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Dealing with former Single Source Master Project when switching to Folders in Next Gen

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  • Permanently deleted user

    I'm in the same boat as we have our set-up the exact same way. I think maybe labeling documents that carry along like your 10-K document, should be labeled "... - DO NOT USE", we label ours as "... - rollforward copy" to keep them organized. Then maybe having sub-folders that could be used like "Q1 2020 10-Q folder" and "Q1 2020 8K folder" and "DO NOT USE folder" might be helpful? You would just need to re-organize the sub-folders each time the master folder is rolled. Another thing I've been thinking about is the permissions for projects, now folders. I thought that folders could have permissions in next gen, but I haven't tinkered around with that yet. Keep us posted and I'd love to hear about suggestions from those who have already transitioned.

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  • Jennifer Tonnelli

    We don't roll the 10K until year-end. What links are maintained in the roll forward you mention and why is the a preference? Thanks.

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  • Jennifer Tonnelli

    I have limited permissions in documents or SS that I don't want others to edit - make them view only. This will enhance the use of DO NOT USE, which I often use as well.

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  • Stephanie Barnhart

    I agree with you, Jamie - we'll likely just have to change our organization so that we have a "Filing" folder and a "DO NOT USE" folder to separate out the appropriate documents.

    Also - it looks like Folders do not have permissions. Just the files themselves, which is a bummer. Folder permissions would solve the problem so much easier! 

     

    Jennifer - we use a single spreadsheet so we can store historical data quarter over quarter, and use formulas to automatically populate our Q's and K's with prior year/prior quarter data simply by changing one cell that has the date in it. It saves an enormous amount of time in rolling forward our document. You can also leverage the same spreadsheet with links to both documents to preserve XBRL tagging and not having to re-do all your work when you have to switch between a Q and a K. So essentially, we carry forward a "DO NOT USE" version of our 10-K every quarter we roll forward for the next 10-Q. Other users may even take this a step further and continuously update their 10-K each quarter with the disclosures, to make the 10-K rollforward even easier (my company does not do that, but it would be easy to do). I strongly suggest you search the Community for other posts from users on single source to get more information. It takes a bit of time to set up initially, but the time savings afterward each quarter are enormous for us. Worth doing a cost-benefit depending on how large and complex your filings are.

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  • Hazel Cerisier

    Stephanie, I'm in the same boat. I took the plunge on an 11-K first and I'm test filing it in Next Gen for the first time. I was shocked to see my entire library of files come up for me to select my filing documents.  For years, I've been rolling my single source project and creating separate filing projects with only the necessary documents so that I don't accidentally file the wrong thing. This is gonna be an interesting transition.  

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