Release notes for Onvio Trial Balance

Import Period Activity from QuickBooks

The ability to import period activity from QuickBooks Online has been added.

Tax Grouping Schedules updated for 2022

We have updated the tax codes and subcodes on the Groupings tab and on the Trial Balance tab for integration with the 2022 version of Ultra Tax CS.

Fiscal Year Link

We added the Add fiscal year link at the bottom of the Current Period list to allow fiscal years to be added from any tab.

New features

• Can show and change the current period from any tab
• Added confirmation when cancel is selected within manage views and changes have been made
• The last Trial Balance view is remembered by staff login and contact on all browsers
  

Group Schedule and Tax Grouping report

• Custom tax subcode descriptions are now showing
• A wrapping issue when description is long within the totals line has been fixed

Documents with formulas

You can now see calculated values in the document viewer when a .XLS file with formulas and varables is uploaded.

Document outline

You can now add, edit and remove document outline items that allow you to move to important document sections quickly.

Real-time collaboration

Documents now have improved saving and refreshing that allows for real-time collaboration with other staff in the firm when adding annotations, comments, and various document edits in Onvio.

Binder year

You now have the ability to edit the year on a binder from within the Binder screen by going to Actions, then Binder properties with the binder selected.

Rebrand

Onvio Workpapers is now rebranded to be Onvio Trial Balance. All of the same features and functionality will be available. Existing Onvio Workpapers firms will now see Onvio Trial Balance instead.

Enhancements

• If you attempt to open a protected document that is linked as a Workpapers reference on the Trial Balance or Adjustments screen, you will see a message telling you that the document is protected and cannot be edited.
• If you have not added any accounts and are on the Trial Balance screen, you will now see an import button in the empty grid that allows you to import accounts from a spreadsheet or QuickBooks Online.
• You will receive a warning on step 1 of the QuickBooks Online import about importing future balances into a prior period. This only serves as a warning and will not prevent you from importing future balances into a prior period.
• You now have the ability to see the year on the binder in the binder tree on the Binder screen.

Trial Balance screen enhancements

• Cells that can be edited in the Trial Balance grid are now white and cells that cannot be edited are now shaded in grey.
• Cells that contain drop downs now have visible drop down arrows to indicate the cell is editable and contains a drop down list in the Trial Balance grid.
• Only two decimal places are allowed to be entered for balances in the Trial Balance grid.
• Column widths are now remembered per staff member in the Trial Balance grid.
  

Integration

The QuickBooks Online Company name displays after the contact is connected to a QuickBooks Online company on the Integration tab.

Adjustments

The Adjustments screen now has a Save & add new button. This will save your current adjustment and start a new one. The Type and Posting period fields on the new transaction will retain the value from the previous transaction.

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.

Tax Vendors

We added Onvio Tax to the list of available tax vendors in Contact Settings.

Adjustments

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

Tax Grouping Schedules updated for 2021

We updated the tax codes and subcodes on the Groupings tab and on the Trial Balance tab for integration with the 2021 versions of UltraTax CS and Onvio Tax.

Updated tax exports

We have updated tax exports to ProSystem fx and Lacerte for the 2021 tax year.

Periods screen redesigned

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

Predictive Tax Code Mapping

Tax codes are now predicted based on account descriptions during the spreadsheet import process for Individual, Corporation, S Corporation and Partnership entities.

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.

Updated tax exports

We have updated tax exports to ProSystem fx and Lacerte for the 2020 tax year.

Tax Grouping Schedules updated for 2020

We updated the Groupings tab to include a Tax Grouping Schedule for integration with UltraTax CS 2020.

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.

Updated tax grouping schedules

We have updated the tax grouping schedules that are available from the Groupings tab for integration with the 2019 version of UltraTax CS.

Updated tax exports

We have updated tax exports to ProSystem fx and Lacerte for the 2019 tax year.

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 multiple 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.

Import beginning balances in the Trial Balance screen

You can now import and define beginning balance columns from a spreadsheet in the Trial Balance screen.

Edit beginning balances in the Trial Balance screen

You can now edit beginning balances for balance sheet accounts for the current year in the Beginning Balance columns on the Trial Balance screen.

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.

Zero beginning balances

You can now zero beginning balances for an account when moving to the next fiscal year for a contact when the contact has accounts with activity and/or adjustments.

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.

Export to Lacerte

You can now export the contact's tax data to Lacerte.

New Tax Grouping report

You can now create a Tax Grouping report that groups the contact's accounts under each tax code/subcode. This report provides a method for you to verify balances before and after importing them into other tax applications.

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.

Export to ProSystem fx

You can now export the contact's tax data to ProSystem fx.

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.

Updated tax grouping schedules

We have updated the tax grouping schedules that are available from the Groupings tab for integration with the 2018 version of UltraTax CS.

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.

Reports

You can now select additional account balance columns, and optionally separate the debit and credit columns for adjustments in the Trial Balance Worksheet.

Reports

You can now create a Grouping Schedule report that includes account balance information and the corresponding adjusting entries organized by grouping schedule.

Trial Balance

You can now add the following types of columns to the Trial Balance grid via the Manage Views screen in the Trial Balance tab.

• Workpaper Reference
• Grouping Schedule

Reports

You can now create a Trial Balance Worksheet report that includes account balance information and the corresponding adjusting entries.

Trial Balance

You can now perform the following tasks in the Trial Balance screen.

• Open the Manage Views screen from the Trial Balance tab to add, delete, modify column details, and freeze columns in the Trial Balance grid.
• Sort account number columns alphanumerically.
• Filter and search columns in the Trial Balance grid.