Release notes for Onvio Trial Balance

Year end close

We added a warning message to prevent you from performing a year end close when moving from one year to the next year when the trial balance is out of balance or there are accounts that are ungrouped. These must be addressed before proceeding with the year end close process.

Adjustments

We made several workflow improvements in the Adjustments screen to address tabbing issues and focus not being clear when tabbing through fields.

Periods screen redesigned

We made several improvements to the layout and workflow from the Periods tab in the Client, Contact, and Firm Setup screens.

Trial Balance opens to Trial Balance tab

When you open a project, Trial Balance will open to the Trial Balance tab. It previously opened to the Settings tab.

Show workpaper references on reports

You can now choose to include a WP Reference column on the Chart of Accounts and Trial Balance reports.

Year end close balance distribution

You can now distribute net income/loss to selected equity accounts and add equity accounts on the fly when closing a year. Asset, liability, equity, and memo account balances are automatically carried forward to the new year.

Integration with QuickBooks Online

For annual clients, you can import accounts and balances directly from QuickBooks Online into the Trial Balance screen with the flexibility to add new accounts and to map existing accounts. Learn more

Adjustments - Add accounts on the fly

You can now add accounts on the fly when entering distributions for an adjustment, instead of needing to go to the Trial Balance tab to add a new account.

Spreadsheet import

You can now map accounts in the spreadsheet to existing accounts in Onvio, or add them as new accounts. Your mappings are saved after the first successfully completed import and can be used in subsequent imports.

Note: Onvio will automatically map accounts based on the Account Number and Account Description.

Spreadsheet import

When finishing an import from a spreadsheet and the imported unadjusted balance is out of balance, you now have the option to import the out of balance amount into a selected balancing account.

Hide zero rows

We have added a Hide zero rows switch above the Trial Balance grid that allows you to hide rows when there are zeros in all the balance columns in the current trial balance view.

Include or exclude adjustments in the trial balance

The following improvements have been made in the Adjustments screen.

• We have added an Include/Exclude button in the Adjustments list toolbar of the Adjustments screen to include or exclude one or more adjustments from the trial balance calculations and reports.
• We have added an Exclude adjustment switch in the Adjustment Details section of the Adjustments screen that enables you to exclude a selected adjustment from trial balance calculations and reports.

Copy and paste adjustments in the Adjustments screen

You can now copy an adjustment in the Adjustments grid and paste it the same as the original, with the debits and credits reversed, or without any debit or credit values.

Re-order adjustment rows in the Distributions grid

You can now select an adjustment row and move it up or down in the Distributions grid on the Adjustments tab. Click any cell in the row, except the one in the Account column, and drag it to the desired location. (A yellow line appears as you drag the row.)

Separate or combine debit and credit columns - Trial Balance screen

You can now mark or clear the Display separate debit/credit columns checkbox in the Manage Views screen to make balance columns either combined or separate debit/credit columns.

Prior year unadjusted column - Trial Balance screen

The unadjusted balance column for the prior year is now read only in the Trial Balance screen. To edit prior year balance amounts, you must revert to the prior year by changing the current period in the Settings tab.

Prior year adjustments - Adjustments screen

Prior year adjustments for a contact in the current year are read only. To edit prior year adjustments, you must revert to the prior year in which the adjustment was made by changing the current period in the Settings tab.

Rounding - add on the fly

You can now add accounts on the fly from the Rounding Setup panel after you enable rounding.

Round balance amounts

You can now turn on rounding for your contacts' account balances and specify the account to use for rounding each account type.

Improvements in the Periods screen

The following improvements have been made to the Periods screen.

• You can now click the Add New Fiscal Year link to open a separate screen to add a new fiscal year by selecting the Year Begin/Year End dates, Tax year date, and defining the period.
• You can now define the current period via the Current Period field in the Application Periods section.
• You can now define the year begin date and year end date from the Edit Periods screen.

Create reversed entries in the Adjustment tab

You can now create reversed entries for accounts in the Adjustments tab so that when you advance the period, those amounts appear as reversed in the Trial Balance tab and Adjustments tab.

Edit periods via the Edit Periods link

You can now edit periods, period frequency, and set the current period for a selected fiscal year via the Edit Periods link in the Periods tab for a selected contact.

Assign grouping codes when adding or editing accounts in the trial balance

You can now select grouping assignments for a selected account when adding or editing accounts in the trial balance.

Edit grouping codes and subcodes in the Trial Balance grid

You can now select grouping codes and subcodes for a specified grouping schedule from the available drop-down lists in the Account Grouping column of the Trial Balance grid.

Add workpaper references in the Adjustments screen

You can now add workpaper references via the Workpaper Reference columns for adjustment and distribution rows in the Adjustments screen.

View balance definitions from the Setup menu

You can now choose Setup > Balance Definitions to view (read only) the journal entry types that are included in the calculation of each balance type for the current contact.

Balance type options in the Trial Balance report

You can now select which balance type to run for the Trial Balance report from a list of available balance types.

Adjustments

We have updated the look of the Adjustments screen so that the two sections are now divided horizontally instead of vertically, added the ability to filter columns in the Adjustments grid, and added a Total and Difference row to the Distributions grid.

Reports

We have added Reclassifying and Other journal entry types as optional sections to include in the Adjusting Journal Entry report.

Reports

You can now create a Grouping Schedule report based on tax schedule.