Wolters Kluwer Tax & Accounting acquires Twinfield

Wolters Kluwer Tax and accounting yesterday issued a press release announcing they have acquired the dutch provider of SAAS accounting Twinfield. Twinfield has 80,000 clients and is one of Europeans largest online accounting solutions.

Riverwoods, IL. (June 14, 2011) – Wolters Kluwer Tax & Accounting today announced the
acquisition of Twinfield, a Dutch-based pioneer and market leader in online accounting software,
serving professionals in the Netherlands, UK and Scandinavia. Through this acquisition, Wolters
Kluwer expands and complements its existing offering of advanced software solutions for
accountants and finance professionals in SMEs in all the western European markets it serves.
Twinfield will become part of the European activities of Wolters Kluwer Tax & Accounting, the
global market leader in tax, accounting and audit solutions and services.
With more than 80,000 administrations managed online via Twinfield software, it is an undisputed
leader in online, SaaS-based collaborative accounting solutions in Europe. The acquisition further
advances Wolters Kluwer Tax & Accounting’s strategy to expand its offering of software solutions that
contribute to the productivity of accountants and SMEs in Europe. It also responds to the growing
demand for ‘Software as a Service’ (SaaS), applications, enabling Wolters Kluwer to further build out its
SaaS business model to meet customer demand.
“Through continuous investment and innovation, Wolters Kluwer has advanced its position as the
European market leader in information and software solutions for finance professionals and SMEs,” says
Henri Van Engelen, Managing Director of Wolters Kluwer Tax & Accounting Europe. “This acquisition
strategically expands our offering of state-of-the-art accounting software solutions. It also uniquely
positions us as the only provider today capable of offering both information and software solutions to
accountants and SMEs in the Dutch market.”
“We are very pleased to be joining Wolters Kluwer. This acquisition allows Twinfield to remain focused
on our core competency: offering accountants and finance professionals in SMEs the best online
accounting solution. At the same time, with Wolters Kluwer’s global reach and commitment, we can
further strengthen and expand the Twinfield product offerings and SaaS delivery,” said André
Kwakernaat, founder of Twinfield.
Terms of the acquisition are not being disclosed. Twinfield was founded in 2000. The company’s head
office is in the Netherlands and it has two branches in the United Kingdom and the Ukraine. Twinfield
has 75 employees

Full press release here

Introducing QuickSnap – Single-purpose iPhone app for KashFlow

qsWhen I talked about ouriPhone app, the one feature Id harp on about the most was the ability to take a snapshot of a receipt and get it into KashFlow in a few taps. So I could get out of a taxi or pay a bar bill and immediately have the scanned receipt in KashFlow.

The problem was that as the app does so much more than this, it was more taps/data entry than is ideal.

So in talking to the great iPhone developers we work with, we came up with a plan: a single-purpose app optimised specifically for getting receipts into KashFlow.

The result is QuickSnap, now available in the app store.

First, the set-up: Create a supplier in your KashFlow account, perhaps called Unprocessed Receipts. Then add a new nominal code (or Outgoing Type) , perhaps called Misc Expenses

Then fire up the app and in the settings screen you choose the supplier and code you just created and also enter your name. Your app is now configured for use.

When you fire up the app youll have the option to use an existing photo or shoot a new one.
You can then(optionally) enter a description for the receipt.
Tap to send to KashFlow and a new receipt is created against the selected supplier and code.
The description you entered is used as the description followed by your name in brackets so you can have multiple people using the app without back office confusion.
Your snapshot is attached to the receipt so when you are ready you can sit down and fill in the details.


Note: when you tap to send to KashFlow, you get to chose the size of the image. Some users are reporting problems using the larger options. Let us know if you have this problem so we can get it fixed.

Note 2: Before you ask, no no plans to do a version of this or our main app for Android just yet. But we are getting a *lot* of requests, so may well do so at some point.

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7 Reasons to do your accounts online

Im slowly but surely moving my clients to online accounting solutions. There is a variety of reasons I will detail them below.

  1. No upgrades to worry about. I’ve lost many a morning trying to upgrade on premises software. The upgrade runs fine on one pc but not on another. Then you cant open the data because your all using different versions. Painful.
  2. No hardware to worry about. As you are working online all you need is a pc with internet connection. You dont have to provision, host, manage, and support your own internal infrastructure.
  3. Lower start up costs. If you are confident configuring your own accounting package you can be up and running for €15
  4. Lower overall cost of ownership. All of the online accounting packages Do My Books work with include support in their basic pricing. Presently an annual subscription to Kashflow online accounts costs less than annual support for most of the on premise accountancy packages available today.
  5. Flexible Pricing. With Xero online accounts you can upgrade or downgrade your package anytime you like.
  6. Collaboration. No need to back up your data to send it to your accountant. She can log in and access live information.
  7. Integration. Xero and Kashflow allow you to integrate into a number of other online applications including CRM, Payrolll, Project management and ecommerce apps.

If you would like to speak with an accountant who is familiar with moving businesses online please phone Ralph on 091-442882 or email ralph@domybooks.ie

The Cloud

Online bookkeeping programs

Below is a list of Online bookkeeping programs. I have used them all and my comments are below each link.

Xero is my personal favorite. I have my own practice accounts in Xero. Its reliable, its easy to use and it integrates with a lot of other SAAS applications from CRM packages like Sales force to POS systems.
Kashflow Just like Xero, Kashflow is beautifully simple to use. Based in the UK Kashflow is slightly easier for UK based businesses in terms of VAT reporting.
Outright Unlike the other packages Outright is completely free. It is very much US focused and only supports dollars.