Get started setting up Workflow Templates

BOOKMARK THIS PAGE: More workflow templates will be posted in future!

This guide is to help provide you with some ideas on how to set up Workflow Templates for different types of jobs to be done. We have listed the jobs and then explain which checks to include and the reasons to add those checks to the workflow.

What you need to know:

Some of these checks will be specific to the regions we operate in which we have noted next to each check. (UK, AUS & NA)
Review our help article on Creating Workflow Templates before getting started creating the templates as mentioned below.
Set up your Custom Checks in case you want to add in non-Precision checks specific to your firm as you may want to add in extra checks to the ones suggested in the below suggested workflow templates.
Review how to set up Repeating & One Off workflows.

Pre-Onboarding Client

Workflow type: [One-Off / Repeating ]
Workflow Period: [Dates/Period]

Checks to be performed before onboarding a client. This would be relevant when deciding when to accept the work, or where to assign the client within the Firm.

Precision Check	Reason to include within the Flow
Xero Activity	Transaction review of the activity for both sales and bills within Xero file. Gives an indication of the level of complexity for the sales and bills in addition to the number of transactions that may be posted through to the ledger.
Revenue Movement	Measuring revenue is key to being able to understand the profitability of your business. You calculate the most common measure of profitability, the profit ratio, by dividing net income by sales revenue. This metric will tell you how much of every dollar in sales flows to the bottom line. Therefore, it is important for all advisors to be aware of their clients revenue movement to advise their clients on what their next steps should be.
Net Assets	Measuring or monitoring net assets is key to measuring a client’s overall financial health. When monitoring net assets, usually the higher the net assets, the better financial position the client is in. Assets should provide a client with consistent returns and net assets illustrate the assets owned by a company, as well as any debt that a client may have. Clients with negative net assets are usually in financial trouble. By monitoring this with Precision, advisors are better off to advise their clients of possible solutions such as selling off assets to generate cash and pay off debts. Another is to renegotiate debt to lower payments or principals.
Bank Reconciliation – Unreconciled Transactions	By viewing the unreconciled transactions within the Bank Reconciliation check, you can holistically view the work that would be required to return the file to a reconciled state. This also gives a good indication of the bank accounts that the Client has, and the complexity of those accounts – for example foreign exchange, third party bank feeds etc.
Transactions without Attachments	Checking for any transactions that do not have sufficient documentation in order to action the workflow. May mean internal controls are not being followed.
Aged Receivables	Monitoring aged receivables ensures that advisors are across the monetary value that is currently outstanding for their client. They should also monitor those receivables that are falling behind in their payment terms. By not collecting receivables, clients can fall trap to cash flow issues.
Aged Payables	Monitoring aged payables ensures that advisors are aware of the monetary amount that their client currently owes to its suppliers. If their client is not currently paying their suppliers, they may run into supply chain issues or this could be an indicator of cash flow issues.
Overpayments	The overpayments check shows the current state of both the aged receivables ledger and the accounts payable ledger and if there are any overpayments on either of those. This check would show what should possibly be allocated to a receivable or a payment on the corresponding ledger.
Duplicate Transactions	Duplicate transactions highlight the possible lack of attention to detail. This could also highlight how ‘messy’ the file may be, and there is the risk that the file has been overstating certain areas within the financial reporting. For instance, if a phone bill has been paid twice, expenses would be overstated for that general ledger item. In addition, the cash impact would be that of the overpayment.
Regular Suppliers	By utilising the Regular Suppliers check, those suppliers active during the reporting period with anomalies in their transaction history are highlighted.
Cost by Account Code	Introduces a holistic view of the coding within the file by account code.
Fixed Asset Account Reconciliation	Ensure that the Fixed Asset general ledger accounts reconcile at the reporting date. Possibility that the Fixed Asset general ledger accounts are understated if reconciliation has not taken place and does not include all fixed assets.
Fixed Asset Depreciation Run Date	Identify the last date that the depreciation was run.
Fixed Asset Depreciation Reconciliation	Ensure that the Fixed Asset Depreciation general ledger accounts reconcile at the reporting date. Possibility that the Fixed Asset depreciation general ledger accounts are understated if reconciliation has not taken place and does not include correct depreciation journals.
Net Wages Status	Ensure the Net Wages control account is behaving as expected and the Client is making the necessary payroll payments or accruing the necessary payroll liability correctly.
Superannuation Status	Ensure the Superannuation control account is behaving as expected and the Client is making the necessary Superannuation payments or accruing the liability correctly.
PAYG Status	Ensure the PAYG control account is behaving as expected and the Client is making the necessary PAYG payments or accruing the necessary PAYG liability correctly.
Tax Review by Code	Ensure that transactions have been coded using the correct tax code allocation. By incorporating the check, it is an easy way to ensure that all items within BAS excluded or GST Free are supposed to be there and to verify the quality of tax item coding within the file.
Missing or Invalid ABN’s	Identify Contacts within the file that have either missing ABN’s or invalid ABN’s. This highlights the quality of the data for each contact within the file.
GST treatment By ABN	Identify Contacts within the file that have had the incorrect GST treatment applied as per the reporting period. This highlights the quality of the data for each contact within the file.
Email Client (Custom Check)	Send email to client to either confirm engagement or ask further queries.

