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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.

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Presentation on theme: "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."— Presentation transcript:

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 From 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...

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5 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...

6 The Bookkeepers Solution....using modern technology....

7 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!!

8 Pastel Accounting – V2004 to V2012 Palladium Accounting OS Financials Standalone Application QuickBooks - soon With more soon...

9 Download Bank Statement Import into SmartBank Edit & Auto Allocate Transactions Export into Accounting package

10 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...

11 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

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16 Browse C drive or ServerANY Pastel version

17 The SmartBank Screen –> Before Import of Bank Statement file SmartBank has 4 menus: 1)Top menu 2)Tool Bar menu 3)Filter menu 4)Transaction menu

18 SmartBank MENUS

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21 Browse for bank file to import -> OFX/OFC -> CSV files - ok but not recommended

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23 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 Transaction Basics

24 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

25 1)Select transaction from Display List 2)Sort and match like transactions by Date or Bank Descriptions 3)Start Allocating and editing transactions

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28 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 ( )

29 IF set as: Show ALL Transactions BOTH WITHDRAWALS AND DEPOSITS will be Exported DEPOSITS Only ONLY DEPOSITS will be Exported WITHDRAWALS Only ONLY WITHDRAWALS will be Exported

30 -> Using SmartBanks Export Assistant Very NNB 1) Export Location folder 2) Export File name

31 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:

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36 Reconcile the cash book to the bank statement SmartBank V2

37 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

38 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

39 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!!

40 Directors - David Hartley and Syvain Ntumba Reg No: 2012/097293/07 26 Country Club RoadP O Box Kenilworth, 7800Claremont, 7945 Phone +27 (0) / 021 – Fax +27 (0) Website: Johannesburg To be announced soon


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