Twinfield accountant's portalDigital financial information exchange via (i)XBRL

v1.1

2005: Dutch government promises a reduction in the administrative burden for trade and industry.

2006: The UK Carter Review stated,“Online services have the potential to offer benefits to businesses, taxpayers and the Government”•Standardisation for the exchange of financial data using XBRL/iXBRL

•Parties involved: among others the Tax Department (HMRC) | Chamber of

Commerce (Companies House) | Banks | CBS (ONS)

• (i)XBRL is now used for (the compilation of) financial reports and to complete the editing process of financial accounts.

• Maximum efficiency improvements are achieved when the editing process of the entire financial reporting chain can also be conducted efficiently.

• Standardisation creates advantages for both the client and the accountant.

‘Where does (i)XBRL come in?’

• A solution with features that benefit both

accountants and businesses.

• A solution that not only improves the end product,

the financial reports, but also the system used to

compile financial accounts.

• Additional features which - at no extra cost - are

an integral part of all Twinfield subscription types.

‘What does Twinfield have to offer?’

Existing financial accounts• Master data.

• Financial data.

• Reporting structure.

Online accountant's portal• XBRL viewer/editor

• Import of taxonomies.

• Creating links with financial accounts.

• Enrichment of data (manual, automatic, external sources).

• Digital archiving of supporting documents.

• Workflow, including audit trail and client approval.

• Twinfield workflow

• Can be linked to the work programme of the accountant.

• XBRL port manager

• Management of ports for different organisations.

• Certificate management.

What do the new Twinfield features look like?

SCHEMATIC OVERVIEW

SCHEMATIC OVERVIEW - Detail of the XBRL viewer/editor

‘What are the advantages for the accountant?’• Efficiency improvement through an internationally

standardised and structured method for the compilation of financial reports.

• Maximum efficiency improvements are achieved when the Twinfield accountant's portal is combined with Twinfield online accounting.

• Improved service delivery to clients because financial reports can be produced more frequently with the same amount of effort.

• New services can be created with self-defined taxonomies.

• Modular construction, made by and for accountants.

What are the advantages for businesses?• Less paperwork involved in the compilation of annual accounts.

• Less time needed to issue the necessary financial reports to third parties, such as banks.

• Better insight into the current state of affairs, with the possibility of making interim adjustments.

• A better supply of information can have a positive effect when it comes to keeping or obtaining credit facilities.

• The ability to submit abbreviated income statements for corporation tax returns without intervention from the tax department.

• Everything done online.

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

Maurice Tijhuis.

• European market leader in online accounting.

• More than 80,000 financial accounts in 22 countries with more than 40,000 users.

• Double-digit growth year after year.

• Access to financial accounts at any time, from any place.

• Certified by BDO Audit & Assurance.

www.twinfield.co.ukwww.twitter.com/twinfieldukblog.twinfield.com