Silverfin Training - JC Trainees

INTRO:

1.1 - Welcome to your JC Silverfin training - please watch our short intro video here (7 mins)

1.2 - JC Connect is where we store our BA processes, to find out where watch - Here (2 mins)

Next, we would like to introduce Silverfin to you. Please view the short intro from Silverfin - here (2 mins).

IMPORTANT INFORMATION:

The remainder of the training is modular; recordings are in bite sized chunks to keep you engaged and also to ensure you have adequate breaks and time to use and learn the software.


A demo company has been set up for you and will be named 'ZZ__Training - Adorx Therapeutics Ltd - YOUR NAME' please access this now for use throughout the remainder of the training.


To access Silverfin please press on the following link - https://jcca.getsilverfin.com. When you are asked to login then you should use your usual JC laptop login details (making sure you are connected to the VPN).  You would be best to save the Silverfin JC webpage as a favourite on your toolbar now, as logging in will very soon become a fundamental part of your daily routine.  *Please note you should use Microsoft Chrome or Microsoft Edge browsers to use Silverfin, as Internet Explorer does not support all of its functionality.*  (Please note: you may get sent an activation email from Silverfin, when this arrives you simply click the link in the email to accept, then click the above link again and your access will be then active - you will NOT need to enter any log in details).


CERTIFICATION / CAMPUS:

We would like to introduce Silverfin's 'core' functionality to you, by asking you to click on the question mark on the top right in Silverfin as below:

Then click Campus as below:

This will take you on a walk-through of all core features in Silverfin and present you with a certificate at the end - this is  mandatory to complete before you continue with any further training.  (20-30 mins)


TRAINING PLAN:

When you are ready to get started please click on the below links and follow the notes which will provide you with a training plan. Please remain open minded as you progress through the training, the process will be new to you. You will have the full support of your buddy, your team and line manager as you adapt to the JC way of working.

For reference purposes, a completed example file can be found under  'ZZ__Training - Adorx Therapeutics Ltd - James Williamson'


STAGE 1 - SET UP AND VAT:

SET UP:

2.1 - How to set up a sync to clients bookkeeping data – Here (10 mins)

Interactive exercise: Try syncing your client data to your practice files.

2.2 - How to import data manually (for info) – Here (5 mins)

2.2 - Ludwig mapping – Here (6 mins)

OVERVIEW:

Interactive exercise: View your TB > Actions > Download data or Reports / Trial Balance

3.2 - Overview of client home page & workflows – Here (14 mins)

PLANNING:

4.2 - Document Storage – Here (4 mins)

4.3 - Internal communication - How to raise review points and view – Here (10 mins)

INTRODUCTION TO VAT AND MI WORKFLOWS:

7.1 - Introduction to MI and VAT - Here (13 mins)

Interactive exercise: Using your demo company, edit the reporting frequency and add in the in-year workflows.  For the purposes of this exercise, add in both workflows.

VAT:

7.2 - VAT Workflow in Detail - Here (25 mins)

Interactive exercise: Review the VAT workflow and the templates provided.  Also view the reports shown in the video and switch between the different period views. Using the data provided, populate some of the templates from within the VAT workflow. Using the help articles to guide you through a step-by-step on each working paper. 

  • Suggested approach (does not need to be followed and not all are required to be completed within allocated time):
    • Complete bank reconciliation
    • Complete VAT summary and VAT Turnover Reconciliation 
    • Complete trade debtors and trade creditors template

    • Explore and complete any other templates that you see fit


MANAGEMENT ACCOUNTS

7.3 - Management Accounts and Reporting - Here (37 mins) - for info only



STAGE 2 - YEAR END ACCOUNTS:

On the job training should be provided to assist you as you transition to year end accounts preparation. 

PLANNING:

4.1 - Planning – Here (14 mins)

Interactive exercise: Complete the planning (note: there is no information provided here, just simply take some time to familiarise yourself and complete the templates included within planning). Allocate checklists across all 3 workflows, star what you will be completing in working papers.


WORKING PAPERS:

5.1 - Working Papers - Overview – Here (12 mins)

5.2 - Working Papers - How to post adjustments – Here (4 mins)

Interactive exercise: Using the data provided, populate some of the templates from within working papers. Using the help articles to guide you through a step-by-step on each working paper. Take some time to get used to the system, the layout and why not even try to post some adjustments?

  • Suggested approach (does not need to be followed and not all are required to be completed within allocated time):
    • Complete bank reconciliation
    • Complete Fixed Asset Register - you may notice here your fixed asset register has not copied over from the prior period, to do this simply select Actions > Copy data > select 2018 period > Next - again this is a small bug and Silverfin are working to update this. 
    • Import payroll information and complete payroll reconciliation both P&L and B/S
    • Complete HP account template and Summary 
    • Complete VAT summary and VAT Turnover Reconciliation 
    • Complete accruals and prepayments template 
    • Complete trade debtors and trade creditors template
    • On client entertaining use the disallowed expenses account template to disallow 100% of client entertaining 
    • Complete dividends summary (if using Limited co)
    • Complete Stock template

    • Explore and complete any other templates that you see fit


5.3 - Working Papers - Getting ready for review and client meeting – Here (12 mins)

Interactive exercise: Within your file create an export to take along to the client meeting, use the functionality to edit this export, adding in documents, adding and removing reconciliations. This could be based on what you have completed above. Try it out!


COMPLETION:

6.1 - Completion – Here (7 mins)

Interactive exercise: Have a look around the completion section familiarising yourself with the documents and the checklists. Export your adjustments to see how this process would work. When you are happy with it, why not try locking down your file to see what impact this has on the templates?

6.2 - Opening Balances – Here (8 mins)


FURTHER TRAINING THAT CAN BE COMPLETED AT ANY TIME:

USEFUL TOOLKITS TO AID WORKING PAPERS TRAINING:

How to approach the Preparation of a Silverfin file - Here (1 hour)

Silverfin Templates and how to populate - Here (50 mins)

Analytical Review Training - Here (25 mins)

VAT Reconciliations in Detail - Here (45 mins)

Payroll Reconciliations in Detail - Here (32 mins)


USEFUL TOOLKITS TO AID COMPLETION:

Preparation of Opening Balance Adjustments - Here (46 mins)

6.3 - Roll forward of a Silverfin file – Here (6 mins)

Help Article - Process for year two and onwards - Sage - here

Help Article - Process for year two and onwards - Xero - here

NOTE: This will not be required until you are on year 2 of a file or when you are picking up a job that has been prepared on Silverfin last year.