To create a good fundament for your accounting, you need to understand 3 basic principles: revenue and deductions, costs and your balance. In addition, you can choose to do your accounting with or without a suspense account.
You can find your balance in your Mollie Dashboard when you go to Administration > Report. Here you can find your deductions, costs and your final balance.
- Revenue and deductions
Most sales systems automatically create an overview of your revenue and your invoices. Your customers pay these invoices using Mollie services. If you don’t use an online sales system, please check your Mollie account. You will find an overview in your balance. However, VAT is not yet calculated in this balance. You need to do this manually. In your balance sheet you will also find all deductions, for example reimbursements to your customers.
Every month, we will send you an invoice with the costs for using our services. You normally don’t have to pay this invoice, since we automatically deduct the money from your balance.
We deposit the money that’s on your balance to your bank account. You can see the deposits on your bank statement.
You can do your accounting using two methods:
- With suspense account
We advise you to use a suspense account. Using such an account gives you a better overview of your accounting. You can instantly see how much of you money we have and how much we still need to pay you.
You or your accounting makes a suspense account and fills this account with your balance exports. Your export balance is available in MT940 or CODA format via Administration > Payments > Exports.
- Without suspense account
If you are a small business owner it might be difficult to use a suspense account. You can choose to make payout exports instead of using a suspense account. These exports show you the same amounts as a payout on your bank statement, but your sales transactions and deducted costs for your Mollie invoice are shown separately in your bank book.
You can export your report as a MT940, CODA, CSV or PDF file in Administration > Payments > Exports.