Check the financials

The Financials card on a project's page puts the headline numbers side by side by year. Its workbook preview shows the workbook exactly as Export to Excel downloads it, so you can look through every tab before you export.

Steps

1. Open the project. On the Financials card, choose Preview workbook, or a row's name to open the workbook at that row.

   

   

2. The workbook opens in the card, under the rows, and the page moves down to it. Its tabs run along the bottom, as in Excel, with the file's own names: Income Statement, Balance Sheet, Tax Basis Income Statement, Earnings Bridge (Unadjusted), IS Audit, BS Audit and Reconciliation. With Form 8825, Rental Properties follows Income Statement. A row you chose is marked on its tab.

   

   

3. Choose a tab to switch to it. Scroll inside the workbook to see every year; the line names stay in view.

4. Hide workbook closes the preview. Your browser's Back steps back through the tabs you opened, then closes it.

The preview is read-only, like the file. To see where a number came from or correct it, open its return: choose Review on the return's card, then any amount on the return page. On the project page, the warnings banner counts what to check across the years: Show lists each one, with its own Review.

To correct a value:

1. On the return page or in the review window, choose Correct under the value.
2. Enter the Amount in dollars and add a note if you like. Choose Save correction, or Save as blank if the line is empty on the return.
3. You'll see "Updating the financials" while the totals and checks are worked out again.

To accept a check as printed:

1. For one return's check, open the return and choose the check in its Reconciliation list, or Review in the return's warnings banner. For a Schedule L line that doesn't carry over, choose Show, then Review, in the project page's warnings banner.
2. Choose Accept as printed, add a note on why the return doesn't tie if you like, and choose Accept as printed again.
3. The check keeps its mark and shows that you accepted it, with your name, the date and your note. To take it back, choose Undo; it counts as a warning again. See Reconciled, Unreconciled and Not verifiable for more.

Good to know

• There's no Checks tab. The workbook's Reconciliation tab lists every check, as the file does.
• Corrections can be undone. Each value's History keeps what was read and every change, with who made it and when. To go back, choose Use the amount as read.
• Only a check that doesn't tie can be accepted. Accepting it changes no numbers.
• While a return extracts, an open preview updates once it's ready.
• Export waits until the financials finish updating after a correction.
• A year still extracting shows "Extracting" on the card.

If something goes wrong

• "The workbook is updating after a correction. Try again in a moment." Choose Preview workbook again once the update is done.
• "We couldn't open the workbook. Try again." Choose Preview workbook again.
• "Couldn't update the financials. Try again." Your correction was saved, but the totals weren't updated. Choose Try again.
• "That amount is too large." Check the amount you typed.
• "No value on the return feeds this amount." No line on the return builds it.

Next, export the financials.