{"id":63053,"date":"2024-09-23T16:30:42","date_gmt":"2024-09-23T16:30:42","guid":{"rendered":"https:\/\/silverfin.com\/?p=63053"},"modified":"2026-02-17T05:32:39","modified_gmt":"2026-02-17T05:32:39","slug":"the-best-of-both-worlds","status":"publish","type":"post","link":"https:\/\/silverfin.com\/en-gb\/resources\/the-best-of-both-worlds\/","title":{"rendered":"The best of both worlds – combining Excel and Silverfin"},"content":{"rendered":"\n

Look, we get it. Not every accountant out there is ready to ditch their trusted, proficiently built spreadsheets. In fact, 1 in 6 UK accountancy firms still recommend Excel for their clients to keep track of their bookkeeping.<\/p>\n\n\n\n

Well, at least they were in 2019 \u2013 which is when research consultants at Censuswide carried out that survey. But we\u2019re sure some firms still use Excel.<\/p>\n\n\n\n

It might surprise you, but many of our clients do as well. And we don\u2019t blame them. Excel is still a useful, versatile programme, and for many of them it\u2019s the first tool they mastered \u2013 and the one their clients are familiar with.<\/p>\n\n\n\n

Interestingly, they understand where Excel performs well for them, and keep using it to enhance support in specific, niche cases. Combining it with Silverfin, they\u2019re leveraging the strengths of both tools. Smart, right?<\/p>\n\n\n\n

Striking the right balance for your firm<\/h2>\n\n\n\n

Clients who want to make the most out of the winning combo usually do so by using Excel to support their core Silverfin records. This way, they can leverage the comprehensive benefits of Silverfin (such as standardised working papers<\/a>, cloud access and automation) while still accommodating specific client needs with customised Excel schedules.data synchronisation.<\/p>\n\n\n\n

Read more: Moving beyond Excel for working papers \u2013 an introduction<\/a><\/em><\/p>\n\n\n\n

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Answer to unique requirements<\/h3>\n\n\n\n

Silverfin is designed to handle 100% of client files, ensuring accuracy and compliance across the board. For clients with bespoke needs or specific workflows, Excel can be utilised to create custom schedules that complement the Silverfin core records.<\/p>\n\n\n\n

This integration allows for extensive customisation without sacrificing the streamlined efficiencies provided by Silverfin.<\/p>\n\n\n\n

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Add-ons to client files<\/h3>\n\n\n\n

If a client prefers a particular format for their fixed asset register, complex and customised Excel sheets can easily be attached to the client file within Silverfin.<\/p>\n\n\n\n

This approach maintains the integrity and accessibility of Silverfin while incorporating the use of Excel.<\/p>\n\n\n\n

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Excel in your workflow<\/h3>\n\n\n\n

Once you get started with Silverfin, Excel can still play a role in your life for bespoke calculations and custom schedules.<\/p>\n\n\n\n

However, it\u2019s worth considering whether these are genuinely necessary or remnants of past habits and inefficient processes. Silverfin\u2019s robust features may render many of these Excel uses obsolete.<\/p>\n\n\n\n

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It\u2019s all about the journey<\/h2>\n\n\n\n

Change is most effective when implemented gradually, step by step. So, we recommend starting with the most significant, simplest changes to see immediate gains. Evaluate how Silverfin performs for your firm and, as you experience its benefits, continue migrating more processes. Our per-file pricing model supports this gradual transition, ensuring you only pay for what you use.<\/p>\n\n\n\n

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One of our clients recently talked about this type of journey:<\/h3>\n\n\n\n
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\u201cWE LET SILVERFIN SOFTWARE HANDLE THE HEAVY LIFTING\u201d<\/strong><\/p>\n\n\n\n

\u201cFrom the beginning of our journey with Silverfin, we knew we wanted working papers and accounts production<\/a> to be seamlessly integrated. Now, we\u2019re continuing our journey to include corporation tax as well, all within one product. The idea is to duplicate less work by doing everything within the same system. It\u2019s all nicely linked, and if we need to export information out of Silverfin, we can reimport it into QuickBooks easily.<\/p>\n\n\n\n

There\u2019s also another crucial aspect we wanted. I\u2019m talking about the triggers enabled by the Silverfin Insights functionality. Although we haven\u2019t started using them extensively yet, these triggers allow us to set metrics. For instance, if a client\u2019s cash balance drops below a penny, it can trigger an alert, prompting us to offer additional services like cashflow management or advice. Similarly, if a director\u2019s loan account is overdrawn, it can alert us to consider the risk and take necessary actions.<\/p>\n\n\n\n

The prospect of all these functionalities prompted our step-by-step journey, as we wouldn\u2019t have gotten this with Caseware. We aim to use Silverfin software to handle the heavy lifting, rather than hiring more people to do that work.\u201d Martin Bugg, Partner at Larkin Gowen<\/a><\/strong><\/p>\n\n\n\n

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Key functionality using Excel or Silverfin across key <\/h2>\n\n\n\n
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Wrapping things up<\/h2>\n\n\n\n

Why the time for change is now.<\/h3>\n\n\n\n

Excel has served us all well over the years, but it\u2019s time to embrace the enhancements available in other tools now. With client demands increasing, competition growing fiercer and the complexity of your business inflating over time, Excel simply can\u2019t meet those needs and a complete reliance on it will damage client and employee satisfaction.<\/p>\n\n\n\n

To power your long-term growth and drive success in the digital age, the time has come to embrace the benefits of cloud-based financial reporting and compliance software.<\/p>\n\n\n\n

<\/p>\n\n\n\n\"Download<\/a><\/span>