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Source Document Sharing Between Projects

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  • Jen
    We have one Wdesk spreadsheet that we use for the 10-Q/K, 8-K for earnings and the earnings and board call scripts for the quarter. I have one large quarterly roll-forward project that includes all the filing docs for the quarter and the one support file. It takes a bit to get it set up, but totally worth it. After rolling the large project forward for the quarter, I create the 8-K and 10-Q/K filing projects, the support file (spreadsheet) goes into each filing project. Let me know if this answers your question. 
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  • Po Chen Lai

    Thank you Jennifer, that's exactly what I am looking for. So just to confirm, you have 3 projects, 1 for the support files, 1 for the filing of 10Q/10K and 1 for the 8K. How do you make the 10Q/10K and 8K filing documents link to the supporting file that's in a different project? Thank you.
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  • Po Chen Lai
    To provide an update, I think linking to supporting document outside of the project is not an issue, you just link them the same way you would link anything. However, the issue that I can think of right now is the rollforward. Let's say you keep the P&L support in the 8K project and have the 10Q linked to that same support. When you rollforward both project, how does the new 10Q link know to link to the P&L support that's in the new 8K project instead of the old 8K project?
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  • Po Chen Lai

    Ah, I understand now. So you are still able to do everything within the master project except for filing. We are in a unique situation where our 8K is prepared within Wdesk but is not filed using a 3rd party company. So we can basically create a project with both the 8K and the 10Q in it and only file the 10Q? 
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  • Po Chen Lai

    Unable to generate XBRL might be a little troublesome as if there is an error, we will need to go back to the master project to fix and then bring it back to the outside project. Is there a good way to counter this? 
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  • Po Chen Lai

    Ah I see now. That makes perfect sense. Thank you!
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  • Po Chen Lai
    What is the submission type that you put for your master project. Right now I have a 10Q project that I want to switch it to become the master project. Or do I just create a new project and put the current draft document of 10Q and 8k and the supporting doc in there. Thank you.
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  • Po Chen Lai

    Thank you. Before reaching out to our CSM, do you think the following idea will work. Right now we have a 8K project and 10Q project, I will create a master project with other type and grab all the support from the 10Q project and the 8K project as well as the main documents. If I understand correctly, these documents are now shared between projects. What I will do is that in the master project, I will do all the linking of 8K and 10Q to just one source document (I am going to relink the 8K as that's the easier of the two), and then basically remove all the duplicated or unnecessary supporting doc in the 8K and master project. If all works correctly, I shouldn't need to delete anything from the 10Q project as the support is single source support. Let me know if I am heading to the right place. Thank you!
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  • Mike
    Great convo!

    First of all, I'm a huge fan of the master rollforward project and its totally worth looking into, for sure. I can at least help answer the above question about the technical aspects of your projects.

    Once a project is selected as an Other type, it cannot be changed into another project type later. Meanwhile, your filing type projects, (8K, 10K, 10Q, etc.) can be changed into other filing type projects, meaning you can switch an 8K type into an 10Q type, however, you cannot change it to an Other type. So that being said, since you can't convert an existing project, you'd need to create a new Other type project to be your master rollforward one.

    Otherwise you are both right on the money with the above. Let me know if you have any follow-ups for me, or need anything else. In the meantime, keep the convo going! It's a great one :)
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  • Po Chen Lai

    Curious about this. With a master project, do you have a 10K, Q1, Q2, Q3, Q1 8K, Q2 8K, Q3 8K, and Q4 8K files in there? or do you just have a single 10K, a single 10Q, and a single 8K? Also, a critical question regarding the 10Q and 8K project that are created separately for filing, when you freeze the files after filing, does it freeze also the one in the main project? I was thinking that a lot of time we utilize the prior quarter stuff for reference, I understand everything in on the SEC website, so likely not a major concern.
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  • Po Chen Lai

    Gotcha, perfectly clear now. Thank you so much.
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  • Michelle Redditt
    Interesting...I like the idea of a master project, but I am not sure I understand the timing/logistics of this. Does the following describe the process? You do all of your work and updating in the master project. When it is time to file the 8K earnings release (maybe a day or two before filing when you know there will be no more changes), you make a copy of the master project and in the copied project you delete the Q and K documents so that it only includes the 8K. You then file using your new 8K project. Meanwhile, you continue updating the master project for the Q related items/notes, etc. Then when it comes time to file the Q, you make a copy and strip out the 8-k & 10k documents and file using your new 10Q project. So, basically, do you create the copies at the very end just for the purposes of filing each document, but all your work and updates are done in the master project?
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  • Po Chen Lai

    Hi Michelle,

    We went through Q1'19 using the master project concept. The idea is to rollforward the master project each quarter, instead of rolling forward the individual 10Q and 8K. When you rollforward the 10Q and 8K individually, it copies all the supports, and despite starting with the same supporting document for the 10Q and 8K initially, you now create 2 separate supporting documents cuz the rollforward is really just a copy and paste of the project. Then you will need to either update both supporting document, or relink one of the two projects. The idea of master project is to avoid that.

    You do all of your work and updating in the master project, and at the same thing, you can create the 10Q and 8K folder without copying or pasting anything from the master project. When you create a project, you will just import the existing files that's sitting in workiva. The biggest concept is that the same file can be in multiple different projects. The master project is just a tool for rollforward process. You rollforward one set of document and create multiple project to include part of that set of document for filing purpose.

    Let me know if unclear.

    PS: Replaced the word folder, I meant project, but it is the same concept. I see each project as merely a folder.
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  • Michelle Redditt
    Thanks for the clarification. I think that is the piece I was missing...I didn't know that you could have the same document in two different projects and that the updates would flow through to each project. Although, I just went through and reread the previous posts and it seems pretty clear that you already addressed that...it just didn't sink in for me at first! LOL!  Thanks for the help!
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  • John Thompson
    Internally we use the word "window" to describe projects. Files can only be in one folder on a normal network drive structure, but a project/window allows you the ability to group files together (without physically moving their location) and see them all at once. Files can therefore be in multiple projects as you are not physically moving them. 
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