Art of Accounting: SmartProof template available

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Two weeks ago, I made my updated Word file with 190 checklists available. I now have a SmartProof Excel worksheet template available. I will provide it for free if you email me at GoodiesFromEd@withum.com and just put Template as the subject. If you did not get the worksheet file and want it, send a second email with Checklists as the subject. This method is part of a system that makes it easier to respond. Please no messages, just the subject. 

I posted a previous column describing this method and provided reasons for when, why and how to use the SmartProof worksheet. I want to now add another reason…and it's personal.

When we prepare our personal tax returns, there is no one to review them. It is up to us to check it and recheck it and then give it a final look-see before we push the button to file it. In my case I also want my wife to be aware of our income and tax situation. In both of these situations the SmartProof worksheet is a life saver, and I use it as my self-proving method. I enter everything from my "final" return and compare it to my projection and the last three years' actual amounts. Any obvious errors pop right up. I could not be certain my return is correct without this SmartProof worksheet. Further, I also prepare some relatives' returns with one being pretty involved. Again, the SmartProof worksheet is my review method. Note: At some point the tax preparation software will generate these SmartProof worksheets, but not now, so the entries have to be entered manually into the SmartProof worksheet. That's OK because it gives the preparer another look at what they did. 

While my tax return is not that involved, it is not a plain vanilla version. When I review the final return with my wife, I use the SmartProof worksheet. That takes about 10 minutes while using the return with its many pages and some in an illogical order, it would take at least 45 minutes (if I am lucky). Likewise, I have some clients with 1,000-page tax returns. I can review it with them over the phone or in a virtual session in under 15 minutes! Without the SmartProof worksheet, fuhgeddaboudit!

A secondary use is where I enter unusual items that occur during the year in a projection column for the current year. This serves as a mind-jogger and is quick and easy to do.

When staff use this SmartProof worksheet, they have a method to self-check and self-review their own work and fix any errors before it goes to the reviewer. Shouldn't that be the goal?

For the first time in many years I prepared a template that should work for most returns, with minor changes based on clients' situations. I also added at the end of the SmartProof worksheet some of the information I include for my own return, so it should be a very helpful tool for you. I also hope that by using it to review your own return, you will see the benefits of it and extend it to standard use by your staff. From what I can tell, a few thousand firms are using this SmartProof worksheet, and I periodically get unsolicited thank you messages from many of them.

When I send you the template, I'll also include prior articles posted here and sample spreadsheets. It will be two files — an Excel and a PDF. Email me at GoodiesFromEd@withum.com. It's free with my compliments. You'll also be able to put it to immediate use. Learning time should be less than three minutes!

This was adapted from, and further information on reviewing tax returns is in, my How to Review Tax Returns, 3rd Edition book published by CPA Trendlines.

Do not hesitate to contact me at emendlowitz@withum.com with your practice management questions or about engagements you might not be able to perform.