Twinfield accountancy portal Digital financial information exchange through SBR & XBRL

v1.1

‘In 2005, Dutch Minister Donner

promised the business sector a

reduction of the administrative

burden’ • Standardisation of the exchange of

financial data through iXBRL.

• What started off as the Dutch Taxonomy Project was later renamed the Standard

Business Reporting program.

• Parties involved: a.o. Belastingdienst (Tax Authority) | Kamer van Koophandel

(Chamber of Commerce) | Banks | CBS (Statistics Netherlands)

•  SBR/iXBRL now comprises (the drawing up of) financial documentation and the concluding of accounts' processing.

•  Efficiency is maximised when the entire financial chain's process is managed efficiently as well.

•  Both the client and the accounting firm benefit from standardisation.

‘Where does SBR/iXBRL come in?’

•  An approach and extension that both accountant

and entrepreneur benefit from.

•  An approach for optimising not only the final stage,

the financial report, but the processing of accounts

as well.

•  An extension that -at no extra cost- is an integral

part of all of Twinfield's subscription formats.

‘What does Twinfield offer?’

Current financial administration

•  Standing data.

•  Financial data.

•  Reporting structure.

Online accountancy portal

•  iXBRL viewer/editor

•  Importing of taxonomies.

•  Linking to the financial administration.

•  Enriching of data (manual, automated, external sources).

•  Digitally archiving of documentary evidence.

•  Workflow including audit trail and approval.

•  Twinfield workflow

•  Easily linked up with the accountant's program

•  iXBRL portal control

•  Portal control to various agencies.

•  Certificate control.

What does the Twinfield extension look like?

SCHEMATIC OVERVIEW (in Dutch)

SCHEMATIC OVERVIEW - Detail of the iXBRL viewer/editor (Dutch)

‘What are the advantages for the accountant?’ •  Enhanced efficiency through an (internationally)

standardised and thus structured procedure for creating a financial report.

•  Efficiency improvement is maximised when the Twinfield accountancy portal is combined with Twinfield's online accounting.

•  An improved service to the client by delivering financial reports more frequently without any extra effort.

•  Providing a new service by structuring taxonomies on behalf of a client.

•  Modularly structured, made by and for accountants.

What are the advantages for the entrepreneur?

•  Less of a paper fuss when preparing the financial statements.

•  It takes less time to provide third parties such as creditors with the necessary financial reports.

•  A better insight into the process with the possibility of intervening at an early stage.

•  A clearer information provision may have a positive effect on preserving or obtaining credit.

•  Option of summarised profit declaration without Belastingdienst (Tax Authority) intervention.

•  The work is carried out completely online.

‘Twinfield?’ •  Formed in 2000 by André Kwakernaat and

Maurice Tijhuis.

•  European market leader in online accounting.

•  More than 80.000 accounts in 22 countries and over 40.000 users.

•  ‘Double growth figures’, year after year.

•  Accounts are accessible, always and everywhere.

•  Certified by BDO Audit & Assurance.

www.twinfield.co.uk

www.twitter.com/twinfielduk