Budgets

This help article goes through the best practice layout for preparing the budget for a year end accounts file in Silverfin.

See below an example layout of a budget, this layout should be used on all jobs across all offices;

• There is no requirement to breakdown the budget into further detail than this.

• At planning, the time estimated should be based on the time taken last year but also take into account if there are any changes to the process this year.

• At each stage of the budget eg planning, working papers and completion a WIP report from CCH should be attached as back up.

• If the budget is below 90% recoverability, this should be flagged to the manager and a discussion should take place with the CRM.

• The completion budget should be updated in the working papers section before passing draft accounts to the manager to ensure we are monitoring the time on the job.

• It should then again be updated in completion once the job is finished and billed.

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