Creating general ledger numbers
- Create a general ledger number on your balance sheet. This general ledger number will allow you to keep track of which amounts you are still owed by Mollie. This suspense account represents your outstanding balance with Mollie.
Most bookkeeping packages allow you to do this by adding an extra bank account. When you are asked to fill in an account number, choose NL30 ABNA 0524 5909 58. This number is also listed in the MT940 files. This way your bookkeeping software knows which account the files are intended for.
- You'll also need a general ledger number for the costs that Mollie charges you. This general ledger number should start with the number 4.
- Is credit card included in your Mollie payment methods? In some cases, this means a reservation is created (which is paid out later). You will need an additional general ledger number on the balance sheet for these reservations.
How often should you import?
You must now choose how often you want to import the MT940 files. Mollie offers three options that you cannot use interchangeably.
- Daily statements
Each day, you download and import an MT940 file. It contains all Mollie transactions, payments, and invoices from the previous working day.
- MT940 payout files
Each MT940 file comprises all transactions, possible reservations and deducted costs in one single payment. The frequency with which you should import these files into your accounting system depends on how often you are paid out by Mollie.
- Monthly statements
Each MT940 file comprises all the transactions of a whole month. The advantage is that you only have to import the statement once a month and you don't have to import as many entries.
All MT940 files contain the transactions, possible reservations for credit card, costs and invoices of that period.
Ready to import!
You are now ready to import the MT940 files. This will result in a number of entries that you must assess and post to general ledger numbers. This is done in the same way as when you import statements from your current account.