Let's be honest: working papers aren't exactly the glamorous side of accounting. But they're the backbone of every compliance job, every set of financials, and every audit file your firm produces.

The problem? Most firms are still wrestling with the same inefficiencies they had five years ago. Manual data exports. Copy-paste marathons. Excel files named "FINAL_v3_ACTUALLY_FINAL.xlsx" floating around shared drives.

If your team spends more time formatting spreadsheets than actually analysing numbers, you're not alone. But you're also leaving serious time (and money) on the table.

Here are seven working paper mistakes we see constantly: and how to fix them before they cost your firm another week of billable hours.

1. Data Duplication (and Hard‑Typing Numbers With No Support)

The Problem:

This one is a classic: the same balance gets entered in multiple places (lead schedule, notes, disclosure, summary tab), and somewhere along the way someone hard-types a number “just for now”.

It works… until it doesn’t. Now you’ve got two (or three) versions of the “same” figure floating around, and none of them have a clear audit trail.

The Fix:

Aim for single entry of data and back it up at the point it’s used:

• Enter the number once (one source of truth)

• Put a snip of the report/source right next to the number (or on the next tab) so the support is obvious

• Keep it consistent across the file so a reviewer can follow it without detective work

The goal isn’t fancy tech. It’s simple: one number, one source, clear support.

2. Manual Entry and the Broken Data Chain

The Problem:

This is where a lot of working paper pain starts:

• Someone retypes a number instead of linking it, so the file stops tying out the moment something changes.

• Then a reviewer asks “where did this come from?” and there’s no clear trail back to Xero, just a vague “it’s in there somewhere”.

Once the data chain is broken, every check becomes manual. And manual checks are slow, repetitive, and easy to miss under deadline pressure.

The Fix:

Two rules that clean this up fast:

1. All references to a number should be links, never retyped. If it appears in five places, it should be the same cell referenced five times.

2. Keep a clear connection back to the source by refreshing the data via a one-click sync from Xero to Excel. That way, when numbers move, you sync and everything updates consistently.

You’re not trying to be fancy here—you’re just keeping the file tied together and easy to review.

3. The Review Bottleneck (Ignoring Materiality and Status)

The Problem:

Review time blows out when nobody can quickly answer two basic questions:

• What’s actually ready for review?

• What’s material, and what’s just noise?

So reviewers waste hours digging through folders/tabs to work out what’s done, or they end up obsessing over tiny $5 variances because there’s no visual way to prioritise.

The Fix:

Use built-in traffic light indicators for:

• Review status (e.g., Draft / Prepared / Ready for review / Reviewed)

• Materiality variances (e.g., green = fine, amber = check, red = investigate)

It means the team can focus on what’s Red (or genuinely significant) instead of checking every single cell “just in case”.

4. Version Control Chaos

The Problem:

Picture this: three team members working on the same client file. Sarah saves her changes. Tom overwrites them with his version. Meanwhile, the manager is reviewing an outdated copy they downloaded yesterday.

Sound familiar?

Excel wasn't built for collaboration. And without proper version control, your "final" workpapers might not actually be final at all.

The Fix:

Centralise your working papers in a system that tracks changes automatically. Cloud-based tools that sync with Xero can maintain a single source of truth: so everyone's working from the same data, and you can see exactly what changed and when.

No more "v2_FINAL_updated_Matt's_edits.xlsx" chaos.

5. Missing Preparer and Reviewer Sign-Offs

The Problem:

Work gets done. Reviews happen (sort of). But when you look back at the file, there's no record of who prepared what, who reviewed it, or when any of it happened.

This creates two problems: accountability gaps during the engagement, and compliance headaches if anyone ever audits your audit.

The Fix:

Establish a non-negotiable sign-off protocol. Every workpaper should show:

• Who prepared it (initials + date)

• Who reviewed it (initials + date)

• Any notes or queries raised during review

Automated working papers can prompt for sign-offs at each stage, so nothing slips through the cracks.

6. Manual Trial Balance Formatting and “Cleanup”

The Problem:

Accountants are still losing hours every month doing the same boring routine: export a CSV from Xero, delete rows, rename columns, bold the headers, fix the layout, and then spend another chunk of time repairing formulas that broke because the file structure changed (again).

It’s a massive time sink, and it’s exactly the kind of repetitive manual step where human error creeps in.

The Fix:

Use automation that syncs the trial balance from Xero directly into Excel and handles the formatting automatically.

That way:

• the numbers stay up to date with a one-click sync (no more “did we export the latest one?”)

• the structure stays consistent (so formulas don’t keep breaking)

• your team stops doing the monthly trial balance “grunt work” and can move straight into the actual job

7. Starting From Scratch Every Time

The Problem:

If every job begins with “copy last year’s file, delete half the tabs, then rebuild what breaks”… you’re basically paying your team to reinvent the wheel.

Even worse, new spreadsheets tend to grow random logic over time (“this column is only for Client A”) and the next preparer has to reverse-engineer it under deadline pressure.

The Fix:

Use standard templates/workpapers instead of building a new spreadsheet for every job.

• Start from a consistent set of core workpapers (lead schedules, variance checks, notes support, sign-offs)

• Keep the structure the same so reviewers know exactly where to look

• Update the template over time (once), rather than fixing the same issues in 30 separate client files

This is where tools like Fetch Workpapers can help in a practical way: you keep working in Excel, but your workpapers stay structured and consistent, and your numbers stay connected back to the source.

The Bottom Line

Working paper mistakes aren't just annoying: they're expensive. Every hour lost to reformatting, error-checking, and version confusion is an hour you could be billing, advising, or simply not working late.

The fix isn't complicated:

• Keep a single source of truth (and back key numbers with clear support)

• Stop manual entry by linking numbers, and keep the data chain intact with a one-click sync from Xero to Excel

• Give reviewers a way to prioritise using traffic light indicators for status and materiality

• Standardise your templates and keep version control under control

• Stop wasting time on manual trial balance formatting and “cleanup”

If you're ready to see what this looks like in practice, take a look at Fetch Workpapers. Fetch automates the trial balance sync from Xero into Excel and handles the formatting for you, so your workpapers stay consistent and your numbers stay up to date: without the monthly CSV-and-cleanup routine.

Your team's time is too valuable for copy-paste errors and spreadsheet formatting. Let's fix that.

Got questions about streamlining your workpaper process? Get in touch( we'd love to chat.)