Financial Excel (Independent Review) Template
This template includes everything needed for an independent review, with additional sections for tax and reconciliation.
Feature Description & Benefit
- Business Details & Financial Settings – Edit business details and customize financial settings.
- Chart of Accounts – Edit and rename accounts for flexible reporting.
- Opening & Current Trial Balances – Update trial balances to ensure accurate financial records.
- Automatic Financials – Automatically generate financial statements for independent review.
- Tax Computation – Easily edit and update tax calculations.
- Working Paper – Reconciliation – Automatic entries for assets, liabilities, income, and expenses for full reconciliation and review.
- Final Review Includes final review entries for various financial elements like loans, assets, liabilities, and more.
- Letter Templates – Automatically generate necessary documents like engagement letters, AFS checklists, and AGM minutes.
Watch our video
Video 1
Video 2
Customizing Account Settings
Learn how to tailor your accounts to fit your specific needs:
- Rename accounts: Update descriptions, such as changing ‘Loan – Director’ to ‘Loan – Ms B Naicker’
- Change categories: Reassign accounts from one category to another, for example, moving an account from ‘Non-current assets’ to ‘Current Assets’
Video 3
Refining Account Classifications
Take your account customization to the next level:
- Rename accounts: Enhance descriptions, such as updating ‘List of separate Salaries’ to ‘Linked to Salaries and Wages’
- Change categories: Refine account groupings, for example, reclassifying an account from ‘Operating Expenses’ to ‘Administration Expenses’
Video 4
Working Papers for Review Purposes
This video explains how to efficiently prepare and organize working papers for review:
- Documenting and tracking for examples:
- Bank statement reconciliations
- Review comments and notes
- Adjustments and corrections
- Best practices for review procedures, including:
- Sample letters for confirmation and communication
- Comprehensive checklists for review procedures
Get expert insights on streamlining your review process.