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The Reconciled via ROU assets template is a lightweight, link-through account template for the nominal accounts holding a right-of-use asset. Rather than taking its own data entry, it identifies which asset class the account represents (Land and buildings, Plant and machinery, or Motor vehicles) and reconciles the account balance against the matching net book value already calculated in the ROU assets template.

Table of contents 

When should I use this template?

Apply it to the nominal account that holds the right-of-use asset balance for one of the three recognised classes, once the ROU assets 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 right-of-use asset 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 ROU assets 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

Right-of-use assets are depreciated and presented on the balance sheet by asset class in the same way as other fixed assets. Rather than repeating that depreciation and reconciliation, 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 Land and buildings, Plant and machinery, or Motor vehicles right-of-use assets. If it doesn't, a warning explains that the template should only be used on a ROU assets account, and the account is flagged as unreconciled until either a different template is selected or the correct account is used.
  2. Confirm ROU assets and Leases Data are set up. If the ROU assets 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 asset category, the closing net book value for that category as calculated in the ROU assets 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 ROU assets template, and the only thing this template does is confirm which category the account belongs to and check that the two agree.

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

Nothing new is calculated here. The template confirms that the closing net book value already produced by the ROU assets template for the relevant asset class agrees with what is posted to this nominal account, evidencing the fixed asset balance shown for right-of-use assets.

What rolls forward next year?

There's nothing to roll forward, because 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 ROU assets template.

Where the data comes from

The closing net book value for each category comes entirely from the ROU assets 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 ROU assets account?

The account you've applied it to doesn't sit on a nominal code Silverfin recognises as a Land and buildings, Plant and machinery, or Motor vehicles right-of-use asset. 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 ROU assets 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 net book value for its asset category as calculated across all leases in the ROU assets template, not against an individual lease.