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Using the Status Sheet (Cloud) ​

What it is: A diagnostic page in the Annual Financial Statements that automatically checks whether the AFS balances against the trial balance and highlights any differences that need attention.

What it's for ​

The Status Sheet provides a single place to see all outstanding reconciliation issues before finalising the AFS. It flags differences in the Statement of Cashflows, Property Plant and Equipment notes, Statement of Changes in Equity, and the retained income balance. Hyperlinks on the Status Sheet take you directly to the note or section where the problem lies.

How to do it ​

Reconciling Statement of Changes in Equity — Unaccounted Movements (DC074) ​

  1. If the Status Sheet shows Other changes not yet reconciled, it means there are equity movements not yet explained.
  2. Navigate to the Statement of Changes in Equity (SoCE).
  3. Movements such as profit/loss, other comprehensive income, and dividends pull through automatically. Other equity movements (those that do not go through the income statement) must be entered manually in the dark blue input cells.
  4. Enter the missing movements in the input cells until the "Other changes not yet reconciled" amount clears to zero.

Reconciling the Statement of Cashflows and PPE Note (DC073) ​

  1. Navigate to the Status Sheet in the AFS.
  2. If the Statement of Cash Flows shows a difference, the affected notes are highlighted. Click the note hyperlink to jump directly to it.
  3. At the note, enter the missing movements in the dark blue input cells (opening balances pull through automatically from the prior year; depreciation and impairments pull from the trial balance).
  4. Once all movements are reconciled, the PPE note closing balance will agree to the trial balance, and the Status Sheet will clear.
    • Tip: if the Status Sheet sheet is hidden, warnings appear inline on each affected sheet instead.

Identifying Retained Income Differences ​

  1. Navigate to the Status Sheet. A retained income difference indicates that the calculated prior year closing balance does not match the current year opening balance on the trial balance.
  2. Navigate to the Statement of Changes in Equity (SoCE) to investigate. All movements in the retained income account must be accounted for here.
  3. Check the prior year signed AFS to confirm the opening balance, profit/loss, other movements, and closing balance match the figures in Draftworx.
  4. If the trial balance opening balance does not agree, run an Opening Balance Check or process a correcting journal entry.
  5. Once the journal is processed, the Status Sheet difference will clear.

Source ​

https://draftworx.helpjuice.com/en_US/cloud/draftworx-cloud-using-the-status-sheet

Walkthrough ​