It often happens that a financial year needs to be adjusted in Silverfin. Up until now you always needed to contact our support to do this for you, but you can edit this from now on yourself in many situations.
You can change the financial years by going to 'edit client' and visiting the 'periods' tab.
You will see this warning above the overview of the financial years: By unlocking your fiscal years, you will be able to amend these dates. Furthermore, you can amend the first date and end date of the opening year, or the end date of the subsequent years. In some cases, Silverfin will still need to make some additional changes, In which case you'll have to contact the support team.
In a synced file
When a file is connected to a sync, the financial years are being pulled in via the sync. That is why it is necessary to first select "Manually set the fiscal years".
Once this is done you will be able to adjust the years in the same way as in manually uploaded files, see below for the next steps.
In a manually uploaded file
You will be able to adjust the years by clicking on the date you want to change. A calendar will pop up, or you can type in the new date:
You will need to click on 'Save changes' to lock these new dates in.
If you make any changes to the financial years that require the ledgers in the background to be realigned, you will receive a pop-up with a list of the affected ledgers, and a message asking you to contact our support team. Adjusting the ledgers isn't possible at this time.
You will also receive helpful warnings when Silverfin detects an adjustment that it deems as wrong, such as this:
Opening balances and Retained Earnings
As soon as you followed the steps from above, you can choose for each year if the opening balances need to roll forward or not:
And if the retained earnings need to be brought over:
Only available in specific markets like UK, NL.
Remember to click 'Save changes' to lock any changes in.