TPAR Checklist (AUS)

Checks to be performed before preparing TPAR for clients. This would be relevant when preparing TPAR reporting, or for ensuring that the client had provided the necessary information to lodge their report.

Precision Check	Reason to include within the Flow
TPAR lodgement requirement	Confirm requirement to lodge TPAR (https://www.ato.gov.au/Business/Reports-a nd-returns/Taxable-payments-annual-report/)
Bank Reconciliation – Unreconciled Transactions	Checking for any unreconciled transactions that would be required to be reconciled prior to beginning work. This allows the accounting file to be in a complete state before the starting the TPAR report.
Duplicate Transactions	Any duplicate transactions should be rectified and removed prior to lodgement so not to overstate reporting.
Missing or Invalid ABNs	Identify Contacts within the file that have either missing ABN’s or invalid ABN’s. This allows those contacts to be corrected before lodgement.
GST Treatment By ABN	Identify Contacts within the file that have had the incorrect GST treatment applied as per the reporting period.
Lock Dates Status	Lock Dates, or Closing Dates are designed to help prevent changes to records in periods that have already been reported on or filed.
Send Queries to Client (Custom Check)	Send any queries to the client.
Lodge TPAR Report in Ledger (Custom Check)	Lodge the TPAR report with the ATO.

Weekly AP Run for Client Checklist

Checks to be performed in order to prepare and submit a weekly AP run for clients. This would be relevant when preparing weekly (or periodic) AP runs for clients where the Bookkeeping or Business Accounting Team are responsible for organising Accounts Payable.

Precision Check	Reason to include within the Flow
Bank Reconciliations – Unreconciled Transactions	Checking for any unreconciled transactions that would be required to be reconciled prior to beginning work. This includes ensuring that all payments made to suppliers have been reconciled so as not to make a duplicate payment.
Transactions without Attachments	Checking for any transactions that do not have sufficient documentation in order to action the workflow. May mean internal controls are not being followed.
Aged Payables	By viewing the Aged Payables, those that require payment within the reporting period are listed. In addition, the payables listing can be exported from Precision to facilitate emailing to the client for confirmation.
Email Client (Custom Check)	Check to ensure that the client is emailed with the AP listing and any necessary queries are included.
Upload ABA file into Bank (Custom Check)	Once confirmation is returned, check to ensure that the ABA file has been uploaded to the bank for the Client to then approve.
Email Client to Confirm ABA file (Custom Check)	Check to ensure that the client is emailed to confirm the ABA file has been uploaded and they are instructed to approve payment.

