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See how these accountants automate year-end

29th Sep 2015
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With the year-end tax season fast approaching, many accountants are once again preparing for long hours and late nights to meet the deadlines.

However, two accountants who no longer fear year-end are Clive Bowyer and Mark Hill. Clive and Mark now use Bankstream to automate year-end processing in their practices.

Mark, the owner of Ashfield Accountancy Service in Woking, gives the example of using Bankstream to quickly turn a year’s worth of bank statements into a set of accounts, ‘We had a client who came to us in the middle of January 2014 who needed a tax return. He was two years behind on his accounts and had no books or records in place.’

Using Bankstream’s Scanfeed service, Mark was able to convert a pile of paper bank statements into electronic data, then code the transactions - all without any re-keying. ‘We scanned in a whole year's worth of bank statements, used Bankstream to code it, and we had the accounts out to the client within 3 or 4 days - we'd have struggled to have met the deadline if we didn't have Bankstream to do that.’

Bankstream solved Mark’s immediate challenge, but also prevents such problems returning by delivering bank-authorised client bank statement data every day through Bankstream’s Livefeed service. 

Bankstream not only eliminates data entry, but helps accountants smooth out their workflow throughout the year as Clive Bowyer, Managing Director of Bowyers Accountants in St. Helens explains, ‘Bankstream has had a great impact in terms of when we do things. It helps smooth out peaks and troughs in work, so that come the end of the year for any particular client a lot of the work, maybe 80%, is done already.’

Bankstream provides these time savings through both the elimination of data entry and the automation of transaction coding.

Mark explains, ‘It automates the whole process. Within Bankstream you code it once, store that memorisation, and it will code that going forward, or if you've captured a whole 12 months and you've coded the first month, it will code it right the way through for the whole year.’

‘Dealing with a year-end client where we have a Bankstream feed is a much easier process than one where we haven't.’

Click here to view a 10-minute recorded demonstration of Bankstream's service, or visit bankstream.co.uk/automate to find out more.

About Bankstream
Bankstream eliminates data entry and automates year-end processing by automatically converting piles of client bank statements into validated, usable electronic data. Bankstream software then automatically codes this data and quickly produces reports such as the Trial Balance.

Bankstream not only fixes the year-end problem now, it fixes it for good. By providing accountants with their clients’ bank statement data each day, Bankstream puts an end to chasing statements and manual data entry. Bankstream also integrates with existing accounting software, enabling bank transactions to be automatically coded to the existing chart of accounts.

It’s time fix the year-end problem for good. Bankstream, it’s about time.

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