Sèdjro Gbaguidi’s group has a company in Parakou. Customers there often pay by card at the register. For the cashier, the sale is finished as soon as the terminal answers. For Mahougnon Tossou, the group’s accountant, the money is not in the bank yet: the card operator pays a few days later, and keeps a fee. Mahougnon needs to know which card payments are still to come, and to record the day the money really arrives. The same steps apply to any business that is paid through a card operator.

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Who works where

The company that takes the payments works in the company space, where it can look at its payments and settlements. The organization that owns the money account works in the organization space, on the book of one company. Confirming and reversing a card settlement belong to the organization space only.

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Follow incoming payments

Every payment recorded for accounting is a payment source. The Parakou company lists them with List payment sources and opens one with View a payment source. Cheques are not here: they have their own pages, see Handle cheques. A settlement tells whether the money of a payment has arrived. List settlements filters them by status, payment method, money account and dates, and View a settlement opens one. Mahougnon does the same from the organization with List settlements, choosing the company book.

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Confirm that the money arrived

When the operator’s payment shows on the bank statement, Mahougnon records it with Confirm a card settlement. He gives the date, the operator’s reference and the fees. Exowpee posts the entries in the books of the company and of the organization. The next step is to match the bank statement line, see Reconcile bank statements.

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Undo a settlement

If the confirmation was wrong, or the money is taken back, he uses Reverse a card settlement. A settlement confirmed earlier is reversed with entries in both books. One that was never confirmed is simply cancelled.

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The rules

  • All these actions need the accounting module to be active for the organization.
  • Confirming and reversing a card settlement are possible from the organization space only.
  • In the organization space, the book chosen must be a company book. The organization’s own book and client books are refused. You need access to that book and, to confirm or reverse, to the organization’s own book.
  • Only credit card settlements are confirmed or reversed this way. A bank transfer or a mobile money payment is settled as soon as it is recorded. Cheques follow their own workflow.
  • The confirmation date is required and cannot be before the settlement’s initiated date. It must fall in an open fiscal period of both books.
  • The money account of the settlement must still be active and linked to an accounting account.
  • A cancelled or reversed settlement cannot be confirmed.
  • Confirming again returns the same settlement only when the date, the reference and the fees are identical. Other details are refused.
  • Fees are accepted on the card payment route with the direction outgoing, or on the money account with the direction incoming. A fee amount is refused when the matching fee rule is not of type actual, and required when it is. A fee must leave a positive amount after it is taken, and a fee on both sides at once is refused.
  • Reversing a settlement that is already cancelled or reversed returns it unchanged. Reversal is refused if its entries were reversed or refunded elsewhere.
  • A reversal date, when given, cannot be before the confirmation date. When the confirmation entries sit in a closed period, the reversal is dated on the first day of the next open period instead.
  • Bank matches on the organization’s card settlement entry are kept when a settlement is reversed.
  • Payment sources and settlements are listed for one company at a time.

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All the actions of this topic