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The Reconciled via Lease liabilities template is a lightweight, link-through account template for the nominal accounts holding a lease liability. Rather than taking its own data entry, it identifies which category of lease liability the account represents (due within one year, or due after more than one year) and reconciles the account balance against the matching figure already calculated in the Lease liabilities template.

Table of contents 

When should I use this template?

Apply it to the nominal account that holds the "leases due within one year" or "leases due after more than one year" balance, once the Lease liabilities template has been added to the workflow and populated. Silverfin recognises the account from its nominal code; if the template is applied to an account outside the recognised lease liability ranges, it warns you and marks the account unreconciled until a different account template is selected.

Before you start

  • Make sure the Leases Data template has been added to the workflow, is starred, and has the relevant leases entered.
  • Make sure the Lease liabilities template has been added to the workflow from the template shop and has been populated. This template links straight through to it and has nothing to reconcile against until it has.

Background

Lease liabilities are presented on the balance sheet split between the amount due within one year and the amount due after more than one year, in the same way as other borrowings. Rather than repeating that split's calculation, this account template simply displays and confirms the relevant part of it against the specific nominal account it has been applied to, so the balance sheet presentation is evidenced without a second working paper.

Steps

  1. Account category check. When the template is applied, it checks whether the account sits on a recognised nominal code for lease liabilities due within one year, or due after more than one year. If it doesn't, a warning explains that the template should only be used on a Lease liabilities account, and the account is flagged as unreconciled until either a different template is selected or the correct account is used.
  2. Confirm Lease liabilities and Leases Data are set up. If the Lease liabilities template hasn't been added to the workflow yet, a warning tells you to add it from the template shop. If it has been added but the underlying Leases Data template hasn't been populated with leases, the account is marked unreconciled with a warning to add the data there instead.
  3. Review the reconciliation. Once both are in place, a table shows the account's category (leases due within one year, or leases due after one year); the closing balance for that category as calculated in the Lease liabilities template, shown as a link that takes you straight to the relevant section of that template; and a reconciled indicator comparing this account's balance against that figure.

There's no data entry on this template itself. Every figure comes from the Lease liabilities template, and the only thing this template does is confirm which category the account belongs to and check the two agree.

What flows through to the rest of the accounts/workflow?

Nothing new is calculated here. The template confirms that the relevant "due within one year" or "due after one year" figure already produced by the Lease liabilities template agrees with what's posted to this nominal account, evidencing the balance sheet's current and non-current split for lease liabilities.

What rolls forward next year?

There's nothing to roll forward, as the template has no data entry of its own. Each period it simply re-checks the account's category against the nominal code ranges and re-links to that period's figures from the Lease liabilities template.

Where the data comes from

The closing balance for each category comes entirely from the Lease liabilities template, which in turn is populated from the Leases Data template. The nominal code ranges used to identify which category an account belongs to are a trial balance mapping.

Frequently asked questions

Why does it say this account template should only be used on a Lease liabilities account?

The account you've applied it to doesn't sit on a nominal code Silverfin recognises as a lease liability due within one year or due after more than one year. Check you've applied it to the correct account, or choose a different account template if it isn't one of these.

Why is nothing showing in the table?

Either the Lease liabilities template hasn't been added to the workflow yet, or it has been added but the Leases Data template hasn't been populated with any leases. Both need to be in place before there's a figure to reconcile against.

Can I select which lease this account relates to?

No, there's nothing to select. The template reconciles the account against the combined total for its category (due within one year, or due after one year) as calculated across all leases in the Lease liabilities template, not against an individual lease.