How do I process transactions in my accounting system with a suspense account?

If you use a suspense account for your accounting system, you can immediately see how much money Mollie owes you or how much you owe Mollie. This is a useful method if you have many individual transactions in your Mollie account or if you don’t want to do the math yourself.

Do you want to use a suspense account in your accounting system? Many accounting systems make a suspense account for you when you import your banking files from Mollie. If your system did not make a suspense account for you, you can enter the following bank account information: NL30 ABNA 0524590958.

 

Automatically enter your earnings in your accounting

By using Mollie export files you can automatically enter your earnings in your accounting system. You can download these export files as a monthly or daily report. In here, you will find all payments that are processed during that time period:

  1. In your Mollie Dashboard, go to Administration > Report.
  2. Select Export
  3. Choose a file type, such as MT940 or CODA.
  4. Select the day or month you wish to export.

 

Example

We will show you with an example how you process a Mollie transaction in your accounting system by using a suspense account. The following ledger number are used:

  • 1000: Payment account
  • 1010: Suspense account
  • 1300: Debtor
  • 2000: Crossposts
  • 4130: Costs payment traffic
  • 8000: Payment return

On March 26, you sell a set of flower pots to a customer and you send him a digital invoice. Your customer is now the debtor. You transfer the money from your revenue account to your debtor account. You now know you still owe this money from someone. This transfer is done manually.

Date

Account

Debit

Credit

Description

26-03-2020

8000

 

€ 100,00

Sales order  #1337

26-03-2020

1300

€ 100,00

 

Sales order #1337

On March 27 your customer pays the invoice of € 100,- via iDEAL. The money is now visible in your Mollie balance. We pay this money to you on the next payment date. You can fill the suspense account using your balance export. This includes a list of sales, costs and payments. 

Date

Account

Debit

Credit

Description

27-03-2020

1300

 

€ 100,00

Payment order #1337

27-03-2020

1010

€ 100,00

 

Payment order #1337

Days later, Mollie pays you the amount, excluding the transaction costs. You receive an email from Mollie and you can see the transaction on your bank statement. The next day, the money is transferred to your bank account. This payment is visible in your balance export.

Date

Account

Debit

Credit

Description

29-03-2020

1010

 

€ 99,55

Payment 180201.1503.01

29-03-2020

2000

€ 99,55

 

Payment 180201.1503.01

After the money is transferred to your account, you can import your bank statement. You can now reconcile the crosspost between Mollie and your bank account. 

Date

Account

Debit

Credit

Description

30-03-2020

2000

 

€ 99,55

Payment 180201.1503.01

30-03-2020

1000

€ 99,55

 

Payment 180201.1503.01

On the first business day of the following month, Mollie sends you an invoice of the transaction costs. This amount remained on the Mollie suspense account in your accounting. You can transfer this amount from your suspense account to your account for payment traffic. 

Date

Account

Debit

Credit

Description

01-04-2020

1010

 

€ 0,45

Invoice number 2015.105599

01-04-2020

4130

€ 0,45

 

Invoice number 2015.105599

Your balance is now € 0,-.