Walking society KWBN choses a smooth-running system for processing bank statements

Koninklijke Wandel Bond Nederland (KWBN, Royal Dutch walking society) provides services to ap- proximately 1,050 member organizations and more than 58,000 hikers. ‘We are currently using the IT solution for member organizations by Microsoft Dynamics, as we want to work as effectively and efficiently as possible. We have supplemented this solution with Extended Banking from Broad Horizon [formerly known as GreatCircle] and hardly ever have to worry about account movements as a result. It also gives us direct insight into the paid and outstanding invoices.’

KWBN organizes events, training and support, tracks and routes, trips, and provides information. One of its staff members is Twan Willems. As a controller, Willems is the financial conscience of the society. ‘KNWB facilitates the organization of events like the Avond4daagse (four-evening walks, an annual Dutch walking event) and supplies about 450,000 medals every year. Together with a colleague, I handle the financial administration. With such a small department, it is important that the bookkeeping is conducted as efficiently as possible.’

Extended Banking as a practical addition to the business system
One year and a half ago, the organization switched to DfM, the IT solution for member organizations of Mi- crosoft Dynamics. ‘We use this to support all business processes. A major advantage of this solution is the efficient recording of member data: from contact details and contact moments to registrations for walking tours. Yet, what the solution does not facilitate is the reading and processing of bank statements. It takes an enormous amount of time to do this manually, but luckily we came into contact with Broad Horizon via our hosting partner who offered a solution for this. They strengthened our IT platform with their Extended Banking module, which automatically imports account movements into our bookkeeping.’

Self-learning process
‘Extended Banking streamlines payment transactions for purchase and sales invoices, credit trans- fers, and direct debits. It’s fast, flexible, and very stable,’ says Twan. Digital bank statements are read automatically and transactions in the electronic bank statement are matched to the correct purchase or sales invoice on the basis of the IBAN, customer, supplier, debtor, creditor, or invoice number or payment reference. Receipts are then allocated and outstanding items are reconci- led. ‘New features are added to extended banking where necessary, allowing extended banking to build up more and more knowledge about account movements and helping it to recognize an increasing number of account movements immediately.’

Direct processing of statements
‘In the normal periods KWBN processes about 30 to 40 account movements per day, but in peak periods this quickly goes up to around 1,000 to 2,000,’ says Twan. ‘The reconciling function ensures that all account movements are linked to open items in the administration, which frees us from having to work with compli- cated account movement files. Where possible, invoice payments and debit transactions are automatically processed in our administration. This ensures a direct processing of the majority of the statements, with only around 20 per cent requiring post-processing. Broad Horizon’s Extended Banking module helps ensure fast and accurate allocation. This saves us a huge amount of work and provides little risk of data being entered incorrectly.’