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The latest news and software updates for users of Twinfield

April 2017 Software Update

Posted by Richard McChesney on 01-Apr-2017 09:06:00

There are five main changes that I want to focus on this month:

  • Company Settings
  • Customer Templates
  • Customer and Supplier Transaction Reports
  • Spreading Purchase Invoices
  • New Bank Statement Tiles

A full list of changes in each software update can be found by clicking the ‘Release History’ button on the home screen.

Company settings:

When you select ‘Company Settings’ from the sidebar menu you will find that we no longer have both an orange and a blue ‘Company Settings’ tile.

As a part of our ongoing migration from the Classic to Neo architecture within Twinfield, we have now completed the migration of all company settings fields in to the new screen, other than Inter-Company settings, and have now removed the orange ‘Company Settings’ tile.

If you need to configure Inter-company settings, open the company settings screen via the blue tile and click the ‘Related Items’ menu icon in the upper right of the screen:

2 Related Items menu

Select ‘Intercompany’: 

3 Related Items menu2

And the screen that you are familiar with will be displayed.  This was previously only available within the ‘classic’ company settings screen:

4 Intercompany settings

You can also access both the Inter-Company settings screen and Inter-Company Transaction Types screens by typing “Intercompany” in the ‘Search’ field at the top of the screen:

5 Search for Intercompany

Customer Templates:

We have added a new screen that enables you to set the defaults for when you create new customer accounts:

6 Customer templates

This can be accessed from ‘Related Items’ within any of the customer screens. 7 Customer Templates related items menu

You will notice that you can also use the ‘Related Items’ menu to view deleted customers if accessing this menu from the Customer List screen.

Please note that the default settings in the Customer Templates screen only apply to new customer accounts created after updating this screen and does not retrospectively update previously created customer accounts.

As with Inter-Company above, you can also access Customer Templates by typing “Customer” or “Template” in the ‘Search’ field at the top of the screen:

8 Search for customer templates

Customer and Supplier Transaction Reports:

Up until now you could only produce customer and supplier transaction reports for transactions within a single financial year.  This meant that if you wanted a report listing all transactions from January of last year through to March of this year, for example, you had to run two separate reports.

In this month’s software update we have resolved this limitation, and you can now produce customer and supplier transaction reports for any year or period range.

Also, in case you were not already aware, if you want all transactions for a particular year (or now range of years) you do not need to enter a period number.  For example, if I want transactions for all of the 2016 and 2017 financial years, I can simply enter as follows:

9 Multi-year reports

And, if you weren’t previously aware, if you only want to run a report for one year, or one period, or one customer/supplier, etc, you only need to enter the applicable value in the ‘from’ field.  You don’t need to enter the same value in both ‘from’ and ‘to’.

And on a similar note, if you want to run a report for period 1 of a financial year, for example, you can enter the year/period as ‘YYYY/P’ (e.g. 2017/3).  You don’t need to enter a leading zero on the period number.

Spreading Purchase Invoices:

As well as the long-awaited ability to auto-reverse a journal, we have added some exciting new functionality that enables you to spread a purchase invoice at time of data entry.

Let’s say you receive a purchase invoice for your annual insurance premium, and when you code the invoice you split the invoice to multiple cost centres – see example below.

In the past you could code the invoice as per below, but would then have to run a General Ledger report that listed the transaction and then use the ‘spreading’ option to spread the GL postings across the required periods.  And if the invoice was coded to multiple GL lines, as in this example, you had to repeat the process for each transaction line.

In this month’s update we have added the ability to spread the invoice at time of data entry.

You will see that in the upper right of the screen we have a new option to ‘Spread Invoice’.  Ticking this displays three new fields: A ‘from’ and ‘to’ field as well as the field that the contra entry should be posted to – i.e. prepayments or accruals, or similar.12 Spreading purchase invoices

When you finalise the invoice, the applicable GL postings will be processed as follows:

14 Spreading purchase invoices2

Please note that the ‘spread’ journals only become effective when the original transaction is finalised.  This means that if you process the purchase invoice as ‘provisional’, you won’t see the spreading transactions in your accounts.  You will see them when you finalise the transaction however.

Note also, this functionality is only available within Twinfield.  If you use Basecone to process your purchase invoices, at this stage you will have to post the invoice through Basecone and then edit the provisional purchase invoice to add the spreading information.  We will advise you as soon as this functionality is added to Basecone.

New bank Statement Tiles:

When you open the ‘Cash & Banks’ screen you will notice two new tiles.13 New Bank Statement tiles

Please ignore the first of these two tiles.  This may be used in the future to enable importing of csv files but currently only supports MT940 files which is not a file type used by UK banks.

The Bank Statements tile however, is of more interest to UK users.

When you click on this tile you will see the following screen:

15 New bank statement list screen

At this stage these screens are ‘read only’ but you may find the ability to easily search historical bank statements for particular transactions to be useful.  For example, all payments to Britch Telecom:

16 New bank statement transaction history screen

The new bank Statements screen is the start of our development to replace the existing electronic bank statement processing screen, so keep an eye out for further changes in future software updates.

That is all for this month.  We are currently working on a number of other exciting developments though, so please make a note to watch out for our next software update which will be released in mid to late May.