Incorrect opening balance in a client file synching from a specific date
When setting up the synchronisation of a client file, Silverfin will start synching from the file’s starting date by default (the first day of the first fiscal year). You can also start synching from a later date, provided the date is the first date of a new fiscal year. If you choose to synch from a specific date of choice, it is important to know that this can have an impact on the opening balances.
If you try to synch from a specific date (not the first day of the first fiscal year), Silverfin will download the opening balance from your accounts software program one time. This happens when setting up the synch.
Since the synch was set up to ignore the accounts data before the specified date, the opening balance won’t be updated either, even if changes in the accounts are made that have an effect on this. The opening balance is therefore the sum of all the values from the time before the specified date, and when setting up the synch Silverfin was asked to ignore these values. Resetting the synch won’t change this.
If you want to obtain the correct opening balance on Silverfin, you need to do a synch from the same starting date. This will trigger the download of the opening balance again, and you will obtain the correct numbers.
If this fails or if you still receive the incorrect values after you have followed the above procedure, please contact our support team email@example.com