| | Categories: Blog, News, Software Updates

May 2017 Update

May 2017 software update

This month’s release contains many new features including:

  • Reversing Journals
  • ‘Twinfield Authenticate’ – An improvement to the Yodlee connection process
  • Improvements to the Neo Sales Invoice layout and list view
  • Web Services/API improvements
  • Neo customer settings screen improvements
  • Minor change to ‘new company’ creation process

If you are interested, you can find a full list of the changes in each software update by clicking the ‘Release History’ button on the home screen.

Reversing Journals:

Reversing Journals were actually released in April, so you may have already discovered this new functionality yourself.

When processing a journal entry, if you want the journal to automatically reverse in the following accounting period, simply tick the new ‘Reverse transaction in next period’ checkbox:

10 Reversing journals

Please note that reversing journals only become effective when the original transaction is finalised.  This means that if you process the journal as ‘provisional’, you won’t see the reversing transaction in your accounts for the following month.  You will see it when you finalise the transaction however.

And whilst talking about data entry, were you aware that when entering transactions where each line has the same description as the line/s above, rather than retyping the description for each line, you can double-click in the description field and select from a list of descriptions already used in the preceding lines:

11 Duplicating transaction descriptions

Twinfield Authenticate – improved Yodlee onboarding for accountants

Since release our Yodlee functionality in March, our developers have been working hard to improve the onboarding process for our accountant and bookkeeper users who may not have the bank login credentials of their clients.  For more information about this functionality, please search for ‘Yodlee’ within the Twinfield knowledgebase.

Improvements to the Neo Sales Invoice layout

The layout of the Neo sales invoice has been updated to latest design standards.  This is a prerequisite for some additional changes that are currently in development.

Also, it is now possible to filter Neo sales invoices in the list view by invoice date.

3 Neo sales invoice list date range filter

Web Services/API improvements

We have added the ability to retrieve the payment reference of a VAT return document via webservices, and it is also now possible to retrieve a list of deleted transactions via webservices.

Details of these changes can be found here: https://login.twinfield.com/webservices/

Neo customer settings screen improvements

If you process direct debit runs to collect outstanding amounts from your customers, you will be pleased to know that as a part of our ongoing migration from Classic to Neo architecture, we have now added the ability to enter/edit collection details via the blue ‘Customers’ tile.

Select the ‘Banks’ menu item, then select a ‘collection type’ (created via Cash and Banks) and a Country, and Twinfield will highlight which fields are mandatory to complete.

4 collection details on customer card

The ability to set a default discount/premium for sales processed via ‘classic invoicing’ (the orange ‘invoices’ tile) can now be accessed via the blue ‘Customers’ tile.

5 customer default discount

And the timeline, that shows all changes made for a customer/s, has also been upgraded to the latest design standard.

Minor change to ‘new company’ creation process

Lastly, the flow of creating a new company via the ‘Settings’ menu item has been improved, although please note that you are not now transferred to the new company immediately upon creation as was the case previously.

Instead, once you have clicked the ‘Create’ button the following screen will be displayed:

6 new company 1

And on completion, the following notification will be displayed:

6 new company 2

And after this is displayed, you can then switch to the new company.

That is all for this month.  We are currently working on a number of other exciting developments though, so please make a note to watch out for our next software update which will be released in mid to late June.

Richard McChesney
Twinfield Product Manager for UK and Ireland

 

 

 

 

| | Categories: Blog, News, Software Updates

April 2017 Software Update

 

In April we are releasing the monthly update to our clients on the C3 cluster (group of servers which house your accounting software and data) earlier than usual due to Easter, and mid May for C4 users.

If you don’t know which cluster you are on, you can identify this from the URL at the top of your web browser once you have logged in to Twinfield:

1 Twinfield URL

The two characters immediately after the “https://” will be either C3 or C4.

So what is in this month’s software update?

