The Bookkeepers Solution....using modern technology....
-
Upload
nelson-edgerton -
Category
Documents
-
view
220 -
download
2
Transcript of The Bookkeepers Solution....using modern technology....
The Bookkeepers Solution....using modern technology....
Download Bank
Statement
Import into SmartBank
Edit & Auto Allocate
Transactions
Export into Accounting
package
Writing up Cash Books the SmartBank way!
Step 1) Download Bank Statement files
Step 2) Open SmartBank
Step 3) Import Bank Statement file into SmartBank
Step 4) Allocate (Auto) & Edit ledger transactions
Step 5) Export the allocated transactions Step 6) Import into Accounting package(e.g.Pastel) -> Direct Import to Pastel coming soon...
Step by Step – Summary
Step 1) Download Bank Statement files
2) CSV Files – to be updated soon
-Only use as last resort (ABSA problem)-Cannot recognise duplicate transactions
SmartBank can import (NOT PDF):
1) OFX +. OFC Files
- Secure files - Each line has unique number - Avoids duplication of transactions
SmartBank can 1) View and 2) Print downloaded OFX and OFC bank statement files (Pastel cannot view and print OFX/OFC files until imported)
SmartBank will accommodate new bank formats as and when requested or required
Download Bank Statement files (.OFX/.OFC/.CSV) from Internet Bank Account
Search for .OFX/.OFC Preferably (CSV as last resort)
SmartBank can:- VIEW and PRINT OFX and OFX/OFC files- Recognises and avoids duplicate transactions
Rename & Save file on harddrive
After downloading Click on the OFX or OFC file and
view using SmartBank
Print Hardcopy of Statement
Step 2 Open SmartBank
Open SmartBank– 60 day Free Trial
Open Accounting Package + Company
Change Accounting Package
Add Company (+Remove)
Browse C drive or Server ANY Pastel version
Open Company
SmartBank – Before Import of Bank Statement file
SmartBank has 4 menus
1) Top menu
2) Tool Bar menu
3) Filter menu
4) Transaction menu
SmartBank MENUS
Imported Data + Editing layout
Top Menu
The TOP MENU consists of the following helpful SmartBank tools:
•Open Company - From inside SmartBank – Move from 1 company to another •Help - Help Menu•Change - Abbreviations•Maintenance - Global processes including:
1) Delete either the LAST Imported batch or 2) ALL the transactions for a specific bank Account
Open Company – Using TOP Menu
Move from 1 company to another
Help Menu
Maintenance - Global Processes – Delete Imported Bank Statement Batches
Change – Abbreviations
Delete Last Imported Batch - will ONLY delete last imported batch
VERY IMPORTANT!!Delete ALL transactions for Account 11234564, will delete ALL THE HSITORY for this bank account.
TOOL BAR MENU
Statement In - Import
Change – Edit / Process
View - Reports Tools – Settings
Tools – Auto Allocation
Statement Out - Export
Help
BANK FILTER & DISPLAY OPTIONSBank Account
Displayed List
SmartBank can work with Multiple Bank Accounts being used at the same time.
Best to work separately re 1) Deposits Only or2) Withdrawals Only and then 3) View ALL Transactions
-> Final review+ Export
Batch Mode
Date Range
Default mode is - “Show Only the last batch”. The user can also select - “Show all batches imported”
Note that SmartBank’s Export files are also controlled by the start date and end dates on the date Range
TRANSACTION COLUMNS EDIT MENU
Transactions menu detail
Imported from Bank Statement- Date - Bank Statement- Bank Description - Bank Statement- Amount - Bank Statement
Manually / Auto Allocated by user- Exp - - Export this Transaction – Ticked () by Default
–> Unticked will NOT Export by default- GCS - G - General ledger
- C - Customer- S - Supplier
- Account - Allocated to GCS account - Tax (Vat) - If Applicable- Ledger Description - Edit if required- Account description - Generated by SmartBank after Account allocated- Reference - Generated by SmartBank- Cost code - Cost or Project Code – if required- Rec - - Record as Reconciled – Default is NOT Ticked as this field is not used in Pastel
SmartBank MENUS
Step 3 Import Bank Statement file
1) Browse for bank file to import-> OFX/OFC Prefs (CSV files ok)
2) Select Cash Book account
The bank account selected here stays as the default account for this account number.
Thereafter, SmartBank will ONLY import Statements with this account number for this bank account.
