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David Hartley SAIPA member Articles at BDO Spencer Stewart

David Hartley SAIPA member Articles at BDO Spencer Stewart Work as Financial Manager in a few companies Started Pastel in Cape Town in 1990 Designed: All charts of accounts in Pastel Pastel Auditor Worked with a few accounting firms... Became the Creative Accountant!!. Bookkeeping..... .

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David Hartley SAIPA member Articles at BDO Spencer Stewart

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  1. David Hartley • SAIPA member • Articles at BDO Spencer Stewart • Work as Financial Manager in a few companies • Started Pastel in Cape Town in 1990 • Designed: • All charts of accounts in Pastel • Pastel Auditor • Worked with a few accounting firms... • Became the Creative Accountant!!

  2. Bookkeeping..... • From 1982 - 30 years ago we wrote up cash books manually... • from 1990s. PCs took over • Pastel and similar packages • Punching into Accounting packages from bank statements was great! • And now 22 years later, most people are STILL punching in Accounting packages from bank statement line by line...which are: • Open to human processing error... • Very costly in time and money... • Very tedious and boring...

  3. These days ...our goal is to achieve the end result in with the LEAST:- Amount of TIME & Effort- At the lowest COST possible

  4. I then did some homework and realised that: • only a few clients • were even attempting to finding • a Smarter way of processing their cashbooks!! With this in my mind ...I then teamed up with Sylvain Ntumba and ... Spent the last 1 ½ years producing...

  5. The Bookkeepers Solution....using modern technology....

  6. SmartBank is a: • Multi accounting package • Bank statement software Import management tool • Imports 1000s of transactions straight from bank statements into your cashbook ....at the push of a button...and is so easy.... • Saves up to 80% to 90% in TIME and COSTS... • Finish work in less than 1 day what normally takes 4 to 5 days to do....the SMART WAY!!

  7. SmartBank works with multi Accounting packages: • Pastel Accounting – V2004 to V2012 • Palladium Accounting • OS Financials • Standalone Application • QuickBooks - soon • With more soon...

  8. Writing up Cash Books the SmartBank way!

  9. Step by Step – Summary • 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...

  10. Step 1) Download Bank Statement files Critical to download correct FILE from the bank (NOT PDF!!) Search for .OFX/.OFC preferably (CSV as last resort) SmartBank can: - VIEW and PRINT OFX and OFX/OFC files- Recognises and avoids duplicate transactions

  11. Step 2 Open SmartBank

  12. Open SmartBank– 60 day Free Trial

  13. Open Accounting Package + Company

  14. Change Accounting Package

  15. Add Company Browse C drive or Server ANY Pastel version

  16. The SmartBank Screen –> Before Import of Bank Statement file SmartBank has 4 menus: Top menu Tool Bar menu Filter menu Transaction menu

  17. SmartBank MENUS

  18. SmartBank – with imported Bank file

  19. Step 3 Import Bank Statement file

  20. Import Bank Assistant Browse for bank file to import-> OFX/OFC -> CSV files - ok but not recommended

  21. Step 4) Sort, Allocate + Edit Accounts

  22. Transaction Basics • Deposits / Receipts – BLUE • Withdrawals / Payments - BLACK • Allocating / 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

  23. Let SmartBank Intelligently Speed up Allocations & Editing with: • Auto Allocate - Saving & Auto Allocating Recurring transactions • Abbreviations- Ledger Descriptions • Copy / Paste - Ledger Accounts & “Descriptions” • Search- Search for key words • Split /Unsplit – Unlimited transactions/accounts

  24. Start by selecting:- Display List + Sorting Columns -> Deposits or Withdrawals Only Select transaction from Display List Sort and match like transactions by Date or Bank Descriptions Start Allocating and editing transactions

  25. Display List - Deposits Only

  26. Display List – Withdrawals/Payments Only

  27. 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()

  28. Before EXPORTING...... Check Display menu Settings NNB: IF set as: • Show ALL Transactions • BOTHWITHDRAWALSANDDEPOSITS will be Exported • DEPOSITS Only • ONLYDEPOSITSwill be Exported • WITHDRAWALS Only • ONLY WITHDRAWALSwill be Exported

  29. Step 5) Export Deposits & Payments batch from Smart Bank -> Using SmartBank’s Export Assistant Very NNB 1) Export Location folder 2) Export File name

  30. Exported files - Locating & viewing To VIEW and see the CONTENT of the exported file: • go to the “To Import” folder and view the • Payments file - “Name+CBPymt+Date+Time” and • Receipts file - “Name+CBRept+Date+Time” files CSV format as follows:

  31. Step 6) Import the Cashbook files into your accounting package (e.g. Pastel)

  32. Check that Bank Reconciliation balances

  33. Reconcile the cash book to the bank statement SmartBank V2

  34. SmartBank is ideal for: • 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

  35. 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 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

  36. The future of Accounting... • 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!!

  37. SmartBank Solution (Pty) Ltd Directors - David Hartley and Syvain NtumbaReg No: 2012/097293/0726 Country Club Road P O Box 45100Kenilworth, 7800 Claremont, 7945 • Phone    +27 (0)82 06 12300 / 021 – 683 8333Fax        +27 (0)86 684 8660Email     info@smartbank.co.zaWebsite: www.smartbank.co.za • JohannesburgTo be announced soon

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