As previously mentioned, the engagement templates, or binders, are displayed in a folder tree structure. Documents may be added to these binders through a variety of ways. Documents may be imported from most Microsoft Office products, scanned directly into the software, manually added through right click menu options or simply by drag-and-drop functions. Regardless of which method is used to import the documents, users will have the ability to assign a workpaper reference number, document name and appropriate file folder location to each document. Additionally, ProSystem fx Engagement includes 65 preconfigured blank document template files that may be used to create new documents from within the software. The main advantage of creating documents through this mechanism is that all fields are already mapped, so the client name, engagement date and certain numerical data will automatically be generated.
ProSystem fx Engagement defaults all documents to always roll forward, as it is typically easier to delete a document than to regenerate the document year after year. Each document, however, may have specific rollover instructions which allows a document to be rolled over with or without data or as a placeholder for a K-1 or year-end brokerage statement summary, for instance. Prior to a full engagement roll forward, users also have the option to control which documents roll forward and how. All of these functions and implementations are fully dependent upon assigned user access rights.
ProSystem fx Engagement also includes a set of tickmarks that come in three colors – red, green and blue. These may be used by various staff and management review levels to aid in which specific user actually performed the task. Users also have the option to create their own tickmarks to use in conjunction with the preinstalled tickmarks.
WORKFLOW & COLLABORATION (4.5 Stars)
Perhaps the most critical workflow component contained within ProSystem fx Engagement is Knowledge Coach. Knowledge Coach provides guidance for users as they progress through audit engagements, reviews, compilations and nontraditional engagements. Workpapers may be automatically generated and additional guidance may be provided based on the client type and size that is currently in process. The Knowledge Coach may also prompt users on potential problem areas and when certain areas need no further attention.
As with the trial balance, the engagement binder also has a snapshot view. This view shows all workpapers assigned or any other notes or items demanding attention by the user currently logged on. From this snapshot view, users are provided links to perform specific tasks and to sign off on all documents as completed. Users may sign off on individual documents or through batches of documents. Reviewers may also sign off on documents in a similar manner, but have the ability to lock down documents to prevent further alterations. If a document is changed subsequent to reviewer sign-off, a warning is displayed to the person making the change and a visual warning icon is displayed next to the document on the home screen view.
When an engagement is complete and ready for final processing, ProSystem fx Engagement has a wizard that walks the users through the process. During finalization, ProSystem fx Engagement will look for any errors, such as unsigned documents and any warnings or notes that have not been addressed among other items. After the process is completed, the engagement file is converted to read-only and no further revisions may be made. The engagement file may also be published for peer review or sent to a client. When this process is done, any links specific to ProSystem fx Engagement are removed and the data is converted to the appropriate value as displayed and the document may be forwarded via email or to a portal as appropriate.
INTEGRATION/IMPORT/EXPORT (4.5 Stars)
As part of the ProSystem fx product lineup, ProSystem fx Engagement closely integrates with its fellow products. Data may be dynamically linked and shared among all ProSystem fx products. One feature worth mentioning is the integration with ProSystem fx Tax. As adjustments are made within ProSystem fx Engagement, all data is dynamically changed in ProSystem fx Tax. This reduces the need to re-import tax numbers when only small adjustments are necessary to finalize the financials and/or tax return. The system integrates with ProSystem fx Portals for client collaboration, and Prosystem fx Document for final deliverables, searching and retrieval.