Reserves workpaper (RSV)

Workpaper availability

RSV is applicable only where the entity type is Company. It isn't added to a job automatically. It sits in the Workpaper Bank, and a user selects it and moves it into Active Workpapers, under the Equity heading, when a client requires it.

This is because not every client has these reserve accounts. Adding the workpaper by default would mean accountants and reviewers doing unnecessary verification and review work on every job, even where it isn't relevant.

Account setup

  • Revaluation Reserve is set up as a new parent account code. Account Type: Equity, GL Scrutiny Rule: not required.

  • Capital Reserves is an existing parent account code. The parent codes Capital Gain on Disposal of Assets and Capital Loss on Disposal of Assets both roll up under Capital Reserves.

Mapping logic

During account mapping, GL codes are mapped to one of two categories:

  • Capital Reserves, including Capital Gain on Disposal of Assets and Capital Loss on Disposal of Assets

  • Revaluation Reserve

Last year's balances are calculated separately for each category based on the accounts mapped to it.

Opening balance

For each category, the opening balance is the sum of last year's Trial Balance balances for every account code mapped to that category. If the calculated value is negative, it's displayed as a positive value.

Section structure

RSV has two sections, Capital Reserves and Revaluation Reserve, each structured the same way:

  • Opening Balance: as described above.

  • Movement during the year: one row per account code mapped to the category, showing Account Code, Account Description, and Amount.

  • Total: the sum of the Opening Balance and the year's movement.

  • Reconciliation summary: Balance Per Workpaper, Balance Per GL, and Variance, with the variance emphasised while the workpaper is unreconciled.

For each account code, the Amount is calculated from the Trial Balance as:

Debit × (-1) + Credit + Last Year Balance

Unlike the Opening Balance figure, this result is displayed as calculated, positive or negative, and isn't forced to a positive value.

How to access

  • Since RSV isn't active by default, go to the Workpaper Bank, find Reserves, and move it into Active Workpapers under Equity.

  • Go to Jobs and open the relevant job.

  • Click the Workpapers icon, or navigate to Job Results then Workpapers.

  • Select Reserves (RSV)