This article describes the setup for handling the payout report from your acquirer in your accounting system. The setup assumes that your acquirer system is already connected to IEX. If you need help connecting your acquirer, you will find guidance in the Guides for connecting your systems.

The integration with your acquirer is normally used with a sales channel - typically an online store or a subscription platform.

Note: This article is not relevant if you are using the IEX Paymatch.

After you have connected the integration to your acquirer, you need to define how payouts from your acquirer should be imported into your accounting system. You will find the settings under:

Systems -> [Your accounting system] -> Edit settings -> Settlement settings

For the platform to transfer data from your acquirer to your accounting system, you need to choose which accounts should be used to handle the payout.

Each accounting system has accounts in the standard setup that can be used here. If you are unsure about what to choose, we recommend that, you contact your accountant to find out more about what is right for you.

Below you will find an example of how the system can be set up. The settings will be the same regardless of which acquirer and accounting system you use, as the principle of the transfer and setup is always the same.

When the acquirer generates a payout report, it's usually a consolidated file with multiple lines for individual sales in the webshop. This setting allows you to consolidate the individual lines into a batch, so you only get one line with the total amount that your acquirer deposits into your account, along with a line indicating the amount settled in fees. By default, we recommend activating this setting. If you want a separate line for each individual sale, please contact our support team.

Here you can enter what the deposit line will be called in the cash book. You can advantageously name it after the acquirer used so you can easily keep track of the cash book and payouts. This is particularly beneficial if you use multiple acquirers.

Here you can enter what the fee line should be called in the cash book. You can advantageously name it after the acquirer used so you can easily keep track of the cash book and payouts, especially when using multiple acquirers.

The payout from your acquirer cannot be directly posted. Therefore, it is inserted into a cash book where you need to approve the lines, and then they will be posted to the accounts that you have specified in the integration. Most accounting systems have a standard cash book that can or should be used. In some accounting systems, for example, e-conomic, you have the option to create a new cash book. If possible, we recommend creating a dedicated cash book specifically for handling payouts from your acquirer, as it usually provides better clarity in the accounting..

Here you should choose the account that the integration uses to book the fees calculated by your acquirer.

Here you should choose the account that the integration uses to book the amount paid from your acquirer to your bank account. We recommend using the same account to which the money from your acquirer is deposited, to facilitate bank reconciliation in the accounting.

Here you should choose the account that the integration reduces by the amount that your acquirer pays out, plus the amount of the fees.

This setup requires that your balance account is also used when an invoice is posted and that the invoice amount is registered in the account. Depending on the accounting system, this must be done either manually when you post the invoice yourself or through the integration settings if you use automatic booking. If you are unsure how your accounting system handles payment registration, please contact our support.

Once you have selected all accounts, cash book, and entered the titles, remember to press "CLOSE" (in the Settlement settings window) and "SAVE" (the top of your accounting settings).

The integration will now start loading payouts from your acquirer. Note, that the import always occurs overnight and the payout frequency varies depending on the acquirer. You will find figures in your cash book the day after setup at the earliest, where you will need to approve them.

The acquirer integration automatically imports payout reports from your acquirer into your accounting system. The payout report includes payout lines, fees, and references (transaction IDs).

The imported payout offsets your sales on the balance account used.

The actual sales data used to create an invoice in the accounting system is handled through an integration with an online store or subscription system.

Example:

You make 3 sales at 100 DKK each.

For each order from your sales channel (online store or subscription system), an invoice is created in the accounting system (handled through the integration with the sales channel). When the 3 invoices are posted, a total of 300 DKK (3 x 100 DKK) will be credited to the "Balance [acquirer]" account.

The day after, your acquirer pays out the money for the 3 sales. The payout report is imported, and the following is created:

The payout from your acquirer reduces the "Balance [acquirer]" account, which is now at 0 DKK, since you have received the money for the 3 sales from your acquirer.

In practice, the balance account will rarely reach 0, as new sales come in continuously while the payout comes with a delay.

If you have any questions about the setup or acquirer functionality, you can always write to [email protected].