Many businesses are unaware that the many hours of data entry and paperwork are actually unnecessary! Almost all of your financial transactions are recorded by your bank or other financial institutions, and can be sent automatically to CABRAL in an electronic format. BankLink can automate this process for both you and CABRAL, saving you money and enabling you to spend your time more productively running your business.

BankLink will enable CABRAL to provide you with insightful reports on your GST, Budgets, Cash Flow and Profit and Loss, to help you make smarter business decisions. BankLink also offers solutions for easy management of your invoicing and debtors.

Your bank statement information, which is currently collected from you and then processed manually, can now be loaded electronically directly onto CABRAL's computer system, saving time and money on processing your information. You will still get your own printed bank statement as usual. Nearly all of the major banks and financial institutions have introduced BankLink, a service that is available to all businesses throughout New Zealand.

In fact, 80% of Accounting Practices in New Zealand already use BankLink to streamline their own processes.

With your permission and under strict security measures, a copy of your bank or other financial statement information comes directly to CABRAL. This information goes directly into our computerized software package.

Depending on how you want us to deal with your accounts, we can send you a “coding report” identifying which transactions we need more information on, either by mail, fax or e-mail.

This “coding report” is simply a list of transactions for which we need more details. An example of this might be details of a particular cheque. Essentially, you will “fill in the blanks” on the coding report and return it to our office.

You fill in the blanks and return the report to us, it couldn't be simpler. We can also provide you with monthly financial reports to help you manage your business.

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If you are already using accounting software you may be using a package that is too complex for your business requirements, or paying for software upgrades that you do not need. BankLink may be the answer!

To see if changing your present 'accounts processing system' is the best decision for your business situation, please contact us.

When the process is complete, we are able to produce a monthly cash flow report that details where your money has come from and where it has gone. Please note that this will not be a Profit and Loss Statement, simply a cash flow report.

In addition to a monthly cash flow report, we are able to prepare your Business Activity Statement more efficiently throughout the year, as we will have your information already. We also anticipate we will be able to prepare your Annual Financial Statements and Income Tax Returns more efficiently as much of the information will have already been processed.

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There is no initial charge for software or charges for ongoing software upgrades. CABRAL pays these costs for its clients by subscribing to BankLink.

There is a small fee one time fee for the initial “linking” of BankLlink to your financial institution (about $20). We can also confirm that there are no additional charges imposed by your financial institution.

There is a small charge for using BankLink, but this is likely to be far outweighed by its benefits. For example, if you have 50 transaction through your bank account each month, your fee will be $4.15.

Focus on growing your business not doing bookkeeping

• You may be able to stop keeping a cashbook
• You will not have to buy accounting software

Cut your accountants fee by cutting the time they spend on your accounts.

• No more manually sorting through information like statements & receipts.
• Less double-checking information and correcting the errors which can easily be made with a manual cashbook.

Ok, so as an accountant I might be the loser on that one! But perhaps the time saved could be better invested by taking a more in-depth look at your business - we may even save you more money!

With BankLink:

Without BankLink:

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We will provide a Third Party Authority form authorising us to collect your bank data electronically. You will need to complete the form by providing the Name and Account Number for each business account you use and sign the form at the bottom of the page. We do the rest.

To see if BankLink is the right software for your business, please contact us.   

Absolutely. The BankLink service complies with the strict security requirements demanded by all of the major banks. Naturally we understand your transaction data is highly delicate and very important to you. Outlined below are a few points to help put your mind at ease.

• Your bank statement data can only be sent to CABRAL with your permission.
• Your bank statement data is sent in an encrypted format so no-one but CABRAL can read it.
• You do not need to provide CABRAL with your PIN. CABRAL never has access to your bank account.
• You will still receive your paper bank statements in the mail.

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The main reason for adopting BankLink at CABRAL is to save our business and yours time and money, while providing you with up-to-date financial information, more efficiently and effectively. We hope that this will also provide a more efficient bookkeeping option for you.

This system automatically transfers a copy of statement information from banks and other sources directly into your ledger at the practice. This means that CABRAL receives financial information monthly, straight from the bank or other financial source.

It means that because there is less data-keying, the chance of inaccuracies is reduced, saving time for both you and CABRAL when we are preparing accounts or GST returns.

As we receive all the statement information electronically and on a regular basis, we can supply you with regular financial reports if you wish. It also means no more hunting for missing statements!

We have decided to adopt this system for many of our clients as we believe that it will allow us to provide you with a higher level of information and service.

BankLink is used by companies like CRT, Fonterra and almost all financial institutions like KiwiBank, Nelson building society, Westpac, National Bank, Plus many others.

Are my financial institutions or suppliers using BankLink?

To see if BankLink is the right software for your business, please contact us

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