Balance Sheet and P&L analytical reviews

The analytical review working papers provide a great way for you to see the period-on-period variances (i.e. month-on-month, quarter-on-quarter, year-on-year) between your nominal accounts or groups, and allow you to add commentary for your clients!

Step 1: Define your periods and how you'd like the data to appear

1. Comparison & Format

  • If it is a monthly client file, you can select whether the comparison is performed yearly, quarterly or monthly. 
  • For a quarterly client file, the comparison choice is either quarterly or annual.
  • And lastly, for an annual client file....I think you get the gist!
  • In terms of the format, you can either show the data as Year To Date (YTD) or Period to Date (PTD). Not sure what this means, read this article!

2. Show original accounts

'Yes' means that the underlying bookkeeping system's nominal account numbers will reflect on the working paper.

'No' means that the Silverfin nominal account numbers will reflect on the working paper.

3. Rounding of accounts

The values in the working papers can either be reflected in ones, thousands or millions.

For example, if the total 'Assets' value is £439 432, it will appear as follow given the different selections:

Ones: 439,432

Thousands: 440

Millions: nothing will reflect

The working paper is pre-populated based on the values in the underlying nominal accounts in Silverfin. it will show several column headers:

- Current period (i.e. the period in which you are performing the work);

- The prior period/period of comparison;

- The value of the period-on-period variance (in the chosen currency);

- The % variance; and

- A 'Comments' box to explain any material variances (this field is not mandatory).

Step 2: Define the level of detail you'd like to see and get the job done!

The level of detail you choose to view the analytical review templates in is completely up to you! You can choose to analyse the accounts on a group level (e.g. 'Assets' which may include 10 asset nominal codes) or to a more granular level (e.g. each and every nominal code).

To see a higher level of detail, simple click on the tick box next to the group name, press 'Enter'/save and the next layer of detail will appear. Repeat this process until the desired level of detail is reflected.

You don't need to do this every period, if you copy details, then the tempalte will remember how much you have expanded or collapsed a report!

Note: If the text in the working is blue, this means it is hyperlinked so clicking on it will shoot you off the the underlying nominal code in Silverfin. Nifty for when for when you can't remember why the value of an account has changed so much (you're welcome!).

As always, contact the support desk or your CSM if you need any assistance!

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