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     info@smartbank.co.za

Website www.smartbank.co.za

JohannesburgTo be announced soon