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The "Accruals and Deferrals" account template within Silverfin's is part of the BE Standard Working Papers package. This article guides you step by step on how to activate the template, link accounts, and validate transactions, ensuring accurate management of accruals and deferrals.
TABLE OF CONTENTS
How to Activate the Account Template?
The "Accruals and Deferrals" account template is part of the BE Standard Working Papers package, which is included with Silverfin’s basic license. Once activated, you can use this template to manage accruals and deferrals within your files.
Linking to the Account
The "Accruals and Deferrals" account template can be assigned to both active and passive accruals. When filling out this template, you specify the offset account in the income statement, along with the description and corresponding amounts.
Steps:
- Link the Account: Use the # symbol to link the appropriate general ledger account. This is essential for an accurate calculation of accrued expenses.
- Exporting: Note that columns containing invoice numbers, invoice dates, and attachments will not be included in the export. This information remains visible only within Silverfin.
- Bulk Upload: If you wish to upload data in bulk, you can do so via the "Import Reconciliation Data" function. Go to Actions → Import Reconciliation Data. You can download an Excel template, fill in the necessary data, and then select the columns you want to import.
Validation in Silverfin
- Green Dot: A green dot appears in Silverfin when the sum of the transactions matches the amount recorded in the general ledger account. This indicates that everything is correctly linked.
- Red Triangle: If there is a mismatch between the transactions and the amount recorded in the general ledger account, Silverfin shows a red triangle, indicating a discrepancy that needs to be resolved.