Transfer payments from MyNets to your accounting system
Get a realistic overview of your payouts and fees with PayMatch. Your reports from MyNets are loaded directly into your accounting system, where payments and fees are posted and matched with the associated invoices. This makes it quite easy and straightforward to do a bank reconciliation.
Extension to webshop sales
PayMatch is an extension to integrations that records webshop sales as an invoice in the accounting system.
Keep track of your receivables
Register payments based on the type of card used, and get an overview of receivables from acquirers.
Settling and reconciliation
Payments and fees are settled with invoices and are made completely ready for reconciliation with the bank.
MyNets extension for integration between accounting and webshop
Link MyNets to integration between webshop and accounting
Transfer payments and fees from the acquirer and settle with invoice payments. Payments, fees and any differences are prepared for an easy and quick bank reconciliation.
How does it work?
PayMatch transfers your reports from the acquirer to your accounting system. Lines for payments and fees are posted here and settled with the invoice payments. Differences are entered in a separate account, so it is easy to keep track and find the reason for the difference. Thus, your payments, fees and any differences are ready for settlement and reconciliation with the bank.
Orders are automatically retrieved from the webshop to create an invoice in the accounting system that contains customer data and order lines. The integration validates the amount on the invoice and posts it automatically.
The invoice is registered as paid. The payment term used is governed by the payment method in the webshop. The payment term transfers the payment to a receivable account or customer.
The receivable amount is handled via a customer or account dedicated to the specific acquirer. Payments and fees are settled with this account.
Everything is handled via a cash journal, dedicated to the acquirer, in which payments, fees and invoice payments are posted and matched. Card fees are handled via an expense account for the purpose.
If there are differences, or if there are payments that cannot be matched to an invoice payment, this is handled via an error account. This account must be reviewed on an ongoing basis to find and correct the cause of the difference.
The accounting system is now ready for you to reconcile the total payout with the bank and complete any open postings.
How to match your payments with payouts and fees
Via a transaction ID or order number from the webshop, the invoice in the accounting system is matched with the payment from the acquirer.
Payment in webshop
An order is paid in the webshop. The order number or transaction ID is included on the invoice to the accounting system.
Invoice is posted
The invoice is set as paid via the payment type for the card type. The total is transferred as a receivable from the acquirer.
Payouts are matched
Payments from the acquirer are entered into the accounting system and settled with the associated invoice.
Reconciliation ready
Payments, fees and any differences are ready in the cash journal to be reconciled with the bank.