As well as the usual ‘behind the scenes’ improvements and minor things that you may or may not notice, the four changes that I want to focus on in this article are:

  • Company Settings
  • Customer Templates
  • Customer and Supplier Transaction Reports
  • Spreading Purchase Invoices
  • New Bank Statement Tiles

If you are interested, you can find a full list of the changes in each software update by clicking the ‘Release History’ button on the home screen.

Company settings:

When you select ‘Company Settings’ from the sidebar menu you will find that we no longer have both an orange and a blue ‘Company Settings’ tile.

As a part of our ongoing migration from the Classic to Neo architecture within Twinfield, we have now completed the migration of all company settings fields in to the new screen, other than Inter-Company settings, and have now removed the orange ‘Company Settings’ tile.

If you need to configure Inter-company settings, open the company settings screen via the blue tile and click the ‘Related Items’ menu icon in the upper right of the screen:

2 Related Items menu

Select ‘Intercompany’: 

3 Related Items menu2

 

 

 

 

And the screen that you are familiar with will be displayed.  This was previously only available within the ‘classic’ company settings screen:

4 Intercompany settings

You can also access both the Inter-Company settings screen and Inter-Company Transaction Types screens by typing “Intercompany” in the ‘Search’ field at the top of the screen:

5 Search for Intercompany

Customer Templates:

We have added a new screen that enables you to set the defaults for when you create new customer accounts:

6 Customer templates

This can be accessed from ‘Related Items’ within any of the customer screens. 7 Customer Templates related items menu

You will notice that you can also use the ‘Related Items’ menu to view deleted customers if accessing this menu from the Customer List screen.

Please note that the default settings in the Customer Templates screen only apply to new customer accounts created after updating this screen and does not retrospectively update previously created customer accounts.

 

As with Inter-Company above, you can also access Customer Templates by typing “Customer” or “Template” in the ‘Search’ field at the top of the screen:

8 Search for customer templates

Customer and Supplier Transaction Reports:

Up until now you could only produce customer and supplier transaction reports for transactions within a single financial year.  This meant that if you wanted a report listing all transactions from January of last year through to March of this year, for example, you had to run two separate reports.

In this month’s software update we have resolved this limitation, and you can now produce customer and supplier transaction reports for any year or period range.

Also, in case you were not already aware, if you want all transactions for a particular year (or now range of years) you do not need to enter a period number.  For example, if I want transactions for all of the 2016 and 2017 financial years, I can simply enter as follows:

9 Multi-year reports

And, if you weren’t previously aware, if you only want to run a report for one year, or one period, or one customer/supplier, etc, you only need to enter the applicable value in the ‘from’ field.  You don’t need to enter the same value in both ‘from’ and ‘to’.

And on a similar note, if you want to run a report for period 1 of a financial year, for example, you can enter the year/period as ‘YYYY/P’ (e.g. 2017/3).  You don’t need to enter a leading zero on the period number.

Spreading Purchase Invoices:

As well as the long-awaited ability to auto-reverse a journal, we have added some exciting new functionality that enables you to spread a purchase invoice at time of data entry.

Let’s say you receive a purchase invoice for your annual insurance premium, and when you code the invoice you split the invoice to multiple cost centres – see example below.

In the past you could code the invoice as per below, but would then have to run a General Ledger report that listed the transaction and then use the ‘spreading’ option to spread the GL postings across the required periods.  And if the invoice was coded to multiple GL lines, as in this example, you had to repeat the process for each transaction line.

In this month’s update we have added the ability to spread the invoice at time of data entry.

You will see that in the upper right of the screen we have a new option to ‘Spread Invoice’.  Ticking this displays three new fields: A ‘from’ and ‘to’ field as well as the field that the contra entry should be posted to – i.e. prepayments or accruals, or similar.12 Spreading purchase invoices

When you finalise the invoice, the applicable GL postings will be processed as follows:

14 Spreading purchase invoices2

Please note that the ‘spread’ journals only become effective when the original transaction is finalised.  This means that if you process the purchase invoice as ‘provisional’, you won’t see the spreading transactions in your accounts.  You will see them when you finalise the transaction however.

