We cannot say enough good words about Banklink and how much our customers which we have switched over to using the product are loving it.

After having been at full capacity for several years and unable to take on new MYOB clients, we are pleased to announce that with the introduction of Banklink into the practice, we are now able to expand our bookkeeping services and accept new clients wishing to use the Banklink system.

Banklink is the perfect choice for businesses that do not have the time or resources to run or maintain a complete accounting package, but still want to be able to meet their BAS reporting obligations as well as have meaningful financial information that is tax accountant friendly.

How does Banklink work?

Through a secure authorisation and download process, we are able to receive a copy of your monthly bank statement directly into our system. We are then able to use the advanced memorisation functions in the Banklink software to automatically code many of the routine transactions.

We then produce a “coding report” that is faxed, mailed or emailed to you. The “coding report” is a simple list of transactions that we need more details of. An example of this might be details of a particular cheque. Essentially, you “fill in the blanks” on the coding report and return it to our office.

From the information provided, we are then able to produce a monthly cash report that details where your money has come from and where it has gone. This data is then used to produce your quarterly BAS statement and can also be sent to your tax accountant for preparation of your annual financial statements and income tax returns.

What are the advantages of Banklink?

Banklink's unique benefits include:

• Timely data processing - bank statement data is transmitted to our system on the second working day of each month and coding is commenced almost immediately
• No more GST panic - GST returns can be produced efficiently as a by-product of your general accounts
• The time consuming process of manual data entry from printed bank statements is eliminated.
• Banklink's management reports and graphs allow you to keep track of your business.