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Banklink

What is Banklink Notes?

Banklink Notes is a simple software program that reduces the burden of manual data entry and improves the information collection process between McMasters' and our clients.

Participating clients sign a Banklink Client Authority form asking their bank to send data to us each month. We classify and code the information in our office, seeking further information and explanations from you as needed.

We seek this information via the "Banklink Notes" function, ie a standard screen displaying the transactions and asking you to complete notes where needed and return the file to us by e-mail. Nothing could be simpler.

We then use this information as a base for your quarterly BAS and your annual accounts and income tax returns.

Banklink is intelligent software that remembers recurring transactions. This means you only need to provide information on unusual transactions that we cannot explain by ourselves. In most cases after a few months with Banklink clients are on automatic pilot, with only minor input needed to prepare their BAS, their accounts and their year end tax return. Banklink Notes in effect remembers your codes and codes your transactions for you without any further human input. This saves you valuable time and greatly simplifies our end of year processes.

Larger practices need to take care changing over to Banklink, and expert assistance from one of our IT consultants is the best way to go. Bankink works well for larger medical practices: we have clients with 36 service provider numbers across three different sites happily using Banklink to generate their accounting reports.

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