A New Zealand-based specialist in building interfaces to banking data is opening its doors to UK accounting practices that want to automate bookkeeping duties for their business clients.
“We link to bank data, so we called the company BankLink,” said managing director John Dunkerley.
BankLink makes it possible to automate bookkeeping by feeding statement data directly into accounting ledgers. The company has been automating accounting from clients’ bank statement data in its home market and Australia for 25 years, where nine out of 10 accountancy practices work this way, Dunkerley explained. “But I don’t know of any practice that uses it for all its clients.”
While preparing the ground for the company’s UK launch, Dunkerley took a close interest in the discussions about bank statement accounting that have taken place in recent years on AccountingWEB.co.uk. As might be expected, he is “absolutely” certain that bookkeeping be carried out using statement data to input transactions, but not necessarily for all businesses.