Import the accounting transactions from Apaleo on a regular basis into your main ledger. Only bundle payment methods on one account in the main ledger if they are settled and paid out together. An example: As American Express will in most cases be settled separately and pay out directly, you should not have the transactions from American Express on the same account as Mastercard or Visa transactions. Preferably you import the accounting data from Apaleo not as daily aggregates, but transaction by transaction.
In your accounting system (main ledger) we recommend that you create the following sub-accounts for the payment service provider:
- A receivables account for all payment receivables towards the payment cards (VISA, MC etc.).
- A receivables account for the rolling reserve.
- A receivables account for an optional refund reserve.
- A creditor account.
The following information for each of your merchant accounts (COM and POS) can be found directly in Apaleo, Payment section:
- Your monthly invoice from Apaleo
- The individual settlement reports
Reconciliation of payouts
Receiving a payment to your bank account, you will need the corresponding Settlement Details report that matches the batch number, in order break down the payment into single transactions and record them accordingly.
IMPORTANT: There can be batches without a payout, so make sure that you process every single batch.
- Post the gross amounts (Gross Debit GC) from the transactions with Journal Type "settled" and "refunded" to the receivables account for payment receivables. For reconcilliation you can use the original PSP reference or the merchant reference.
- Any correction to the rolling reserve or the refund reserve should be postet to the corresponding receivables account. These corrections are listed with Journal Type "deposit correction" or "reserve adjustment" respectively.
- Book the sum of all fees (Journal Type "fee"), as well as the individual transactions fees from columns Commission (NC), Markup (NC), Scheme Fees (NC) und Interchange (NC) as advance deductions to the creditor account.
- Post the deductions for Apaleo invoices to the creditor account. You can find them with Journal Type "invoice deduction".
Apaleo will bill you after one month for all "payment processing fees". Here the amounts that were "already deducted from settlement" will be highlighted and the remainder will be held back with the following settlement batch.
A settlement batch leads to a payout, if the amounts from the payment receivables are higher than the deductions for fees, remainders from invoices and corrections for the rolling reserve. If the payments (received) are not high enough, there will be no payout and the liability will be transferred to the next batch (Journal Type "Balance transfer").
Apaleo invoices are divided into:
- Payment Processing: including the Processing Fees, Payment Method Fees, Chargeback Service Fees and Revenue Protect Service Fees.
- Terminal Service: Billing of insurance fees for malfunctioning card reading devices (Terminal Replacement Services Fees and Terminal SIM Card Subscription Fee).
- Terminal Sale: Billing for terminal purchases and accessories (Terminal Accessory Sale).