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Q1 Redline to 10-K and Q3 - Best Practice

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For our Q1 first draft distributions, our executives like to see certain sections of the current Q1 first draft redlined to the prior year 10-K, and other sections redlined to Q3 of the prior year. I am wondering what other Wdesk users utilize as best practice for this process. For Q1 2019, I was able to run a blackline in Wdesk of certain sections of the Q1 2019 first draft to the Q3 2018 as filed document (since it was the "import draft" of the Q1 document), but had to run the Q1 2019 first draft redline to the 2018 10-K in Word. It made for a lengthy process. We also have two companies, both of which use Wdesk to process our filings, but one is on single-source, and the other is not ("classic"). This creates two different rollforward processes, and makes it even more challenging when attempting to come up with a best practice for our process. Any input would be helpful to help make this process more efficient. Thanks in advance!
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  • Mike

    Hi Amanda!

    Happy to help here. From the Workiva side, we do have a beta setting for Cross Document Blacklines which would allow you to compare two separate documents. That said, this would be more for comparing quarter to quarter or annual to annual as opposed to quarter to annual, but you definitely could. Let me know if you'd be interested there or have any follow-ups for me. Thanks for reaching out and have a great rest of your day!

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  • Lizette Cha
    We have a similar situation where executives want to see incremental changes within certain footnote disclosures from the Q3 filing to the 10K draft. We run multiple redlines in Word to determine what changes need to be make to the 10K Proforma draft to conform with the Q3 disclosures. After these changes are made, we then set a milestone to establish our "beginning point". This process is very lengthy and manual as well. I would welcome input from others in the community who have situations similar to this and any recommendations to streamline the process.

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  • Amanda Worth

    Hi, I would love any current input from the Workiva Helpdesk on this question. 

    Are there any special settings I should use when creating a redline of the 10-K vs. the 10-Q within Workiva for let's say... a Q1'24 filing.

    Since the sections in the 10-K and 10-Q are not in the same order, the standard redlining process within Workiva produces a very messy redline. 

    Just wanted to know if Workiva figured out a way around this so that users do not have to result to creating redlines with a lot of manual work in MS Word. Thanks!!!

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  • Tushar Bansal

    Hello, I would like to know more on how to do cross document blackline. I want to to blackline for this year draft10K versus last year filed 10K.

     

    Thanks!

    Tushar

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  • Isabel Messore

    Hi Tushar Bansal,

    Happy to provide some clarity on Cross Document Blacklines!

    Please note: Since Cross Document Blacklines is currently in beta, you'd need to sign up first. If it is already enabled, you can follow the steps below. If it is not enabled, please let me know and I can get you added to the beta program. Here are the program requirements. 

    Steps for creating a  Cross Document Blackline:

    To create a cross document blackline, check the box next to two documents on the Files page, right-click and select Blackline.


    The top document will be used as the base to compare to the bottom document.

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