An assessment once created, will pass through 15 stages. The stages are explained below,
Unassigned – This is the very first stage of the assessment. The assessment is in the process of being created and no user roles have been assigned yet. Assessments can only be created by a user in the FirmAdmin role.
Assigned – The assessment has been created and the user roles have been assigned to it. Only a user in the FirmAdmin role has the rights to assign user roles for an assessment.
3. Consented – An assessment is in the Consented stage when the Consent document (signed copy of the Engagement letter from the client) has been uploaded into the system. This action is performed by a user in the Preparer role. Click on SELECT FILE button to choose the Consent file. Click on UPLOAD button to upload the document.
4. Awaiting Financials – Once Consent has been uploaded, the Preparer moves to the Documents tab. The Preparer can request for documents from the Client by clicking on ASK FOR ALL DOCUMENTS button. The request is sent to the client, who can then login with his/her credentials into the Client Portal of AI.TaxAssist and upload the necessary document.
Clicking on ASK FOR ALL DOCUMENTS button opens a Dialog box with a pre-defined message for the client which can be edited
Client Portal shows the tasks for the client.
5. Review Financials Received – Once the client has submitted the necessary documents, the stage will change to Review Financials Received. The Preparer also has the option of uploading all the documents himself/herself in the Document tab. The documents required are Management Accounts, General Ledger (recommended) and Fixed Asset Register (if any). For more information on the Financial Documents, please read the article Financial Documents Required. Once the documents are uploaded, the stage will change to Review Financials Received.
6. Review Workspace – The Preparer after uploading the financial documents, must select Software Type of the documents (Xero, MYOB etc.) and click on APPROVE DOCUMENTS button in the Documents tab. The system processes the documents after which the Workspace tab is populated. The assessment moves to the Review Workspace stage. For more information, on how to upload documents please read the article How to upload financial documents?
7. Address OSI/ Ledger Requests if any (Enterprise Version only) – The assessment moves to this stage when an outstanding inquiry (OSI) has been raised by the Preparer.
8. Review Draft Tax Computation – Once the OSIs have been resolved and all necessary changes made in the Workspace, Preparer must click on APPROVE ALL button in the Workspace tab. This generates the Draft Tax Computation. The assessment then moves to the Review Draft Tax Computation stage.
9. Senior Review (Enterprise Version only) – After reviewing the Draft Computation, the Preparer can submit for review by clicking on SUBMIT FOR REVIEW button in the Draft Computation tab. The assessment moves to the Senior Review stage. In an assessment where there is no Reviewer assigned, this stage is skipped. The assessment moves directly to the Manager Review stage.
10. Manager Review (Enterprise Version only) – The user in the Reviewer role needs to login to the system with his/her credentials. Once all the raised reviews have been resolved, the Reviewer clicks on SUBMIT TO MANAGER button in the Senior Review tab. The assessment moves to Manager Review stage.
11. Final Draft Generated – User in the Manager role needs to login with his/her credentials. After resolving all raised reviews, Manager clicks on APPROVE ASSESSMENT button in the Manager Review tab. This generates the Final Tax Computation. The assessment now moves to the Final Draft Generated stage.
12. Final Draft Sent to Client (Enterprise Version only) – User in the Manager role must click on SEND TO CLIENT button in the Client Computation tab to send the final tax computation to the client. This will send an email to the client. Only a user in the Manager role can perform this action. Assessment moves to Final Draft Sent to Client stage.
13. Final Draft Approved (Enterprise Version only) - Once the computation is approved by the client, Manager clicks on MARK CLIENT APPROVAL button in the Client Computation tab. Only a user in the Manager role can perform this action. This will push the assessment to Final Draft Approved stage.
Rollback - The manager has the option to Rollback the assessment to the Review Draft Computation stage if the client does not approve the final computation.
14. Form Generated - Once the client approval is received, a user in the manager or the preparer role can generate the tax form. Clicking on the Generate Tax Form button will populate the Tax Form tab with details derived from the assessment creation page and from the final computation. A success message is shown once the tax form tab is populated. Only the user in the manager role has the permissions to Submit the tax form to IRAS.
15. Efiling Confirmation – After the Tax Form is submitted successfully, the eFiling confirmation pdf document (tax form submission) is available for download in the eFiling tab.
This completes all the 15 stages that an assessment will pass through.
What’s Next?
To know more about the Financial Documents, please read the article Financial Documents Required.
To learn how to upload the documents, click on How to Upload Financial Documents.