What’s new - OnPoint PCR Spring 2022 Release (v.1.3210.0)

Here is what’s new in OnPoint PCR Spring 2022 release.

Construction industry content

OnPoint PCR now includes industry specific content for Construction Contractors. Checklists, documents and financial statements have been updated to include content specific to this industry.

Simply select, “Construction Contractor” as the industry in the 1-100 Engagement Setup document to bring in the industry specific content throughout the engagement.

In a review type engagement, additional construction industry specific content will be included as followed:

  • New procedures in 2-400 Review - Overall analysis checklist.

  • New procedures in 3-100 Review inquiries checklist.

  • New queries procedures in 3-100Q Review inquiries - Required and general.

  • New and updated procedures in the C.100 Receivables and 1110 Revenues and Cost of Revenues review programs.

Construction industry supplementary schedules

OnPoint PCR now includes pre-authored supplementary schedules to support reporting for the Construction Contractors industry. The schedules include:

  • Schedule of Contract Costs

  • Schedule of Earnings from Contracts

  • Schedule of Contracts Completed

  • Schedule of Contracts in Progress

Supplementary information workflow updates

We have updated the workflow to allow end users to document their decisions in respect to the supplementary information.

This update impacts multiple checklists as the changes include updated wording for deliverables and the Financial Statements reports, as follows:

  • Updated or removed procedures in 1-100 Engagement set-up.

  • Updated wording in Review and Compilation Engagement letters.

  • Updated workflow in 4-200 Financial Statements set-up for the Supplementary Information.

  • Updated workflow for the wording shown in the Accountant’s Compilation Report and Independent Accountant’s Report in 4-250 Financial Statements.

Online provider bindings

OnPoint PCR now includes an updated method of importing from supported online accounting packages. Additional improvements have been made around the user interface, automapping algorithms and import functionality when importing data from online accounting software.

In addition to all previous import options, OnPoint PCR currently supports import from the following online accounting packages:

  • QuickBooks Online

  • Xero

For more information about the import options available in OnPoint PCR, see Import client’s data.

Financial groupings assignment tool

The 2-155 Financial groupings assignment tool is a new tool added to OnPoint PCR to help end users in assigning accounts to the financial groupings and reuse the assignment decisions in other OnPoint engagements.

The tool allows users to save the assignment selections as a configuration file and use the configuration file in other engagements to improve efficiency and consistency while assigning accounts across all engagements.

OnPoint CloudBridge - Remap file

To provide a more efficient way to transfer financial data for our current desktop users to cloud engagements, the OnPoint CloudBridge file has been updated to include the ability to use a default remapping file when performing the transfer.

The remap file was created using the default SSARS desktop mapping structure and will automatically assign the accounts to the OnPoint Financial Groupings structure during the migration.

For more information about the remap process, see Transfer individual engagements with CloudBridge.

To download and install the latest version of OnPoint CloudBridge, see Get CloudBridge.

Financial statements improvements

Display currency symbol in dynamic tables

To enhance the presentation of the financial statements, users can now set default display options for currency symbols in dynamic tables utilizing the Currency Symbol settings.

You can set the currency symbol to display in table column headers.

Currency Symbol.

You can OVERRIDE TABLE CUSTOMIZATION checkbox to override any existing currency symbol settings for individual dynamic tables and apply the default settings instead.

Display Currency Symbol.

Overline and underline description columns

The Dynamic Table Border settings now include an option to select whether the underline or overline options selected for dynamic tables apply to description columns.

Overline and underline description columns.

Fixes

The following list includes a brief description of the issues that have been resolved in this release.

  • In the 2-155 Financial groupings assignment tool form, a technical issue prevented accounts from displaying (v.1.3210.0).

  • In the 4-250 Financial Statements and Report statement, under the Balance Sheet area that includes Note references, the Equity attributable to the parent formula was not working as expected (v.1.3210.0).