Nedbank announced yesterday a partnership with SAGE Pastel to offer an integrated online accounting solution, titled Nedbank Accounting, for clients in the small business sector.
In a statement released yesterday Nedbank said “This value-added service is integrated with NetBank Business (an online business banking platform), and provides a convenient accounting solution that enables small to medium businesses to manage their financials and offers clients secure online products that are simple and easy to use anywhere and anytime”.
Pastel director Steven Cohen said “Whilst the processing of accounts on-line is relatively new to the market, it is the future. The graphical representation of data gives the business owner insights into trends that underlie business trading. Our mobility solutions also provide the business owner with a unique manner to interact with their business on-the-go”,
Nedbank said the functions and services include the ability to manage clients’ invoices, receipts, supplier invoices, returns, and payments. In addition, it manages items purchased, sold and returned. Users can also view reports and send clients’ statements.
Nedbank said it was encouraging small businesses to use online accounting software for a number of reasons. These include:
- No upgrades – you will automatically be working on the latest version of accounting software.
- No data security hassles – your data is always safe and secure.
- Accessibility – invite your accountant as a user; they can simply login at their convenience – any time and from anywhere.
The bank said through Nedbank Accounting, NetBank Business banking clients have access to an intuitive accounting offering that makes it easier for them to manage their financials, by automatically feeding their statements into the SAGE Pastel ‘my business online’ accounting solution, thereby reducing manual uploads and capturing. This makes it easier for clients to manage their banking, financials and cash flow.
“The comprehensive accounting functionality and list of reports generated by the solution, ensures that our clients can utilise the service to manage their business with improved financial information and meet regulatory financial requirements,” says Ian Carter, Nedbank Corporate General Manager: Electronic Banking
“As the bank for the entrepreneur, we continue to provide a choice of distinctive client experiences and Banking and Beyond solutions. To deliver on this, we continue to innovate and collaborate with various strategic partners as part of our continued focus to partner with small businesses for growth, for a greater South Africa,” said Carter.