Maximizing Efficiency with Moneybird

Moneybird is one of the Netherlands' most popular bookkeeping software solutions for entrepreneurs, freelancers, and small businesses. Its user-friendly interface and powerful features make financial administration simpler and more efficient. At Glodinas Finance B.V., we use Moneybird for our clients' bookkeeping needs. This guide explores how to maximize efficiency with Moneybird's key features.

Getting Started with Moneybird

Setting Up Your Account

Before diving into advanced features, ensure your Moneybird account is properly configured:

• Complete your company profile with accurate business information
• Set up your chart of accounts to match your business needs
• Connect your bank accounts for automatic transaction imports
• Customize your invoice templates with your logo and branding
• Set up tax rates relevant to your business activities

A well-configured account forms the foundation for efficient bookkeeping processes.

Streamlining Invoice Management

Creating Professional Invoices

Moneybird makes it easy to create professional invoices that comply with Dutch requirements:

• Use customizable templates that include all required information (KVK number, VAT number, etc.)
• Save frequently used products/services as items for quick addition to invoices
• Set up recurring invoices for regular clients
• Include payment terms and conditions automatically

Automating Invoice Sending

Save time by automating the invoice delivery process:

• Schedule invoices to be sent automatically on specific dates
• Set up recurring invoices for subscription-based services
• Use batch sending for multiple invoices
• Enable automatic PDF attachment when sending via email

Tracking Payments

Moneybird offers several features to streamline payment tracking:

• Automatic matching of bank transactions with open invoices
• Automated payment reminders for overdue invoices
• Real-time overview of paid, unpaid, and overdue invoices
• Integration with payment providers like Mollie for online payments

Efficient Expense Management

Digitizing Receipts

Say goodbye to paper receipts with Moneybird's digitization features:

• Use the Moneybird mobile app to scan receipts on the go
• Forward digital receipts directly to your unique Moneybird email address
• Automatically extract key information from receipts using OCR technology
• Attach digital receipts directly to expense entries

Processing Supplier Invoices

Streamline the handling of incoming invoices:

• Scan or forward supplier invoices to Moneybird
• Use the automatic data extraction feature to populate expense details
• Set up recurring expenses for regular bills
• Track payment status and due dates

Categorizing Expenses

Proper categorization is essential for accurate financial reporting:

• Use Moneybird's predefined expense categories or create custom ones
• Set up rules for automatic categorization based on vendor or description
• Split expenses across multiple categories when needed
• Tag expenses for more detailed reporting

Automating Bank Reconciliation

Connecting Bank Accounts

One of Moneybird's most time-saving features is bank connection:

• Connect your business bank accounts directly to Moneybird
• Import transactions automatically on a daily basis
• Support for most major Dutch banks (ING, ABN AMRO, Rabobank, etc.)

Transaction Matching

Moneybird can automatically match bank transactions with your records:

• Automatic matching of incoming payments with open invoices
• Suggestion of expense categories based on previous transactions
• Bulk processing of similar transactions

Creating Rules

For recurring transactions, set up rules to automate processing:

• Define conditions based on amount, description, or counterparty
• Automatically assign the correct ledger account and tax rate
• Add tags for reporting purposes

Well-configured rules can reduce manual processing by up to 80% for regular transactions.

VAT and Tax Reporting

Preparing VAT Returns

Moneybird simplifies VAT (BTW) compliance:

• Automatic calculation of VAT amounts for each quarter
• Clear overview of VAT to be paid or refunded
• Direct submission to the Dutch Tax Authority (Belastingdienst) via integration
• Historical record of submitted VAT returns

Year-End Reporting

Prepare for annual tax filing with Moneybird's reporting features:

• Generate profit and loss statements
• Create balance sheets
• Export financial data for your accountant
• Access detailed transaction reports by category

Leveraging Integrations

Payment Providers

Moneybird integrates with various payment providers:

• Mollie for online payments
• iDEAL for Dutch bank transfers
• Credit card processors

These integrations allow your clients to pay invoices with a single click, improving cash flow and reducing payment delays.

E-commerce Platforms

If you run an online store, connect it to Moneybird:

• WooCommerce integration
• Shopify connection
• Magento compatibility

These integrations automatically create invoices for online orders and update inventory records.

Time Tracking and Project Management

For service-based businesses, integrate with:

• Toggl for time tracking
• Asana or Trello for project management
• Google Workspace for calendar and document management

Advanced Efficiency Tips

Using the Mobile App

The Moneybird mobile app allows you to manage finances on the go:

• Create and send invoices from anywhere
• Scan receipts immediately after receiving them
• Check payment statuses while away from your desk
• Respond quickly to client inquiries about invoices or payments

Setting Up User Roles

For businesses with multiple team members, configure appropriate access levels:

• Admin access for business owners and financial managers
• Limited access for team members who only need to submit expenses
• Accountant access for your external financial advisors

Regular Maintenance

To keep your Moneybird account running efficiently:

• Review and update categorization rules quarterly
• Archive completed financial years
• Clean up your contact list periodically
• Update invoice templates when your branding changes

How Glodinas Finance Can Help

At Glodinas Finance B.V., we are experts in Moneybird implementation and optimization:

• Initial setup and configuration of your Moneybird account tailored to your business needs
• Custom automation rules to minimize manual data entry
• Training sessions for you and your team on efficient Moneybird usage
• Regular maintenance and optimization as part of our bookkeeping services
• Integration with other business systems to create a seamless workflow

Our bookkeeping services start at €130/month (ex VAT) for ZZP'ers and €150/month (ex VAT) for BVs, including full Moneybird management.

Conclusion

Moneybird offers powerful tools to streamline your financial administration, saving time and reducing errors. By fully leveraging its features—from automated invoice management to bank reconciliation and reporting—you can focus more on growing your business and less on administrative tasks.

Remember that the key to efficiency is proper setup and consistent use. Whether you manage Moneybird yourself or work with professionals like Glodinas Finance B.V., investing time in optimizing your bookkeeping processes will pay dividends in reduced administrative burden and improved financial insights.