Opening Balances and Retained Earnings

Whether you set compute_opening_balances and compute_retained_earnings to true depends on your specific setup:

• compute_opening_balances: Set to true only if the Opening Balance is not part of your transactions. Silverfin will calculate it automatically.
• compute_retained_earnings: Set to true if the Retained Earnings are not part of your transactions. Silverfin will calculate the Retained Earnings automatically. Note that this function is not available for BE customers and should be set to false by default for Belgium.

Handling Partial Data Push

Q: If we push only a limited number of years instead of all available years, how does Silverfin determine the initial Opening Balance?

A: For partial data pushes:

1. First Year: Include the Opening Balance as a regular transaction in the first financial year you're pushing to Silverfin.
2. Subsequent Years: Do not include the Opening Balance for all years after the first.

This ensures Silverfin establishes the correct starting point and maintains accurate calculations throughout all subsequent years.