3) Preview (& Print) Bank Statement
Print Bank Statement - Hardcopy
Then “Accept” and SmartBank will import the Bank Statement as follows:
Step 4) Sort, Allocate + Edit Accounts
Deposits – BLUE Withdrawals / Payments - BLACK
Editing includes
◦ Allocating to: Ledger, Customers & Suppliers accounts Vat – if applicable
◦ Editing Ledger Description – if required (Pastel-> Max 40 characters
◦ Cost centre & References if required
Edit & Allocate transactions
Select – Display List - Deposits Only
Select– Display List – Withdrawals/Payments Only
Edit and Processing Tools SnapshotEDIT MENU Right Click – Pop Up Transaction
menu
Process menu
Edit Menu
EDIT Transactions - Details
Split Current Transaction
Edit the transaction pop up window as follows using a) to e) below
Then the transaction split appears as follows:
In a same manner, similar transactions can be grossed up & split as follows:R3000 is allocated to the Customer – 600 discount etc = R 2200 net
Remove Current Split Transaction
First click on the transaction line that needs to be Removed or Edited as follows:
The same Split Transaction window pops up.
Then removed row is shown as follows:
Then follow steps 4) to 7) as shown below:
The resulting partial (or full) removal looks like this:
Search
Clear Screen
CLEAR SCREEN option will clear the screen of previous batches imported but will NOT delete it.
Copy & Paste
1) Edit menu - Copy (Ctrl C) and Paste (Ctrl V) or 2) Using Mouse - Right Click, Copy and then Paste:
PROCESS MENU
Save Whole or part of Bank Description for Auto Allocation
See Auto Allocation below:
Fill blank accounts with Defaults
Will Auto Allocate ALL the unallocated Ledger accounts to the “Default Account Codes” for unallocated “Deposits” or “Withdrawals” suspense accounts in the accounting package being exported into.
Blank Accounts
Filled with default Suspense Accounts
NOT used for Pastel
Additional field if required:◦ for Export/Data sort◦ Export to Excel etc
Reconcile Menu Options
Export – Allocated Accounts Only
Sort Columns - Match like items
Auto Allocate - Saving & Auto Allocating Recurring transactions
Abbreviations - Ledger Descriptions
Copy / Paste - Ledger Accounts & “Descriptions”
Let SmartBank Intelligently Speed up Allocations & Editing with:
Select Display List + Sorting Columns -> Deposits or Withdrawals Only1) Select transaction from Display List
2) Sort and match like transactions by Date or Bank Descriptions
3) Start Allocating and editing transactions
“Auto Allocation List” -> Saving Recurring transactions
Step 1 - Allocate and fully EDIT the FIRST transaction
Step 2 - Highlight the Recurring Whole or Part of the “Bank Description”
Step 3 - Select “Save Whole or Part” of the Bank Description for Auto Allocation”
The saved recurring transaction will be SAVED to the Auto Allocation menu as follows:
Step 1 - Allocate and fully EDIT the FIRST transaction
1)Allocate the a) Ledger account b) Tax code (if applicable) in the FIRST transaction2)Edit the “Account Description” if required for the Ledger account being allocated 3)If required, edit the Reference and Cost Code
Step 2 - Highlight the Recurring Whole or Part of the “Bank Description”
Step 3 - Select “Save Whole or Part” of the Bank Description for Auto Allocation”
- Right Clicking after highlighting the selected whole of part of the Bank Description.- Process and then “Save Whole or Part” of the Bank Description for Auto Allocation”
All the current batch transactions will be “Auto Allocated”
The transaction will be SAVED to the Auto Allocate List as follows:
The next bank statement import will Auto Allocate the SAVED transactions as follows:
Abbreviations
Abbreviations – Set-up, Editing and storing
Copy & Paste
1) Edit menu - Copy (Ctrl C) and Paste (Ctrl V) or
2) Using Mouse - Right Click, Copy and then Paste:
Ready to Export – Check list:
1) All required transactions are ALLOCATED to Ledger ACCOUNTS (GCS)2) All Allocated transactions are TICKED ()3) All UNALLOCATED transactions not to be Exported are UNTICKED ()
Before EXPORTING –> Display menu Settings are NNB:
If set on:
Show ALL Transactions ◦ BOTH WITHDRAWALS AND DEPOSITS will be
Exported
DEPOSITS Only ◦ ONLY DEPOSITS will be Exported
WITHDRAWALS Only ◦ ONLY WITHDRAWALS will be Exported
Step 5) Export Deposits &Payments batches from Smart Bank
1) Select Export Type
2) Browse Location+Rename File
Default folder
location“To Import”
Step 1) “Browse Location” – will default to the subfolder “To Export” of the Pastel company. Any alternative folder entered will
become the new default folder Step 2) Select and edit the File Name to be Exported manually. Note: The above steps, which are
currently combined, will be made into 2 separate Steps in the near future
3) Ready to Export
Export also includes Options to:
1) “Print Statement” / Document of files to be exported2) Archive Exported to History
-> Saves all exported transaction to SmartBank History
Export completed
By default, the files will be Exported to the “To Import” sub folder of the company
4a) Locating viewing Exported files
To VIEW and see the CONTENT of the exported file, go to the “To Import” folder and view the “CBPymt+Date+Time” and the “CBRept+Date+Time” files CSV format as follows:
4b) Viewing exported batch in SmartBank
Step 5 – Process “After Export” Options
•“Print Statement” - Print a statement summary of the files exported
•“Archive Exported to history” - Will freeze the transactions and - Will be removed from the active list and
- Saved to the Archive History file on SmartBank.
