What is Banklink?
BankLink provides a service where they electronically capture banking transactions from nearly all financial institutions that offer a banking service and they provide us with that data within a few days of the end of any month.
By subscribing to BankLink, many of your transactions can be coded once and memorised so that when recurring transactions occur they can be coded automatically. There will always be adhoc receipts and payments which will require coding at month end but these are generally minimal.
If you subscribe to our Banklink service, within 4 to 5 days after the end of the month we send you an email advising you that uncoded receipts and payments for the prior month have been uploaded to your service section on our website. All you have to do is to write a code or note next to each item and return this list to us. We then prepare cashflow reports and GST returns as requirlled.
The Benefits of Banklink
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Here are just some of the benefits to be gained by using Banklink with GRA:
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There is no additional data entry charges processing bank statements for the periods you are on Banklink.
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It greatly speeds up the processing of your financial statements and taxation returns.
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Using the BankLink system dramatically reduces spent by you on your accounting.
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GRA prioritise the preparation of your financial information.
To
take the advantage of our priority processing service you need to
complete your questionnaires and forward it together with all
supporting documentation to us as soon as possible. If you require help please contact us.
Who Should Use BankLink?
This service would suit anybody who is using a manual or computer cashbook system. Banklink is also our preferred method for receiving your bank records.
If you find the process of compliance difficult, either through a lack of knowledge or just time, then this service can remove the risk and is certainly an easy and cost effective way of producing GST information and managing the accounts for your business. It also puts you in touch with us – enabling us to fully support you with your decision making.
To find out more about Banklink, including pricing and how it could help you, please contact us. We are here to help.
John Rowe
Director Business Accounting Services
Learn More about John
Contact John at jr@gra.co.nz or call +64 9 522 7955
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