Tax Return Circle Legend

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What is a Circle?

A Circle is the group permissioning & assignment structure for  Clients and Prospects. Assigning resources like Dashboards, Portal Pages and Files to multiple Clients/Prospects is much easier using Circles because you can assign resources directly to a Circle, and the result will be that any users inside that Circle will automatically gain access to any of those resources. 

SuiteDash Reference





Purpose

This Standard Operating Procedure (SOP) outlines the naming conventions and structure for the Tax Process Circle Legend. It is designed to maintain consistency and clarity across all tax processes documented in the knowledge base.

Scope

This SOP applies to all tax processes, including but not limited to 1040, 1120S, 1065, etc. It is relevant for all team members involved in documenting, updating, and referencing tax processes.

Definitions

  • Circle: Represents a specific tax process and its associated steps.
  • Process Step Number: A unique identifier assigned to each step in a tax process.
  • Process Stage: The specific task or document associated with a step in the process.

Circle Legend Format

  1. Tax Return Type

    • The type of tax return being processed.
    • Examples: 1040, 1120S, 1065.
    • This identifier is placed at the beginning of the Circle name.

  2. Process Step Number

    • Each step in the process is numbered sequentially, starting from .01.
    • Format: .0X (e.g., .01, .02, .03).

  3. Process Stage Name

    • The specific task or document associated with the process step.
    • Placed after the x and separated by a space.
    • Example: x Communication Agreement

Naming Convention Structure

<Tax Return Type>.<Process Step Number> x <Process Stage Name>


Example:

  • 1120.01 x Communication Agreement
  • 1040.02 x Engagement Letter
  • 1065.03 x Deposit

Circle Creation Process

  1. Identify the Tax Return Type:

    • Determine the type of tax return being processed (e.g., 1040, 1120S, 1065).

  2. Determine the Process Steps:

    • Identify the sequence of steps required for this tax return.
    • Assign sequential numbers starting from .01.

  3. Assign Process Stage Names:

    • Label each step with its corresponding stage name (e.g., Communication Agreement, Engagement Letter).

  4. Create the Circle:

    • Use the format: <Tax Return Type>.<Process Step Number> x <Process Stage Name>.
    • Example: 1120.01 x Communication Agreement.

Example Process Flow

  1. 1120.01 x Communication Agreement

    • Initial agreement with the client regarding communication terms.

  2. 1120.02 x Engagement Letter

    • Formal engagement letter outlining the scope of work.

  3. 1120.03 x Deposit

    • Collection of initial deposit from the client.

  4. 1120.04 x Organizer (Part 1)

    • First part of the tax organizer provided to the client.

  5. 1120.05 x Organizer (Part 2)

    • Second part of the tax organizer.

  6. 1120.06 x Updates

    • Status updates and communication with the client.

  7. 1120.07 x Approval

    • Client approval of the tax return draft.

  8. 1120.08 x Filing

    • Submission of the tax return to the relevant authorities.

  9. 1120.09 x Next Steps

    • Outline of next steps and follow-up actions.

Updating the Circle Legend

  1. Add New Processes:

    • Follow the naming convention structure to add any new tax processes.

  2. Modify Existing Processes:

    • Update the process step number and stage name as needed.
    • Ensure changes are reflected consistently in the knowledge base.

  3. Archive Outdated Processes:

    • Mark outdated processes as 'Archived' to avoid confusion.