Sales Tax Return Preparation Checklist

Precision Check	Reason to include within the Flow
Historical Changes	By incorporating the historical changes check, transactions that have been made since the last lodgement are identified.
Transactions without Attachments	Checking for any transactions that do not have sufficient documentation in order to action the workflow. May mean internal controls are not being followed.
Bank Reconciliation – Unreconciled Transactions	Checking for any unreconciled transactions that would be required to be reconciled prior to beginning work.
Tax Review by Code	Ensure that transactions have been coded using the correct tax code allocation. By incorporating the check, it is an easy way to ensure the all items within BAS excluded or GST Free are supposed to be there.
Net Wages Status	Ensure the Net Wages control account is behaving as expected and the Client is making the necessary payroll payments or accruing the necessary payroll liability correctly.
PAYG Status	Ensure the PAYG control account is behaving as expected and the Client is making the necessary PAYG payments or accruing the necessary PAYG liability correctly.
Superannuation Status	Ensure the Superannuation control account is behaving as expected and the Client is making the necessary Superannuation payments or accruing the liability correctly.

Health Review

Checks to be performed in order to stay on top of the bookkeeping and maintain quality for clients.
This would be relevant as an additional review for the Bookkeeping or Business Accounting Teams during the month. Alternatively, this would be relevant for the Compliance (Tax & Advisory Teams) prior to beginning work for compliance engagements.

Precision Check	Reason to include within the Flow
Bank Reconciliation – Unreconciled Transactions	Checking for any unreconciled transactions that would be required to be reconciled prior to beginning work.
Fixed Asset Accounts	Dext Precision looks at general ledger Accounts that have an Account Type of FIXED, and then looks for mapped Asset Types in the Fixed Asset register. Accounts need to be selected as the Fixed Asset Account, Depreciation Expense Account or Accumulated Depreciation Account of at least one Asset Type to be considered “mapped”. Precision then checks the balance of any unmapped Accounts – if any are non-zero then this should be considered a genuine issue that needs immediate attention.
Fixed Asset Drafts	Identify any transactions that are within Draft Assets. If items are draft as opposed to posted to the ledger, there is the risk that the reconciliations may not match.
Fixed Asset Account Reconciliation	Ensure that the Fixed Asset general ledger accounts reconcile at the reporting date.
Fixed Asset Depreciation Reconciliation	Ensure that the Fixed Asset Depreciation general ledger accounts reconcile at the reporting date. Possibility that the Fixed Asset depreciation general ledger accounts are understated if reconciliation has not taken place and does not include correct depreciation journals.
Fixed Asset Depreciation Run Date	Identify the last date that the depreciation was run.
Dormant Accounts	Identify those accounts that have laid dormant for a time period.
Duplicate Transactions	Duplicate transactions highlight the possible lack of attention to detail. This could also highlight how ‘messy’ the file may be, and there is the risk that the file has been overstating certain areas within the financial reporting. For instance, if a phone bill has been paid twice, expenses would be overstated for that general ledger item. In addition, the cash impact would be that of the overpayment.
Aged Payables	Monitoring aged payables ensures that advisors are aware of the monetary amount that their client currently owes to its suppliers. If their client is not currently paying their suppliers, they may run into supply chain issues or this could be an indicator of cash flow issues.
Aged Receivables	Monitoring aged receivables ensures that advisors are across the monetary value that is currently outstanding for their client. They should also monitor those receivables that are falling behind in their payment terms. By not collecting receivables, clients can fall trap to cash flow issues.
Average Debtor Days	In simplest terms, debtor days measure how quickly a business gets paid. Average debtor days, also known as “day’s sales in accounts receivable,” are determined by dividing the average number of daily sales by the average number of debtor days. Ideally, average debtor days should reflect the payment terms that are provided to Customers and an increase in debtor days can be a worrying trend.
Overpayments	The overpayments check shows the current state of both the aged receivables ledger and the accounts payable ledger and if there are any overpayments on either of those. This check would show what should possibly be allocated to a receivable or a payment on the corresponding ledger. This also highlights the data quality of the file and if there is any work to fix the ledgers.
Draft Invoices	Identify any draft invoices within the accounting file. Risk is an understatement of revenue if invoices are in draft and not posted to the ledger.
Entertainment Accounts	The purpose of this check is to highlight entertainment expenditure across two categories, Staff and Business, each of which have different tax rules. Note: this requires some manual configuration per client to report correctly. The default configuration uses the Xero Reporting Code EXP.ADM.ENT to try and summarise entertainment expenditure in general.
Multi-Coded Contacts	Review the general ledger and tax coding for contacts during the health review period. By checking by contact, the disparity between coding is able to be identified quickly and rectified if required.
Regular Suppliers	The Cost Analysis insight is designed to analyse the client’s expenses across their supplier base and their expense accounts over time and automatically detect issues. Dext Precision will look for months where the total amount paid is unusual compared to other months.You may then choose to dismiss the alert or go through to the GL to investigate.
PAYG Status	Ensure the PAYG control account is behaving as expected and the Client is making the necessary PAYG payments or accruing the necessary PAYG liability correctly.
GST Balance Sheet Review	For VAT/GST Review – highlights any Balance Sheet transactions with sales tax applied. Allows for the data quality to be checked.

