Eliminate the need to re-key bank transactions into your accounts
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Twinfield Online Accounting has the ability to automatically reconcile bank statements and generate payment instructions to your bank. This functionality, which is available for subscription levels SME and Complete, significantly reduces the time spent on day-to-day bookkeeping. |
Bank statements
Statements can be uploaded into Twinfield and processed automatically using the e-Bank statements window. Statement formats supported include: XML, MT940, CSV and OFX. Most banks provide statements in at least one of these formats
Payment instructions
Twinfield generates bank payment instructions in many formats including BACS, EMTS, ULMP, BTL91, ClieOp03 and LM02. The required format varies from bank to bank depending on the type of payment and the nature of your account.Connected banks that support the OFX format include:
• Alliance and Leicester
• American Express
• Barclaycard
• Barclays
• Cater Allen Private Bank
• Coutts & Co
• Halifax
• HSBC
• Isle of Man Bank
• Morgan Stanley Credit Card
• NatWest
• Nationwide
• Royal Bank of Scotland
• Tesco
• Ulster Bank
• Yorkshire Bank
Connected banks that support the CSV format include:
• Abbey Business
• Co-operative Bank
• First Direct
• HBOS
• Paypal Business
In the Netherlands, direct connections have been developed with ABN AMRO and Rabobank.