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Manage Stripe, Paypal, Redsys & Gocardless commissions easily with Holded
Do you have an online business and use a payment gateway to collect your bills? With Holded you can collect and reconcile all your bills just by synchronising your bank statement.
- Create your bank Create your bank and synchronise the bank statement automatically.
- Create a payment gateway Create a payment gateway and check the generated account.
Find out how to do it in the Academy article "Create a payment gateway".
- Create a contact Create a contact with the name of the Payment Gateway
- Set up the payment through payment gateway in your online store Set up the payment through Payment Gateway in your Online Store within Holded from the Settings section. Example: If we have a Shopify store and we identify that the collections are registered directly by the "Stripe" gateway.
- The total amount of the invoice will be charged in the payment gateway Once you have imported the orders of the Online Store and converted to an Invoice, they will be charged by the "Stripe" gateway for the Total amount of the invoice (for this example, we'll say £100), which is correct since the customer has paid them.
- Access the bank and click Reconcile> Transfer Access the bank and click Reconcile > "Transfer" the payment received against the accounting account of the Payment Gateway. Now we will find that in our bank account the amount charged has already discounted the commission of "Stripe" and we have charged £95 (missing £5 commission). Access the bank statement in Holded, click on the button Reconcile > select the movement > "Transfer button" and select the Stripe account. With this step we get to "inform" Holded that we have received a "Stripe" charge for the actual amount of £95 (sale minus commission) and for which it is reconciled. Now we would see what to do with the remaining £5 that the invoice created has registered that are charged by Stripe, but that we haven't received in the bank because it is the commission.
- Create a purchase Create a purchase for the value of the commission paid to the payment gateway. In the invoice we have reported the payment for the Total Amount (£100) through Stripe, we have to "regularise" the amount of the commission (£5) and therefore we create a purchase with the value of the commission paid to the payment gateway. The contact will be "Stripe", which will have its own supplier, accounting account and the payment will be made directly from the "Bank: Stripe".
The same example can be applied in the case that the payment gateway has a monthly transfer of the total amount of sales minus the commission. You must follow the same steps, and from point 6 create a single purchase for the total value of the month's commissions.
With these steps it's not necessary to import the extracted value from the payment gateway, since the transactions are directly reconciled with the final collections received at the bank.