Monthly Bookkeeping

Checks designed for staff to either complete the monthly bookkeeping or for a reviewer of monthly bookkeeping.

Precision Check	Reason to include within the Flow
Bank Reconciliation – Unreconciled Transactions	Identify any unreconciled transactions that would be required to be reconciled prior to beginning any work on the file.
Duplicate Contacts	Identify and merge any duplicate contacts during the bookkeeping for the file during the month.
Duplicate Transactions	Identify any duplicate transactions during the bookkeeping for the file during the month.
Multi-Coded Contacts	Review the general ledger and tax coding for contacts during the month. By checking by contact, the disparity between coding is able to be identified quickly and rectified if required.
PAYG Status	Ensure the PAYG control account is behaving as expected and the Client is making the necessary PAYG payments or accruing the necessary PAYG liability correctly.
Net Wages Status	Ensure the Net Wages control account is behaving as expected and the Client is making the necessary payroll payments or accruing the necessary payroll liability correctly.
Superannuation Status	Ensure the Superannuation control account is behaving as expected and the Client is making the necessary Superannuation payments or accruing the liability correctly.
Draft Invoices	Identify any draft invoices within the accounting file. Risk is an understatement of revenue if invoices are in draft and not posted to the ledger.
Regular Suppliers (Cost Analysis)	The Cost Analysis insight is designed to analyse the client’s expenses across their supplier base and their expense accounts over time and automatically detect issues. Dext Precision will look for months where the total amount paid is unusual compared to other months.You may then choose to dismiss the alert or go through to the GL to investigate.
Aged Payables	Monitoring aged payables ensures that advisors are aware of the monetary amount that their client currently owes to its suppliers. If their client is not currently paying their suppliers, they may run into supply chain issues or this could be an indicator of cash flow issues.
Aged Receivables	Monitoring aged receivables ensures that advisors are across the monetary value that is currently outstanding for their client. They should also monitor those receivables that are falling behind in their payment terms. By not collecting receivables, clients can fall trap to cash flow issues.
Overpayments	The overpayments check shows the current state of both the aged receivables ledger and the accounts payable ledger and if there are any overpayments on either of those. This check would show what should possibly be allocated to a receivable or a payment on the corresponding ledger during the bookkeeping for the month.
Cost by Account Code	Leverage the Cost by Account Code to look for anomalies in account movement or as a cost. Best used to ensure that the coding that has occurred during the month by account code looks correct. Use this check to holistically review accounts like Prepayments, Accruals, Wages.
Fixed Asset Accounts	Dext Precision looks at general ledger Accounts that have an Account Type of FIXED, and then looks for mapped Asset Types in the Fixed Asset register. Accounts need to be selected as the Fixed Asset Account, Depreciation Expense Account or Accumulated Depreciation Account of at least one Asset Type to be considered “mapped”. Precision then checks the balance of any unmapped Accounts – if any are non-zero then this should be considered a genuine issue that needs immediate attention.
Fixed Asset Drafts	Identify any transactions that are within Draft Assets. If items are draft as opposed to posted to the ledger, there is the risk that the reconciliations may not match.
Fixed Asset Account Reconciliation	Ensure that the Fixed Asset general ledger accounts reconcile at the reporting date.
Fixed Asset Depreciation Reconciliation	Ensure that the Fixed Asset Depreciation general ledger accounts reconcile at the reporting date. Possibility that the Fixed Asset depreciation general ledger accounts are understated if reconciliation has not taken place and does not include correct depreciation journals.
Average Debtor Days	In simplest terms, debtor days measure how quickly a business gets paid. Average debtor days, also known as “day’s sales in accounts receivable,” are determined by dividing the average number of daily sales by the average number of debtor days. Ideally, average debtor days should reflect the payment terms that are provided to Customers and an increase in debtor days can be a worrying trend.
Customer Reliance	Customer Reliance is particularly important for business continuity. If clients are in a position to rely on one or two main customers, there are a number of risks that occur as a result. Monitoring customer reliance allows advisors to ensure they are having robust conversations with their clients and advising on their position.
Transactions without Attachments	Checking for any transactions that do not have sufficient documentation in order to action the workflow. May mean internal controls are not being followed.
Email Client (Custom Check)	Email client with confirmation of work or further queries.

