How to Roll Forward an Engagement File
Note: There is only one correct way to roll forward an engagement file (whether it is an audit or financials file).
1. From the Engagement tab, select Year End Close to display the "Year End Close and Roll Forward" dialog.
2. Press the Browse button within the 'File to be Used for Next Year' area. The 'Open' dialog box will appear.
3. Assign a file path (i.e. if the default path is incorrect), using the Look in pick-list.
4. Enter a File name for next year's engagement file.
5. Press Open to return to the 'Year End Close and Roll Forward' dialog. Your selections should now appear at the top under File Path and File Name.
6. Tick Update prior year balance data under the 'Roll Forward Options'. This option ensures current year balances in this year's engagement file, become prior year balances in next year's engagement file.
7. Tick Update CaseView Roll Forward Cells under the 'Roll Forward Options'. This option ensures all input notes within your Financial Statements (e.g. Contingent Liabilities) or other input cells that have the roll forward option specified, are updated.
8. Click OK to begin the process. The year-end close will now begin. Once it has finished, CaseWare will navigate you to the new rolled-forward engagement file.
Note the following:
- The Year-end close process will keep all documentation within the document manager unless the Roll Forward option was disabled within the document properties. By default, all documents are kept.
- The Year-end close process will clear all issues within the engagement unless the Roll Forward option was selected within the Issue Pane. By default, all documents are cleared.
- (Audit only) The Year-end close process will clear all risks / controls within an engagement file unless the Roll forward option was selected within the Risk / Control dialog. By default risks and controls are cleared.
Other optional controls that can be used during a roll forward
- Compress prior year file: tick this option to run a compression on the engagement file for this year once the new year's file is created.
- Update next year's opening balance data with: this option should only be ticked if transactions are to be recorded in next year's engagement file. If balances are to be imported, leave it unticked.
- Roll Forward Forecasts: Tick this option if you want the next year's forecast amounts in the current file to become the current year forecasts in the new year's file.
- Roll Forward Budgets: Tick this option if you want the current year budget amounts in the current file to become the prior year budgets in the new year's file.
- Roll forward all Custom Balances: Tick this option to roll forward custom balances based on whether the custom balance is set to current/past or current/future.
- Update current year Budgets with Forecast: Tick this option if you want the next year's forecast amounts in the current file to become the current year budget amounts in the new year's file.