Export error messages and solutions
•Ledger Descriptions longer than 40 characters
•Blank or Entry Account codes that have not been allocated
Either: 1) Allocate All the Blank or Allocated Accounts Or 2) UNTICK ALL the accounts that are Blank or unallocated and should NOT BE EXPORTED
Date out of Financial Year
Export error messages and solutions (continued)
1) Choose the correct Cashbook Payments or Deposits screen 2) Click on “Batch” and then “Import” at the bottom of the
page
3) Select the correct file Exported from SmartBank
Step 6) Importing into Accounting Package
4) Click on “Import”
5) Click on “Process”
6) Check imported Payments and Deposits :a) Transactionsb) Totals
7) Do a manual Reconciliation:a) Before Importb) After Import
Step 6) Import the Cashbook files into your accounting package (e.g. Pastel)
Check that Bank Reconciliation balances
SmartBank V2
Reconcile the cash book to the bank statement
Any small, medium or large business
With lots of Cashbook and Credit Card transactions to process
Accounting and Bookkeeping businesses using:
◦ Using any of the multiple accounting packages◦ Lots of bank statement transactions to process
SmartBank is ideal for:
Forced to take support contract on ALL Pastel modules
Must upgrade to the latest Pastel version V11
Pastel costs:
◦ R2550 for Bank manager ◦ + R1060 per year thereafter◦ Compulsory Cover -> Costing another R2600 to
R5000 a year and more
Pastel charges are follows:
R1600 per PC
R900 per year thereafter
Free self help
Free Manuals Videos Frequently asked questions And more
Telephonic and onsite support is separate and optional ◦ at R500 ish per hour ◦ JHB support centre is in the process of being set-up
SmartBank costs only:
Nedbank is the only bank that can go back 30 months or more
Other Banks can only 3 to 6 months
Solution
◦ Teach / Educate clients into this new way of thinking!
◦ Ensure clients to regularly download Bank statement files daily, weekly monthly or bi monthly
◦ Rename files meaningfully
◦ Save and backup downloaded Bank files in a regular folder on C: drive
Downloading bank transaction history files is the KEY!
Nedbank is the only bank that can go back 30 months or more
Other Banks can only up to 6 months
Solution
◦ Teach + ensure clients download Bank statement monthly or bi monthly
◦ Rename files meaningfully
◦ Save in a regular folder
Downloading bank transaction history files is the KEY!
Electronic processing is the only solution...
Bank statement downloading and storage to:◦ Become the norm◦ Banks need to keep history – 3 to 5 years◦ Clients need to download and save OFX and OFC
files monthly (CSV is a fallback option)
◦ Accountants must EDUCATE and HELP clients...to the NEW way of Accounting!!
The future of Accounting...
SmartBank Solution (Pty) Ltd
Directors - David Hartley and Syvain NtumbaReg No: 2012/097293/07
26 Country Club Road P O Box 45100Kenilworth, 7800 Claremont, 7945
Phone +27 (0)82 06 12300 / 021 – 683 8333Fax +27 (0)86 684 8660Email [email protected]
Website www.smartbank.co.za
JohannesburgTo be announced soon