Silverfin admin process

General
  1. Open Silverfin and using the search bar find and select the client 
  2. Before any work is started ensure that sections 1 and 2 are at 100% completion.  If not, return to manager

Generate the accounts (Full)

  1. Open Workflow 3 (accounts), the name will vary based on the client type e.g. FRS102 & FRS102 1a / FRS 105
    1. open the ‘Overview’ reconciliation (in the general section)
    2. Ensure that the ‘Final Financial Statements’ option is selected 
    3. select ‘Full accounts’ on the 'Type of report to be generated' box below
  2. N.B. make sure you save changes by pressing enter or click on grey box
  3. Click Exports at the top and then new export
  4. Select the appropriate bundle from the drop down list e.g. ‘Accounts - FRS102 1A/FRS102 (Full / Filleted / Draft / Final - CHANGE TITLE AS APPLICABLE)’
  5. Rename the file as necessary e.g. ‘2021 Full Accounts (for approval)’
  6. Click ‘Generate export’
  7. Once the file has been created, Click on folder icon to the right of the filename and use this to save the file to the documents folder.  Select the correct 'year' e.g. ‘2021’ and select to move the file
  8. To rename the file, Open the document you have just saved, click ‘customize’, rename and then save changes

Generate the accounts (Filleted)

Follow the process above for 'Generate the accounts (Full) with the following changes

1.c - select ‘Filleted accounts’ on the 'Type of report to be generated' 

5. Rename the file as necessary e.g. ‘2021 Filleted Accounts (for approval)’

Export 'Template Documents' from Silverfin

In the Silverfin 'Documents' menu option at the top you will find

  • documents that have been uploaded to Silverfin and linked to other templates.  These will have the icon from the type of file e.g. word / excel
  • documents / bundles created within Silverfin and saved to documents e.g. accounts with the above process
  • template documents e.g. Letter of Rep, minutes agreeing accounts.  These are identified by the icon containing '< >'.  Once the templates have been completed as necessary they can be exported to PDF using the PDF creator option.

To export a template to PDF

  1. Select ‘Export PDF creator’ under bundles
  2. Drag ‘text’ box on the right hand side in to the grey highlighted box
  3. Where it says ‘please select’ select the template required e.g. LOR and rename the export to as applicable e.g. ‘2021 LOR (for approval)’ and generate export
  4. Once the file has been created, Click on folder icon to the right of the filename and use this to save the file to the documents folder.  Select the correct 'year' e.g. ‘2021’ and select to move the file
  5. Again, open the document you have just saved, click ‘customize’, and rename, click save changes
  6. repeat for the above to export the minutes agreeing accounts and DLA transaction detail 

To add other documents into Silverfin so all documents requiring approval are together

  1. Select documents from the Silverfin menu and go to the folder where you want to upload files to
  2. Upload the cover letter that you would have already drafted plus any fee note from PE, along with the CT600 and tax comps from Alphatax by dragging and dropping or browsing to the files

To download all files for client approval

  1. Select ‘documents’, the correct year and highlight all docs in the pack by selecting the boxes on the left.
  2. Select ‘actions’ and ‘download selected’.
  3. Once saved, locate and open the Zip folder and save all docs to M-files

Then proceed with how you would normally send an accounts pack whether that be via post or portal.  Details of communication method with the client can be found in Permanent Information.

Once you have had an approval email to say the pack has been released from the client you will need to link all of the final documents, to do this open section 4, select ‘key documents – completion’, and click on the paperclips to link to the relevant sections.

Then select ‘completion questionnaire and enter the date that the accounts were sent to the client.

Finally under actions on the client home screen , lock the client.

Accounts Submission

General
  1. Open Silverfin and using the search bar find and select the client 
  2. Before any work is started ensure that sections 1 and 2 are at 100% completion.  If not, return to manager

Generate the accounts (Full)

  1. Open Workflow 3 (accounts), the name will vary based on the client type e.g. FRS102 & FRS102 1a / FRS 105
    1. open the ‘Overview’ reconciliation (in the general section)
    2. Ensure that the ‘Final Financial Statements’ option is selected 
    3. select ‘Full accounts’ on the 'Type of report to be generated' box below
  2. N.B. make sure you save changes by pressing enter or click on grey box
  3. Open the 'General Settings' reconciliation
    1. Enter 'date accounts approved' and 'accountants report date' 
    2. the reconciliation should how a green circle at the top.  If it is still a red triangle, contact the manager
  4. Return to the workflow screen, selection actions > export
  5. Generate the ixbrl file (select appropriate accounts type) and save to the clients relevant accounts folder on the Mdrive and proceed to submit the corporation tax return through Alphatax as you would normally.
  6. Go back to section 3 and then open ‘Overview’ again
    1. Ensure that the ‘Final Financial Statements’ option is selected 
    2. select ‘Filleted accounts’ on the box below, make sure you save changes by pressing enter or click on grey box
  7. Get the company authentication code ready as you will need it soon to file.
  8. Return to the workflow screen, selection actions > export
  9. Generate the ixbrl file (select appropriate accounts type)
    1. Download the PDF and save
  10. Send a copy of the approved filleted accounts to the manager of the client via email and call them.
  11. At this point you will need to screen share with the manager to check the accounts (against the PDF that you have just opened from Silverfin)
  12. Once the manager is happy click submit to Companies House
  13. Silverfin will now prompt you to enter the password (if you do not have this contact your office champion) and then enter the company authentication code
  14. Once submitted hit the follow button so that you will get notification of when it has been accepted at CH, might be worth physically checking on CH website 10 minutes later just for peace of mind
  15. If the accounts were portal approved you will then need to prepare a final type signed set, to do this, ensure that approval date is entered and export the same way as when you prepare the accounts for signature: click Exports at the top and then new export, select ‘Accounts - FRS102 1A/FRS102 (Full / Filleted / Draft / Final - CHANGE TITLE AS APPLICABLE)’ under bundles and rename ‘2021 Type Signed Full Accounts’, do the same for the filleted accounts, making sure you change to ‘Filleted’ under section 3, overview.
  16. Click on folder icon, select the year e.g. ‘2021’ and click move on both documents
  17. You will need to download these to your userdrive so that you can then add the FC signature to the accountants report and to then save under mfiles and upload to the portal. Delete them from Silverfin once you have downloaded as it wont have the FC signature
  18. Back in Silverfin, you can then re-add these type signed docs one you had added the FC signature back in by dragging them in under documents or select ‘browse from your computer’. Make sure you have added to the right year folder.
  19. If the accounts were physically signed then you would just need to do the previous step.
  20. You will then need to fill out what is effectively the B1 that we currently use. To do this enter section 4 – ‘completion’ and then ‘key documents -completion’.
  21. Link the signed full and filleted accounts with the paperclips accordingly.
  22. Once done, click on the completion questionnaire under section 4 and fill out when the accounts were received back, when the accounts were submitted etc.
  23. Finally under actions, lock the client