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QuickBooks workpapers. Is it any good?

There seem to be some basic errors in workpapers or is it misunderstood by me?

Didn't find your answer?

So a financial year runs from xx/xx/2021 to xx/xx/2022

In QB WP it shows the correct financial year but the heading says Taxyear and will only show up to 2021. Support explained this because they use calendar year as a tax year. Totally ignoring UK taxyear dates.

But because its taxyear the column headings are tax year and prior year so will show 2021 (current) and 2020 (Prior year). In my view stupid as all your workpaper reports are now showing those two years when you should be showing 2022 (Current) and 2021 (Prior)

Then if you click statutory accounts the front page has the correct xx/xx/2022 as the financial year but all subsequent pages with data columns show 2021 and 2020. Totally incorrect.

Support struggled to understand as they kept hammering tax year being the calendar year.

So unless I have missed something the question is, is this a flawed product?

Keen to hear views.

 

 

 

Replies (3)

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Scalloway Castle
By scalloway
22nd Apr 2022 08:38

This product is probably aimed at the US market, where the tax year ends on 31 December.

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AS
By AS
22nd Apr 2022 11:20

The permissions are flawed so we could not make use of it.

A bookkeeper set up QBO for a group of companies as the accountant. We were then given accountant level access as the auditors so that we can use the work papers for our audit work. QBO's permissions mean that we could not access any working papers prepared by the bookkeeper making the product useless.

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avatar
By frankfx
22nd Apr 2022 13:07

FAO Tom Herbert,
AWeb... Technology Editor.

Can you offer insight.

The instance of the auditor not having permissions is an example of expectations not being met..

Who has the time And patience to discover precisely what the module can achieve, when QB staff struggle

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