Follow

Commission's fee accounting

This explanation of how to book commission fees / expenses in bexio, is a recommendation on the part of bexio. The accounts used are only examples and should not be adopted exactly as-is. 

Further reading:
❯ Worldline | SIX Payment Services
❯ PayPal
❯ Stripe

Contents


Explanation based on payment services offered

When payment is received via PayPal / Stripe / SIX Payment Services, the entire invoice amount is posted to “Receivables Account1029 (a different account number can be used, this can be changed manually). This is also the desired behavior, as the invoice has been effectively cleared.

The payment fee (commission) charged by the third-party provider can be posted afterwards by making a manual posting. This is recommended once the paid amount has been credited to your bank account and the transaction has been made available for reconciliation in bexio banking. This transaction can now be offset on the “Receivables Account” (1029). The remaining amount in the Receivables Account (the commission) can be cleared by a manual posting done either immediately or at the end of the month for example.

Pro Tip:
We recommend that you rename account "1029 - Bank" to "1105 - Receivables Payment Service Provider" and place it in account group "110 - Rcvble. from L+L". A payment processed through a Payment Service Provider (PSP) is a receivable from the time the payment is made until it is reimbursed by the PSP.

Application example

  1. The invoice amount and the amount paid via PayPal is CHF 45.
  2. The invoice is automatically booked as paid via the receivables account "1029 - Bank" debit account set in background.
  3. The credit note is credited as a bank entry minus the commission and collected in Banking. For example: CHF 43.87. (Each payment service provider provides its customers with a detailed statement for all payouts. This can be accessed via their online portals).
  4. This transaction is settled via the receivables account (1029 - Bank).
  5. The remaining amount in the receivables account is the commission that the payment service provider retains for its service. Check and compare the commissions with the payment service provider's statement. Then clear the commissions either immediately or at the end of the reporting cycle for example, using manual posting via Revenue reductions.
Important: We cannot tell you which posting records and accounts you need to use to post correctly, because we are not accountants or fiduciaries and do not provide accounting support. For these questions we ask you to contact your accountant or fiduciary directly. If you do not have a fiduciary yet, you are sure to find a bexio certified fiduciary in your area. You can find our Fiduciaries directory here.

d1.png

Automatic receipt of payment, booked by selecting the PayPal payment service 

 

d2.png

Overview of the bookings in the "Receivables" account

 

d3.png

Übersicht der Buchungen auf dem «Forderungskonto»


Posting charges in other situations

Basically, the same recommendation as above can be applied for booking the charges / commission in other situations. The only difference is that posting through the "1029 - Bank" account will not be done automatically. Also, the account selected may not be the same. You will learn how to create a "Receivables / Pass-through account" yourself in the next section.

 

Create a receivables account

To be able to select the “Receivables Account” (credit card or similar) as the payment account for each of the incoming & outgoing payments in an invoice or supplier invoice, this account must have been initially entered in the “Banking” module.

When you create a bank/cash account in Banking, bexio always generates, in the background in Financial Accounting, a “Linked Account” for the chart of accounts. This link may be irrevocable and not configurable. Likewise, depending on the version of your chart of accounts, an existing account from the chart of accounts cannot be subsequently linked to an account from the Banking area. (See also System accounts)

Recommended procedure:

  1. Click on "Add bank account" under "Banking". Activate the checkbox "Is a cash account".
  2. Complete the mandatory field "Name" and the currency and confirm your entries by clicking "Save".
  3. An account number >1000 will be created accordingly in your account plan, with the designation "Cash account (XY) CHF" or you will be asked directly to assign the account number. Check under: "Settings" → "All settings" → "Accounting" → "Financial accounting chart of accounts". Create this account in the 11xx accounts area and place it in the group 110 - Rcvble. from L+L".

 

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request