to allow for new features coming soon

                            - Trade Debtors - changes to the layout to allow for new features coming soon

                            - Wages - changes to the layout to allow for new features coming soon

                            - Payroll Tax - updated for the 2019 rates.

                            - Sales Trading Account - updated value of goods taken for private use for the 2019 tax year (TD 2019/2).

                            - Tax Rates - updated for the 2019 tax year (where available).

                            - Motor Vehicle Rates - updated for the 2019 tax year.

Compliance Essential (Update 67)

  • 2019 Year End Questionnaires (Accounts & Tax, Personal ITR)
  • 2019 Interim Accounts & Tax Workpapers

Core Accounting (Update 16)

  • 2019 Year End Questionnaire (Accounts & Tax)
  • 2019 Interim Accounts & Tax Workpapers

March 2019 


Accountant’s Content (Content Update 233)

  • Salary Sacrifice 2020 documents – including the checklists and workpapers.

Smart Workpapers

  • 2020 Salary Sacrifice Workpapers.
  • Worksheet J10 BAS Monthly in Accounts & Tax Workpapers - fixed formula in cell H103.
  • Various templates in the Accounts & Tax Workpapers have been updated to facilitate the new upcoming features in Connected Workpapers. To view the full list of updated templates click here.

Salary Sacrifice 2020 Documents - the following documents have been updated:

  • 2020 Salary Sacrifice Workpapers - main updates include:
    • All worksheets – added Reviewed and Partner Approved in status cell.
    • Checklist – has been reviewed and updated for the 2020 tax year.
    • Tax Rates – updated rates for the 2019/20 tax year (where available).





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