Start the tax engagement

This topic applies to CaseWare ReviewCompTax.

Learn more about CaseWare ReviewCompTax

To get started, create a new CaseWare ReviewCompTax engagement file. When you create your new engagement, you can also set key dates and budgets and assign staff members to the file to prepare and review the engagement work.

To create a new CaseWare ReviewCompTax engagement:

From the Cloud menu, select CaseWare ReviewCompTax.

  1. Select the New button.
  2. In the CaseWare ReviewCompTax dialog, choose your client Entity, enter a name for the engagement file and specify the year of the engagement. You can also select a Start Date and End Date for your engagement and enter budget information. You can also carry forward data from an existing engagement. See Carry forward an engagement for information.
  3. In the Preparer field, enter your name and select yourself from the drop-down list. You are now assigned as the preparer.
  4. In the Reviewer field, enter another staff member's name. Select them from the list to assign them as a reviewer.
  5. Select Save.

You have created your new engagement, and you have assigned staff in the firm to prepare the engagement and to review it. When you select Save, the engagement file is automatically opened in your browser.

Set the workflow status, reporting period and year end date

When you first open the engagement, a pop-up appears in the top-left displaying the engagement's Workflow status. The Workflow status lets clients and other stakeholders know how far along in the engagement process you are. If you intend to start working on the engagement right away, set the Workflow status to In Progress.

Select the desired Reporting period.

With the pop-up still open, set the engagement's Year end date. Note that an incorrect year-end date will affect trial balance imports.

Select Save. You will now see the engagement's Documents page.

Set the engagement type to Tax

To enable RCT's tax features, you need to complete the procedures in the 0-10 Planning Optimiser checklist. The first question in the checklist prompts you to specify the type of your engagement. If you only want to perform a corporate tax return, select Corporation Tax only as the type of engagement being performed. If you want to perform a review or compilation engagement along with the tax return, select Review and Corporation Tax or Compilation and Corporation Tax as appropriate.

Complete the rest of the checklist as appropriate.

For more on Review and Compilation engagements, see Get started with CaseWare ReviewCompTax.