Note also, this functionality is only available within Twinfield.  If you use Basecone to process your purchase invoices, at this stage you will have to post the invoice through Basecone and then edit the provisional purchase invoice to add the spreading information.  We will advise you as soon as this functionality is added to Basecone.

New bank Statement Tiles:

When you open the ‘Cash & Banks’ screen you will notice two new tiles.13 New Bank Statement tiles

Please ignore the first of these two tiles.  This may be used in the future to enable importing of csv files but currently only supports MT940 files which is not a file type used by UK banks.

 

The Bank Statements tile however, is of more interest to UK users.

When you click on this tile you will see the following screen:

15 New bank statement list screen

At this stage these screens are ‘read only’ but you may find the ability to easily search historical bank statements for particular transactions to be useful.  For example, all payments to Britch Telecom:

16 New bank statement transaction history screen

The new bank Statements screen is the start of our development to replace the existing electronic bank statement processing screen, so keep an eye out for further changes in future software updates.

That is all for this month.  We are currently working on a number of other exciting developments though, so please make a note to watch out for our next software update which will be released in mid to late May.

Richard McChesney
Twinfield Product Manager for UK and Ireland

| | Categories: Blog, News, Software Updates

March 2017 software update

The March 2017 update comprises mainly of minor enhancements to improve usability and the page loading time of some screens.  A complete list of the changes is available in the ‘Release History’ which can be viewed from the Home screen.

Some changes worth noting in this blogpost include:

Neo Articles List View
The Articles list view has a new and improved look.  Users can now sort by clicking on the column headers, and the list can also be filtered on price range and VAT rate, and entering text into the ‘Search’ field will filter the list to display all records that contain the entered text in either the name or code fields.

Articles List Screen

Neo Customer List View
The Customer list view also has a new and improved look.  The list screen shows 20 customers per page and loads faster than the old list view.  As with the Article list, users can sort the list by clicking on any of the column headers, and entering text into the ‘Search’ field will filter the list to display all records that contain the entered text in any of the displayed fields.

Customer List Screen

Automated bank feeds via Yodlee
The long awaited release of our automated bank feeds functionality is now a reality.

To learn more about this new functionality, please contact our Support desk.

As always, our developers are working behind the scenes on other improvements that you may not notice.  This includes ongoing work to ensure that your data is always secure, and to improve performance.  They are also working on some exciting new features and functionality which I look forward to telling you about during the coming months.

 

Richard McChesney

Twinfield Product Manager for UK and Ireland

| | Categories: Blog, News

International financial reporting and analysis made easy with Twinfield

Twinfield Case Study money image

There are an estimated two billion people in the world who have a job but no bank account. In a country like Egypt, for example, only 3% of adults get their salary paid into a bank. That’s where dopay helps.

They provide a cloud-based payroll service that allows employers to calculate salaries and pay employees electronically. Unbanked employees receive their salary in a dopay account, which comes with a debit card.

The Challenge

Based in the financial heart of London, dopay has grown rapidly and now has operations in the Netherlands, Ghana and Egypt. Like any fast-moving, entrepreneurial organisation, dopay needs to be able to take decisions based on up-to-date financial information. It needs financial information presented in a consolidated form to show the group accounts as if it were a single entity. Financial information from each subsidiary must therefore be converted into a single reporting currency but each subsidiary has its own local accounting methods and checks so updates and corrections can be time consuming, especially across multiple time zones.

The Solution

Goodman Jones is a London-based accountancy practice with extensive experience of working with international groups, large owner-managed businesses and small, growing organisations. Applying their deep knowledge and experience of the Twinfield Online Accounting system, Goodman Jones were able to help dopay prepare monthly group financial information efficiently, easily and cost effectively.

Khaled Abou-Zied, Group Finance Director of dopay says “The results are excellent. We finally have a much better understanding of our business. We can analyse our figures and can quickly identify the areas of growth. We can look at group accounts but also have the ability to immediately drill down to a specific invoice in Ghana if we need to.”

You can watch our video case study here.