Silverfin has designed a Fixed Asset Register (FAR) and an Intangibles Asset Register (IFAR) to help you track the NBV of your customer's assets. These templates can be rolled forward period after period, and will automatically calculate depreciation and NBV etc. There is also a configuration that your CSM can add which also allows you to post the required depreciation adjustment and disposals adjustment directly from the template into Silverfin.
When populating your Asset Registers within Silverfin, you can manually type in the required information, but if there are a large number of assets, it is best practice to upload your existing Asset Register (often documented in Excel) into our Silverfin template, and this is very simple!
To access the FAR and IFAR, use Control+J to 'jump' directly to them, or access them through your Working Papers workflow.
The import template can be downloaded directly from the FAR or IFAR:
You can also download it at the bottom of this article - see attachment "FAR/IFAR Upload template".
Please note the the system looks at the column headers to bring the information into the right place. We would recommend starting from the example template linked above. If you use this template the system will automatically match the headings from the template to the correct column in the FAR or IFAR in Silverfin. We have also created a template with additional guidance for you to reference - see attachment "FAR/IFAR Additional Guidance"
Step 1: Get the right columns in your Excel FAR / IFAR
- Ensure you have clear column headers; when you upload an Excel document into Silverfin, the system looks at the column headers to bring the information into the right place, so you need to make sure that your Excel Asset Register has column headers in Row 1
- The main columns required are:
- Acquisition Date. Please use dd/mm/yyyy for the format of the date.
- Acquisition Cost
- Opening Accumulated Depreciation
- 'sl' vs 'rb' (to differentiate between Straight Line ('sl') and Reducing Balance ('rb')). Please note that sl and rb are case sensitive so please user lower case letters.
- Useful life - (when using Straight Line and referring to the years, please use numbers (E.g. 3.5 for 3 years 6 months), and when using Reducing balance and referring to the % please use decimals for (E.g. 0.25 for 25%)
- You can capture other information in bulk (E.g. Description, Disposal information, Residual value etc), or you can add these manually once the information is within Silverfin
- If you want to upload disposals or Hire Purchase, then please upload the word 'true' in your Excel import
Step 2: Format your Excel in the right way!
- Depreciation needs to be a negative number (use the minus sign here!)
- There should be no commas in the numerical figures (it is best to use only 2dp)
- Make sure there are no breaks in the data (no blank lines in the middle of your data set)
Step 3: Separate your asset classes
- Silverfin separates the Asset Register into various asset classes, and therefore you also need to separate your upload into different documents to match this
Step 4: Upload your Excel FAR
- Silverfin will bring through the net book values of all applicable assets so you can see which asset classes have data associated with them. A summary of the nominal codes that relate to that asset class will also be shown i.e cost , depreciation etc. You also get an indicator of whether that value has been reconciled
- In the top right, select 'Actions' and then 'Import Reconciliation Data'.
- You will then be able to 'Upload Excel File'. This will allow you to browse your computer so you can upload the relevant document- the fixed asset register you prepared earlier!
Step 5: Match your asset classes and column headers
- You need to select the correct asset class from the 'Collection' dropdown i.e Land and Buildings or Office equipment. You can see the example below on the Tangible Fixed Asset Register- we have selected 'Plant and Machinery'.
- You then need to match the relevant columns from your excel document to the columns in the Silverfin Asset Register template (this is why it is important to have clear column headers).
- Hit 'Replace data' to replace any existing data with your manual upload, or 'append to data' to add to any existing data. As mentioned above, if you want to post your depreciation/amortisation or disposal adjustments directly from these registers, then please let your CSM know and we can switch this configuration on for you!ImageClick to add an image.