Banking Module
Last update:Twinfield
Automate the processing of bank statements
A suggested process for working with bank statements within the bank statement module.
Twinfield
Bank Statement processing
This document outlines the process of bank statement handling in Twinfield, detailing the methods for uploading bank statements via bank feeds or CSV imports. It describes the functionalities available in the bank statement processing list, including columns for transaction details, processing progress, and actions such as posting statements and assigning bank lines. Additionally, it highlights sorting capabilities for easy management of bank statement data.
Twinfield
Classic: Importing Bank Statements
Note: As previously announced, the Classic Banking module (orange bank statement tile) in Twinfield will be retired at the end of September 2026. From 1 October 2026, users will no longer be able to use the Classic Banking module and should transition to the new Banking module.
The new Banking module provides enhanced automation, line-level processing, and improved bank statement handling while maintaining synchronization with existing banking data. No migration is required.
The new Banking module provides enhanced automation, line-level processing, and improved bank statement handling while maintaining synchronization with existing banking data. No migration is required.
Twinfield
Introduction to the Banking module
The document outlines the introduction of a new Banking module for Twinfield, set to launch for UK and IE customers starting August 2022. It highlights that users can process bank statement data through either the new module or the existing Classic option. Limitations of the Banking module include the inability to assign certain bank lines for supplier cheque clearing or project sub-analysis. The document details functionalities such as importing statements, managing bank feeds, and allocation rules. Customers interested in enabling the new module are advised to contact support for assistance.
Twinfield
Working with bank lines - Allocation rules
This document outlines the process of creating allocation rules for efficient bank statement line processing. It details the criteria for setting rules against customer or supplier allocations linked to outstanding amounts or general ledger codes. Steps include creating rules by highlighting unique transaction descriptors and adding criteria like mutation codes and statement values. It explains how to apply rules to account-wide or specific bank accounts and provides options for saving allocations, such as moving them to various review buckets or accepting them with or without creating rules.
Twinfield
Working with bank lines - Customer / Supplier
The document explains how to assign bank lines as customer or supplier transactions. Users can match receipts or payments against outstanding invoices using a search feature, with options to match fully or partially. It details the steps to save allocations in various statuses, including keeping them for further investigation or creating allocation rules. Additionally, it covers posting unmatched amounts against customer or supplier accounts, emphasizing that allocation rules are not saved in this case. Screenshots aid in illustrating the process throughout the document.
Twinfield
Working with bank lines - General Ledger
The document provides instructions for posting bank statement lines directly to a general ledger code in Twinfield when there are no associated customer or supplier invoices. It outlines the process of entering relevant general ledger codes, assigning cost centres or projects, and setting VAT rates. Additionally, it details how to split a bank statement line between different codes or cost centres/projects and mentions the ability to save allocation rules for future use. Visual aids accompany the instructions for clarification.