Deliverable Due Dates changed because of the Fixing America's Surface Transportation (FAST) Act

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Also known as the Highway Funding bill, the act sets new due dates for partnership and C corporation returns, as well as FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), and several other IRS information returns. - See more at: http://www.journalofaccountancy.com/news/2015/jul/tax-return-due-dates-changed-201512746.html#sthash.wI4lerIZ.dpuf

Thomson Reuters released an enhancement to GoFileRoom on March 31, 2016, User Bulletin 8343, to update the original due dates for all associated deliverables during the roll forward process. 

Steps your firm should take to update your deliverable due dates.

1. Update your Master Deliverable List.

Option 1 - to update your Master Deliverable List (Recommended)

Option 2 - to update your Master Deliverable List

2. Check the Update Original Due Date on Roll Forward checkbox. Administration > Manage FirmFlow > Configuration. 

Update Original Due Date

3. Roll forward workflows. 


How to update your due dates if the due date is different for Calendar vs. Fiscal returns.

This will require multiple deliverables within your Master Deliverable List. This may also require you to rename the current deliverable (i.e. "1120 US Corporation Income Tax") with a new name and add additional deliverables for the new due date scenarios. We recommend adding the word Calendar, Fiscal, June within the deliverable name (i.e. "1120 US Corporation Income Tax (Calendar)".

  1. To update your Master Deliverable List within a workflow click the option to Add a deliverable, find the deliverable you are looking to update(example:*1120*), then Click on the Lookup List button.
  2. In the Deliverable Matching Values window mark the checkbox next to the deliverable then Right Click > Modify and update the name and due date. Click Save. Please note that when you modify the name of a deliverable within the Deliverable Matching Values table the naming convention is updated on all existing workflows. To add additional deliverables to the list (i.e. Fiscal and June) right click in the Deliverables Matching Values table and choose Add New Deliverable. In this example notice the 1st Extension due date has 9/15 for Calendar year and 10/15 for Fiscal year returns.
    Calendar Fiscal Deliverable
  3. Verify that the Update Original Due Date on Roll Forward is checked and then roll forward workflows.
  4. After the rollforward is complete, export the FirmFlow Bulk Import (By Deliverable) report for all non 12/31 Period End workflows with the Calendar Deliverable present to perform a bulk update.
  5. Follow the instructions here http://cs.thomsonreuters.com/ua/gfr/cs_us_en/firmflow/replacing-deliverables-during-bulk-update.htm to replace deliverables by performing a Bulk Update Process to replace the Calendar deliverables with the newly created deliverables.
  6. Perform additional bulk import updates as needed.

Note: If you are interested in having GoFileRoom Professional Services assist with steps 4-6 for an additional fee please Contact Support.


What to do if your firm has already rolled forward?

  1. If your firm has not yet begun to work on the new workflows we suggest to delete the workflows and complete steps 1 through 3 above from Steps your firm should take to update your deliverable due dates.
  2. If your firm has already begun work on the new workflows we suggest to update your workflows using the Bulk Import Template (By Deliverable) FirmFlow report. This will update the Current Due Date column in your workflows. The Original Due Date column in your workflows will not update until the following years roll forward. If your update requires mass replacement of deliverables see the following article: http://cs.thomsonreuters.com/ua/gfr/cs_us_en/firmflow/replacing-deliverables-during-bulk-update.htm.

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