Standard Unincorporated Entity - Approach Cheat Sheet

Codes   Nominal code reconciliation Summary reconciliation Helpful Tip     Link to Help Article  
Intangible Assets   Intangible Fixed Assets (reconciled through FAR) Intangible Fixed Asset Register/ Summary of Intangible Assets By keeping the codes starred this will allow you to agree the nominal codes to the FAR - helpful when you have more than one asset class and you can see straight away which asset class needs looking into.        
        Mapping Note - Codes ending  00 - cost b/fwd, 01 - additions, 02 - disposals, 03 - revaluations, 05 - depn b/fwd, 00 - depn charge, 07 - disposal depn, 08 - impairment        
Tangible Assets   Tangible Fixed Assets (reconciled through FAR) Fixed Asset Register / Summary of Fixed Assets By keeping the codes starred this will allow you to agree the nominal codes to the FAR - helpful when you have more than one asset class and you can see straight away which asset class needs looking into.
In general we should be importing individual additions into Silverfin to maintain a fixed assets register. However, if there is significant work needed to import the b/f balance, this should be discussed with the manager or partner beforehand.
        
        Mapping Note - Codes ending  00 - cost b/fwd, 01 - additions, 02 - disposals, 03 - revaluations, 05 - depn b/fwd, 00 - depn charge, 07 - disposal depn, 08 - impairment        
Investments   Investments Register investments Summary See here for help        
        Also check mapping and template has been completed per instructions above as majority of issues on this template come from this        
Stock   Stock reconciliation recommended N/A If you have prints or documentation from client use as normal and attach     Here  
Trade Debtors   No rule but when using reports from data best to use standard (default) template N/A Make sure you use reports from the bookkeeping system, review as normal and attach to Standard Silverfin template        
Prepayments   Prepayments N/A Using days instead of months will give you more accurate prepayments, make sure you use the # to drag and drop relevant nominal codes to ensure the journal function can be used. If this is the first year for the client in Silverfin you will need to ensure the data is correct for the previous period to enable the ability for Silverfin to complete automatic adjustment journals - see here for details.     Here  
Accrued Income   Accrued Income N/A Use days instead of months, make sure you use the # to drag and drop relevant nominal codes to ensure the journal function can be used. If this is the first year for the client in Silverfin you will need to ensure the data is correct for the previous period to enable the ability for Silverfin to complete automatic adjustment journals - see here for details.      Here  
Bank Accounts   Bank reconciliation Bank Reconciliation Summary Attach any reports from client software here also, make sure you use the # to drag and drop relevant nominal codes     Here  
Trade Creditors   No rule but when using reports from data best to use standard (default) template N/A If appropriate, use reports from the bookkeeping system, review as normal and attach to Standard Silverfin template.
If you are using “Import reconciliation data” to populate the bottom half of the Trade Creditors nominal reconciliation , you will find it pulls the data out of the ledger as a negative. Even though the balance shows as a negative in the top part of the reconciliation, it requires the bottom half to be complete as a positive to reconcile.  If you have a lot of data in the ledger you want to summarise by supplier to complete the reconciliation, then switch the template to Standard (using the Edit button) and it will then pull the data in positively.
        
Accruals   Accruals N/A Using days instead of months will give you more accurate accruals, make sure you use the # to drag and drop relevant nominal codes to ensure the journal function can be used. If this is the first year for the client in Silverfin you will need to ensure the data is correct for the previous period to enable the ability for Silverfin to complete automatic adjustment journals - see here for details.      Here  
Deferred Income   Deferred Income N/A Use days instead of months, make sure you use the # to drag and drop relevant nominal codes to ensure the journal function can be used. If this is the first year for the client in Silverfin you will need to ensure the data is correct for the previous period to enable the ability for Silverfin to complete automatic adjustment journals - see here for details.      Here  
Bank Loans   Bank Loans Bank Loans / Summary of Bank Loans Follow account template, if you have more than one bank loan ensure these are split the the .001, .002 suffix codes available.     Here  
Hire Purchase   Hire Purchase Summary of Hire Purchase / Hire Purchase Analysis NOTE: if you have more than one HP in a nominal code then there are two options A)  *RECOMMENDED * Split different assets to a separate nominal code each year and complete template on individual nominal codes B) Complete the "Hire Purchase Analysis" Template - this will need to be added in from reconciliations available - speak to your local office champion if you are unsure - This template is not linked to any nominal codes so you do this manually from # function you also need to make sure balances are pulling in on "Summary of Hire Purchase"     Here  
P&L Codes   Standard (default) or disallowed expenses are most commonly used N/A Preparer to star accounts with material movements or tax sensitive codes & should be completed on every job. (However manager on job will review starred accounts so no default as will vary from job to job).      Here  
VAT   Summary of VAT returns / VAT Turnover reconciliation VAT account reconciliation Complete the account templates as directed then complete the VAT account reconciliation to show what the actual balance comprises at the period end     Here  
Payroll   Payroll reconciliation BS / Payroll reconciliation P&L PAYE control account reconciliation Complete the account templates as directed then complete the PAYE account reconciliation to show what the actual balance comprises at the period end     BS Here
P&L Here		  
Current and capital accounts        Various incl drawings, profit share, etc



 Partner capital accounts
Partner current accounts		 Ensure you are consistent and careful in mapping and select the right options (Mapped or Accounts analysis). Also ensure Partners is fully complete.      Here