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This article outlines common rounding differences in Silverfin’s fixed asset templates and offers guidance on how to handle them. A summary table shows how each element is rounded across different areas  of your Silverfin workflows.

Table of contents 

• Fixed asset note vs CT return - Additions and disposals 
• Fixed asset note vs Detailed P&L - Depreciation charge
• Corporation tax computation - Individual additions/disposals vs total additions/disposals
• Overview of Silverfin Rounding Treatment 

Fixed asset note vs CT return - Additions and disposals 

• By default, the treatment for both the fixed asset note in the accounts and the corporation tax computation apply the same rounding logic so these two should always tie up with each other. However, due to the fact that the additions and disposals values on the fixed asset note in the accounts are editable, in some cases, users may manually overtype these values. 
• You can see when a value has been edited by the orange strip in the left corner of the cell. If you click into the cell, it will give you the option to return the value to default.

Our suggestion:

• If this is the case, we suggest that the value in the fixed asset note is returned to its default value and any other rounding differences are cleared by making a rounding adjustment directly on the fixed asset register, for example by adding any differences to an existing asset line on the register.

Fixed asset note vs Detailed P&L - Depreciation charge

• The fixed asset note in the accounts will take the rounded total of the depreciation charge for each asset class and then the total of the rounded values shown in the total column. 
• However, depending on how the depreciation journals are posted it may be that the depreciation for each asset class is added together and then rounded when pulling into the detailed profit and loss. This difference in rounding logic for these two separate statements can lead to rounding differences between the two.
• As shown in the image below, the first figure will be rounded down to £99 with the second being rounded down to £50, showing a total depreciation charge per the fixed asset note of £149. However, if both of these depreciation amounts are posted to the same account code, they will be added together and rounded to £150, causing the £1 rounding difference.

Our suggestion:

• We suggest that the user double checks the depreciation charge total stated on the fixed asset note and the detailed profit and loss statement. If there are any differences, then a journal adjustment entry can be made to clear the rounding difference with any minimal amount written off somewhere else in the profit and loss.

Corporation tax computation - Individual additions/disposals vs total additions/disposals

• The additions/disposals totals are taken from the fixed asset register and rounded to be pulled into the corporation tax computation. This will provide the relevant value which ties up to the accounts.
• However, it is also the case that for the purpose of analysis on the corporation tax computation, the additions/disposals need to be pulled through from the fixed asset register individually and are rounded. Having to report both the total and the detail in rounded values leads to inevitable rounding differences in some cases. 

Our suggestion:

• Unfortunately there is nothing that can be done about these differences and they are simply highlighted by way of a ‘rounding differences’ line on the computation. There is the ability to hide this line on export but it does however mean that looking purely at the export, the values won’t cast. This is an optional display preference and something some customers have favoured over showing the ‘rounding differences’ line on the export. 

Overview of Silverfin Rounding Treatment 

The below table offers some context as to how the different fixed asset figures feed into the accounts and corporation tax return and how they are rounded.