Y/E Adjustments - Non sync clients

This help article goes through the process of how to prepare year end adjustments for non-sync clients (mainly Sage desktop).

Preparing year end adjustments for a non-sync client is still a straight forward process there are just a couple of extra steps. To prepare the adjustments you need a trial balance from Silverfin and a trial balance from the client's bookkeeping system.

For manual upload jobs only adjustments for the balance sheet are required.

Trial balance from Silverfin:

-When in the client overview screen select "Reports" (top banner)

Select "Trial Balance" as the report.

Ensure it is selected as "CY with adjustments (o/bal)" then select "Actions" and "Download as Excel".

The file will save to your downloads. Open the file and you are ready to format it.

Formatting the Silverfin TB file (see video here - 4min):

Note: The video was recorded for sync clients, it is the same principle for non-sync client just a couple of differences noted in bold below.

-Enable Editing

-Delete column B, C & D (video deletes columns B, C & E however for non-sync client you need the final year end figures to compare to clients system)

-Delete row 2

-Rename column A "Nominal", column B "Dr" and column C "Cr"

-Add a filter to the top row and sort A-Z

-Scroll down and delete all accounts without a nominal code (these are just subtotals)

-Sort by Dr column

-Scroll down and delete blanks at bottom

-Use formula to move values into the credit column

-Sort by nominal

-Subtotal each column and check journal balances

-Presentation does not need updated at this point (video makes some presentational changes however once you have checked the journal balances, you are ready to move on to the next step which is comparing the 2 trial balances)

-Delete the P&L nominals, will then become unbalanced by the profit for the year (check that this agrees to profit in Silverfin), add this difference to the retained profit nominal. (extra step from video)

Trial balance from client bookkeeping system:

-Obtain a year end trial balance from the client's bookkeeping system

-Delete the P&L nominals, will then become unbalanced by the profit per the client TB, add this difference to the retained profit nominal.

For the example below we will be using Sage desktop.

Setting up the TB comparison: See video here - 5min

Preparing the Y/E adj journal: See video here - 4min

There is often additional amendments required such as accounting for new codes and adjusting control accounts. For help on this, see help article here.

NOTE: If there is anything in this help article that needs updated please get in touch with the Silverfin Experts.