Business Performance Checks

Checks to be performed in order to stay on top of the business performance of clients. This would be relevant as a review for the Bookkeeping or Business Accounting Teams during the month. Alternatively, the advisory teams could leverage the checks to assist clients with an ad hoc, or periodic, review.

Precision Check	Reason to include within the Flow
Revenue Movement	Measuring revenue is key to being able to understand the profitability of your business. You calculate the most common measure of profitability, the profit ratio, by dividing net income by sales revenue. This metric will tell you how much of every dollar in sales flows to the bottom line. Therefore, it is important for all advisors to be aware of their clients revenue movement to advise their clients on what their next steps should be.
Net Assets	Measuring or monitoring net assets is key to measuring a client’s overall financial health. When monitoring net assets, usually the higher the net assets, the better financial position the client is in. Assets should provide a client with consistent returns and net assets illustrate the assets owned by a company, as well as any debt that a client may have. Clients with negative net assets are usually in financial trouble. By monitoring this with Precision, advisors are better off to advise their clients of possible solutions such as selling off assets to generate cash and pay off debts. Another is to renegotiate debt to lower payments or principals.
Customer Reliance	Customer Reliance is particularly important for business continuity. If clients are in a position to rely on one or two main customers, there are a number of risks that occur as a result. Monitoring customer reliance allows advisors to ensure they are having robust conversations with their clients and advising on their position.
Aged Receivables	Monitoring aged receivables ensures that advisors are across the monetary value that is currently outstanding for their client. They should also monitor those receivables that are falling behind in their payment terms. By not collecting receivables, clients can fall trap to cash flow issues.
Aged Payables	Monitoring aged payables ensures that advisors are aware of the monetary amount that their client currently owes to its suppliers. If their client is not currently paying their suppliers, they may run into supply chain issues or this could be an indicator of cash flow issues.

Payroll Checks

Checks to be performed in order to stay on top of the payroll of clients.

This would be relevant as a review for the Bookkeeping or Business Accounting Teams during the payroll process.
This would be relevant for those who are governed by payroll and require a workflow to support compliance.

Precision Check	Reason to include within the Flow
Cost by Account Code	Review the accounts that are attributable to wages to ensure that the coding has been allocated correctly. Make any changes required.
Tax Review By Code	Review the Tax Codes and ensure that no payroll applicable journals or transactions have attracted GST. Make any changes required.
Directors Loans Accounts	Monitor the Directors Loans Accounts.
Net Wages Status	Ensure the Net Wages control account is behaving as it should and as expected.
PAYG Status	Ensure the PAYG control account is behaving as expected and the Client is making the necessary PAYG payments or accruing the necessary PAYG liability correctly.
Superannuations Status	Ensure the Superannuation control account is behaving as expected and the Client is making the necessary Superannuation payments or accruing the liability correctly.

BOOKMARK THIS PAGE: More workflow templates will be posted in future!

What’s next:

Now that you have your workflow templates set up – the next step is to create the workflows and assign them to your team members.

Next – Once you create the flows as Repeating or One Off flows your team members that you assigned them to can Complete the workflows.