Wandelbond KWBN ensures smooth processing of bank statements
The Koninklijke Wandel Bond Nederland (KWBN) serves approximately 1,050 member organisations and more than 58,000 walking consumers. “Because we want to work as effectively and efficiently as possible, we use the IT solution for member organisations of Microsoft Dynamics. We have supplemented this with Extended Banking from Broad Horizon [former GreatCircle]. As a result, we hardly have to worry about bank mutations. We also have direct insight into the paid and outstanding invoices”.
KWBN verzorgt onder meer evenementen, training en begeleiding, paden en routes, reizen en informatie. Een van de medewerkers van de organisatie is Twan Willems. Als controller is hij het ﬁnanciële geweten van de vereniging. “KWBN faciliteert bijvoorbeeld organisatoren van avond- vierdaagsen en levert jaarlijks zo’n 450.000 medailles. Met een collega verzorg ik de financiële administratie. Met zo’n kleine afdeling is het zaak om de boekhouding zo goed mogelijk in te richten.”
Extended Banking as a practical addition to the business system
The organisation switched to DfM, Microsoft Dynamics’ IT solution for member organisations. “With this we support all business processes. A major advantage is the flexible recording of member data: from contact details and contact moments to registrations for hikes. What the solution does not facilitate is the reading and processing of bank statements. If you have to do this manually, it takes an enormous amount of time. Fortunately, we came into contact with Broad Horizon via our hosting partner. They strengthened our IT platform with their Extended Banking module. As a result, bank changes are automatically reflected in our accounting records.
“Extended Banking streamlines payment transactions for purchase and sales invoices, credit transfers and direct debits. Fast, flexible and very stable”, says Twan. Digital bank statements are read automatically. Based on the IBAN, customer, supplier, debtor, creditor or invoice number or payment reference, transactions in the electronic bank statement are matched to the correct purchase or sales invoice. Subsequently, receipts are allocated and outstanding items are written off. “Where necessary, features are added to Extended Banking. In this way, Extended Banking builds up more and more knowledge about bank changes and recognises more and more changes immediately”.
Fast and accurate allocation
“In normal periods, KWBN processes about 30 to 40 mutations a day, but in peak periods these are 1,000 to 2,000”, says Twan. “The intercept function ensures that all bank mutations are linked to open items in the administration. So we don’t have to work with complicated mutation files. Where possible, invoice payments and debits are processed automatically in our administration. This ensures direct processing of the majority of statements. For approximately 20% post-processing is required. Broad Horizon’s Extended Banking module helps with fast and accurate allocation. This saves us an enormous amount of work and, moreover, there is little risk of data being entered incorrectly”.
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“Because we want to work as effectively and efficiently as possible, we use the IT solution for member organisations of Microsoft Dynamics 365. Extended Banking streamlines payment transactions for purchase and sales invoices, credit transfers and direct debits. Fast, flexible and very stabl