Quick Start Manual

Nederlands  | English


BizFusion Trial
User Interface
Contacts Module
Products Module
Discount Rules
Inventory Module
Sales Module
Purchase Module
Bills & Receipts
Credit note / Returns
VAT Module
VAT over margin
European Trade
Foreign Trade
VAT Shifted
US Sales Tax
VAT Correction
Assets Module
Current Account
Accounting Basics 1
Accounting Basics 2
Accounting Advanced
Year End
Owner Equity
Income Tax
Banking Module
Financial Lease
Cross Payment
CSV Statement
Data Import
Data Export
Plugin: MWW
Plugin: Shopify
Plugin: CCV Shop
Plugin: Shop Pagina
Plugin: WooCommerce
Plugin: Bol.com
Plugin: MyOnlineStore
Plugin: LightSpeed


Payment Service Provider (PSP)

If you have a web store, then you probably use a payment service provider (PSP).
Your customer pays to the payment service provider and the provider pays you a couple of days later.
Most providers never pay the full amount, but the amount minus their fees.
This creates unique accounting challenges.

Assume that you have 5 invoices, each invoice is for a 100 euro.
All the invoices have been paid via a payment service provider.
The provider charges 1 euro per invoice.
This means that we only get 495 euro instead of 500 euro.

- In this section, we show you how to process the transaction fees for your payments.
- We also show you how to alter your bank statements so that you can process the transaction fees.

Web shop plugins
Our web shop plugins always ask if you want to immediately post bank payments on imported invoices.
This option is handy if you don't import your bank statements and don't want to manually enter the payments of each invoice.
We recommend that you uncheck this option when you do import and match your bank statements.

Example Mijnwebwinkel order import

Mijnwebwinkel is a popular Dutch web shop platform.

Transaction fees statement

Periodically, you receive a statement from your payment service provider that specifies
how much they paid out and the transaction fees that they charged for their services.
Your payment service provider is required to provide this statement, because payment providers also
charge VAT/TAX on their services.
You can only ask for a VAT refund when you have a document that proves that you paid the VAT.

Step 1: Register account

First, we're going to register a separate account for our transaction fees / payment costs.
This enables us to easily see what our total transaction fees were at the end of the year.

Go to: 'Accounting > Account' and click on 'New Record'.

Specify name: 'PSP Transaction Costs'.
Select account group: 'Expenses'.

Step 2: Register transaction fees

We can now register the transaction costs/fees of our payment service provider.

Go to: 'Expenses > Costs & Expenses' and click on 'New Record'.

Add a new line for account: 'PSP Transaction Costs'.
The amount that you need to pay is 5 euro.

Post a bank payment for 5 euro on the voucher.
The bank payment is not linked to a bank statement, we will do that later.

Step 3: Process bank payment

Importing bank statements is completely optional.
Your bank statement is an additional check that ensures that all bank payments
have been entered in your accounting system.

- No bank statements
If you don't import your statements, then you need to post a bank payment
of 100 euro on each invoice. You're done after that.

- Importing bank statements
If you do import your bank statements, then you need to alter the imported statements
to correctly process the payments from your provider.

Go to: 'Accounting > Bank statement'.

Select the line that has the incoming payment from your payment provider.

Example of a bank statement that has a payout from a PSP.

We can't properly link the payout to our invoices, because the received amount is slightly lower.

Raise the received amount with the transaction fees that the provider charged.
In our example, we need to raise the amount with 5 euro.
Also specify in the description field that you raised the amount with the transaction costs.
Example: 'Original amount raised with 5 euro transaction costs'.

Next, click on 'add line' and create a new outgoing amount for 5 euro.
Specify in the description e.g.: 'Added to correctly process transaction costs'.

Example of an adjusted bank statement.

The description fields clearly show why the statement in your accounting system differs from your original statement.

You can now link the two lines to transaction documents.
You can link the first line to the five open invoices.
The amount on this line is now 500 euro and it can be precisely matched to the five open invoices.

You can link the open amount on the second line to the Expense voucher that we created in step 2.

You're done after that.