Accounts Production Software for Firms
Silverfin's accounts production software streamlines year-end accounts preparation for firms by automating data integration from clients' bookkeeping systems, enhancing accuracy and compliance with AI-powered checks and iXBRL tagging, reducing manual effort by up to 50%, facilitating seamless collaboration and electronic submissions, and integrating with major financial software to improve efficiency and enable advisory services.
Create consistency more efficiently
Improve accuracy, reduce wasted work, and complete year-end accounts faster with automated and standardised templates. Live data from the client’s bookkeeping system automatically flows into working papers templates and disclosure notes. If the working papers or source data changes, the client file is automatically updated as well.
Complete year-end accounts faster
Ensure accuracy, improve consistency, and reduce unnecessary work with smart schedules. Powered by automation and AI data checking, Silverfin enables live data from your client’s bookkeeping software to ensure accuracy and compliance, while automation reduces manual effort.
With Silverfin, accountants can reduce the time spent on client files by up to 50% across a diverse range of client types, such as limited companies, sole traders, partnerships, and LLPs.
Improve compliance and work quality with automation
iXBRL tagging accurately embeds financial data with machine-readable tags, ensuring financial statements are consistent and fully compliant with regulatory standards.
Using Silverfin’s Working Papers for Accounts Production filings means always working with the most up-to-date client data. Templates are updated in line with regulatory changes, removing the risk of working with out-of-date numbers or submitting inaccurate filings.
Easy collaboration and information sharing
Communicate efficiently with colleagues using integrated review and collaboration tools. Designed to reduce frustrations often experienced with multi-user and multi-team file inputs, Silverfin makes final accounts quicker and easier to achieve.
Final accounts can be shared with clients via the Silverfin Pulse Portal and submitted electronically to Companies House with just a few clicks.
Automate core accounting work
Silverfin integrates with leading financial software to simplify day-to-day work and unlock new revenue opportunities through value-added advisory services. With per-client file pricing, a modern interface, and simple implementation, it’s easy to drive value.
The entire team can access the information they need, when they need it, to streamline core accounting processes such as accounts production using cloud-based software — all enhanced by AI and automation to eliminate errors and create additional capacity.
Massive process efficiency… reduced human effort.
“We’ve also unlocked a massive amount of process efficiency through integrating technology and, ultimately, reduced human effort.”
Alastair Barlow • Founder and Chief Dreamer • flinder
FAQs
How does Silverfin simplify the process of preparing MTD-compliant accounts using live data and automation?
With live client data stored in the Silverfin Hub, it’s easy for the entire team to access the latest information and streamline core accounting work. With everyone working on the latest client data, wasted work is avoided while automation eliminates errors and creates capacity.
This means everyone in the firm can prepare and submit MTD-compliant statutory accounts in a fraction of the time with smart templates, including relevant notes and disclosures, all automatically pre-populated with the latest data from Working Papers.
What types of financial statements can be produced using Silverfin’s Accounts Production software?
With Silverfin post bookkeeping software, firms can create financial statements for a wide range of client types and legal entities. The software supports automated, compliant financial statements for limited companies (FRS102, FRS102 1A and FRS105), unincorporated sole traders, partnerships, and Limited Liability Partnerships. Best practice accounts production templates save hours with data automatically flowing from working papers and automatic iXBRL tagging.
How does Silverfin ensure accuracy and up-to-date information in financial reports?
Improve accuracy, reduce wasted work, and complete year-end accounts faster with automated and standardised templates. Live data from the client’s bookkeeping system automatically flows into working papers templates and disclosure notes. If the working papers or source data changes, the client file is updated automatically.
Can you describe the iXBRL tagging process with Silverfin’s Accounts Production software?
Save hours with automated iXBRL tagging for statutory accounts. Final accounts can be shared digitally with clients via the Pulse Portal and can be electronically submitted to Companies House in just a couple of clicks.
How does iXBRL tagging work in Silverfin’s CT600 software?
All data that passes through the Silverfin Hub benefits from AI mapping to a standardised chart of accounts and comes with standard reporting, including P&L, Balance Sheet, and Key Financial Metrics that can be branded.
Innovative firms can use Silverfin Assistant, an AI advisory tool, to create further capacity by automatically analysing client files and supporting junior staff training. The AI-powered Assistant constantly analyses data, finding outliers, errors, and opportunities in client files, and suggests corrective or follow-up actions for preparers. This improves data quality and helps junior staff develop their skills via AI prompts.
Preparation of year-end accounts is also made more efficient thanks to Silverfin Assistant, which improves data quality and finds advisory opportunities in client data, constantly analysing client files for outliers or errors and suggesting corrective or follow-up action for preparers.