You've reached the stage where you need to process some adjustments in Silverfin. This article will outline how to go about doing this and what needs to be done in your underlying bookkeeping system.
Adjustments can be accessed / processed in 2 ways:
1. On your client's landing page through selecting 'Adjustments':
2. Within an account itself by selecting 'New adjustment':
When processing an adjustment within an account, Silverfin will automatically populate part of the journal detail based on the account you're in:
Don't forget to click 'Add' once you're done!
You are also able to import adjustments using an Excel file. For further information on how to do this, read this article.
Now that all your adjustments processed, what do you do?
The next stage is to post the adjustments.
1) Go to the Adjustments tab on the client's landing page:
2) Click Download / Upload. By doing this you can download an XLS file which will then need to be uploaded into your bookkeeping system (E.g. Xero)
IMPORTANT TO NOTE: Whilst Silverfin syncs data from your bookkeeping system into Silverfin, the reverse of this does not take place. Therefore, it is necessary for any adjustments processed in Silverfin to be processed in your bookkeeping system.
Please also note: Adjustments are only applicable to the period in which you made them. They will not be transferred to the next period. They can however be copied from one period to another.
But won't the adjustments then be processed twice in Silverfin?
Although your client may be elated to see two adjustments increasing their profit, we know this isn't correct! This leads us to the last (vital) step in the adjustments process - telling Silverfin that the adjustment has been processed in the underlying bookkeeping system:
On your Adjustments tab, click ' Actions' -> 'Mark all adjustments as posted'
If you have any questions please let us know. We are always happy to help :)
Otherwise, happy journalling!
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