News

SMSF Enhancement Release

Our BankLink Practice SMSF enhancement release will available in September, providing even better functionality for processing your SMSF clients. Here’s just a few of the great new features:

Ability to code by ASX code for BGL users
Enhanced master memorisations allowing bulk adjustments for partially franked dividend
Super button dissections through the payee feature
New export functionality to accommodate BankLink’s new Wrap data feeds
New search function – faster to find recurring patterns and specific transactions
Superfund information in the coding optimisation report
Enhanced SMSF transaction reporting
Improvements to the class super interface

BankLink and MYOB - New strategic supplier agreement

BankLink has agreed to supply bank transaction data to MYOB for a range of new products, soon to be released. MYOB’s new products will be aimed at small businesses who want to operate their own accounting system. The new MYOB products will feature the “Data by BankLink” logo.

“By providing BankLink data to MYOB’s new products, we are able to extend our data offering into a new market, those small businesses who want to manage their own accounting solutions,” says Richard Reese, Chief Operating Officer for BankLink, “This will not divert our attention from our main focus, the 4,000 accounting practices across Australia and New Zealand who use The BankLink Service to help small business clients who lack the time, skills or desire to operate their own accounting system. We will continue to provide our complete range of BankLink products and services, including some exciting new products due to be released later this year.”

"This is an exciting opportunity for BankLink" says Richard, "it is a significant endorsement of our technology and expertise in the secure collection and delivery of data. It is also an opportunity to extend into a new market while staying focussed on what we do best. We believe that this new supplier agreement with MYOB will provide accountants with more choice on how they can work with their small business clients"

For FAQ's on this agreement click here

BankLink Practice 2010 Software Release

We are delighted to announce the release of BankLink Practice 2010!

Now with over 4,000 practices using the service for over 200,000 small business clients, BankLink continues to lead the way in time saving tools for accountants.

This latest version has been specifically designed to enable you to remain in control of your clients, their accounts and the way you communicate with them. Particular focus has been given to enhancing the quality and timeliness of the data and information you recieve for your clients.

What's new in BankLink Practice 2010?

You'll find new features and enhancements to existing functionality in many areas of the software, including:

Bank Account Maintenance	Custom documents
Account code updating	Headers and footers
GL chart migration	Coding Efficiency

For a full list of what's new in BankLink Practice 2010 please click here.

Upgrading your practice software is simple and free. Once you have upgraded to BankLink Practice 2010, your BankLink Books and BankLink Notes clients will be prompted to upgrade their software next time they receive a file from you.

For further information on the upgrade process click here. Alternatively, follow the links below for a full list of upgrade instructions for each BankLink product.

If you have any queries or feedback on the latest enhancements email us at support@banklink.com.au or call us on 1800 123 242.

BankLink helps practices achieve 34% higher Net Profit per equity partner...

The Good, the Bad & the Ugly of the accounting profession. Business Fitness (2009)

n: 258 Australian practices

Every year Business Fitness produce a report called "The Good, The Bad & The Ugly of the accounting profession". This report is based on results generated in the Australian market, but is equally relevant to New Zealand. The results of last year's report will be of particular interest to those Partners, Practice Managers or other staff charged with reducing costs and increasing profitability.

The report shows that over 68% of those who responded use BankLink to gather electronic copies of bank statements (with other suppliers making up only around 2%).What's more, those practices who use The BankLink Service achieved 34% more Net Profit per equity Partner than those who did not!

We also see from 2008 results that practices using The BankLink Service continue to increase the margin between their year on year performance than those who are yet to discover the benefits of The BankLink Service.

This independent report highlights the potential growth that can be achieved through maximising the use of The BankLink Service. The opportunity to increase Net Profit by over a third represents a compelling reason to ensure that your practice is collecting as many of your clients' transactional data as possible via BankLink.

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Macquarie historical data now available from BankLink

We are delighted to announce the availability of historical data from Macquarie, which can be backdated for up to 36 months.

Macquarie historical data is available for the following investment accounts:

Macquarie Cash Management Trust
Macquarie Cash Management Account
Macquarie Cash XL
ABN Amro Morgans Cash Management Service
Bell Potter Cash Management Service

To receive historical data for these accounts, simply complete a BankLink Client Authority form, clearly stating the start date you require, for example 1 July 2008. That way you’ll receive a complete year’s records, with no data entry!

If you have any queries about historical data from Macquarie, please call us
on 1800 123 242.

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SMSF Enhancements and Fuel Tax Rebates in BankLink Practice

We’re pleased to announce a new release of BankLink Practice, Books and Notes. The latest versions of our software are designed to support your Self Managed Super Fund account processing.

The enhancements are a direct response to your feedback and include:

the ability to set up practice defaults for both accounting and superfund systems,
a choice of whether to apply master memorisations to all accounts from an institution, or just those set up for a particular accounting system,
automatic calculation of franking credits on dividends, and
the streamlined interfacing to Desktop Super, MYOB Superfund and Supercorp SuperVisor II.

We also support the new ATO rebate rate.

For details on each enhancement, please click here.

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BankLink Practice and Self Managed Super Funds

Did you know that BankLink Practice provides a powerful solution for your SMSF clients?

BankLink interfaces to all the major SMSF systems used by accounting practices, including BGL SimpleFund, APS Desktop Super, MYOB SuperFund, Supercorp SuperVisor II and Praemium.

BankLink collects data for a wide range of accounts popular with SMSF clients, for instance:

ABN AMRO Morgans Managed Portfolio Service
Adelaide Managed Funds – Cash Management Trust
ANZ V2 PLUS Accounts
Asgard Wealth Solutions – eCASH and CASH Connect Accounts
BankWest - Cash Management Account, Business TeleNet Saver
Bell Potter Cash Management Service
Credit Suisse Asset Management – Cash Management Trust
Macquarie Investment Management – Cash Management Trusts
National Australia Trustees - At Call Common Fund A1
Ord Minnett – Cash Management Trust
Private Portfolio Managers
Sandhurst Trustees Limited
Statewide Secured Investments Limited
Westpac – Cash Management Accounts

"Every quarter, The BankLink Service saves us between one and five hours of work for each SMSF client, depending on their size."
Morrows, VIC

If you’re not already using BankLink Practice to process your SMSF clients’ transactions, and would like to arrange a demonstration of how this can work for you, please call BankLink Client Services on 1800 123 242,
or email clientservices@banklink.com.au.

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