Understanding Casware tools and capabilities
In the complex landscape of Canadian public sector financial reporting, organizations have relied on Caseware software to automate the process. Selecting the most suitable tools from Caseware's extensive product suite can be a challenge. At FHB, with over three decades of specialized experience partnering & implementing Caseware, we frequently guide our clients through these decisions. Our goal is to demystify the options, highlighting how they align with Public Sector Accounting Board (PSAB) standards and operational efficiencies. This article draws on our in-depth testing, observations, and analysis to provide a clear framework, empowering finance leaders to make informed choices that enhance productivity and compliance.
The Evolution of Caseware's Core Offerings for Public Sector Users
Historically, public sector entities in Canada have relied on a trio of foundational Caseware products to streamline their financial reporting processes:
- Working Papers: This robust platform serves as the cornerstone for document management and workpaper organization.
- ASPE Financials Template: Tailored for Accounting Standards for Private Enterprises (ASPE), this template has been adapted effectively for public sector needs, simplifying the creation and upkeep of PSAB-compliant financial statements.
- Caseware Cloud: Offering secure, cloud-based storage and workflows, this solution enhances accessibility and data integrity across distributed teams.
The capabilities our public sector clients need and the differences between the three products are laid out below.
Introducing Caseware Essentials: A Comprehensive Bundle
Recently Caseware has launched Caseware Essentials, a bundled offering that integrates numerous tools into a single package.
Caseware Essentials includes:
- Working Papers (See Chart) - document management, and workpapers.
- Caseview – powerful but technically complex report writer (formerly included within the Working Papers product),
- SmartSync – synchronization client automating distribution of the changes made in the local file to other copies of the same Working Papers file. For a more detailed explanation, read the article we wrote on the topic a decade ago.
- Cloud (See Chart) – secure portal and workflows
- Accomplish – workflow & task application
- PBC Requests – designed for accounting firms that request information from their clients.
- SmartSync – The Cloud product acts as the central hub for synchronizing data between your various users’ local Working Papers files.
- ASPE Financials (See Chart) - template product to simplify the creation and maintenance of their PSAB statements. Without the ASPE Financial Template, users must develop and maintain their statements directly in CaseView which is too much like programming for many of our clients.
- Connector – plugins for Word and Excel. This is required for those clients looking to automate their provincial ministry reporting (Ontario FIR & Alberta MFIR) in Excel.
Our understanding is that Caseware public sector clients must now buy the bundle instead of purchasing these products separately. Thus, for our Caseware clients they need Caseware Essentials AND the ASPE Financials template.
Beyond the Essentials: Not Applicable to Public Sector
Caseware's broader portfolio includes specialized tools like OnPoint, Audit, ReviewComp, SQM, Sherlock, Extractly, and Validate. These are primarily geared toward accounting firms and / or international markets and lack the customizability required for Canadian government applications.
For more information on which Caseware solutions are best for your team or to discuss how to drive immediate and significant productivity improvements for your finance department, contact us today.