There are several things to consider when doing your bookkeeping.
Your settlements contain the revenue generated from payments your customers made through Mollie. Revenue refers to any money brought into a business (in other words, your sales and invoices.)
- You can use your Settlement and Balance Reports to understand which funds belong to which sales or invoices.
- Mollie’s revenue stream does not calculate sales VAT or show unpaid invoices. For this reason, we recommend using a bookkeeping system to get an accurate overview of your revenue and your VAT.
All businesses incur costs. In order to improve our services and help you as a merchant, we charge a service fee.
- Each month you will receive an email concerning service-related charges to your account. This invoice will show a breakdown of all your fees. Unless stated otherwise, you do not need to pay this invoice as our service fees are deducted automatically from your transactions.
- In your Settlement and Balance Report, you can see which funds were deducted from which invoice.
Your settlements are the sum of money you receive to your bank account. Mollie pays out the funds from your balance directly to your bank account based on the specified payout frequency in your account.
Bank statements always specify all transactions in your bank account (including your Mollie settlement). You can correlate your Settlement and Balance Reports to one another to reconcile your accounts.
Accounting and reconciliation
You can do your accounting with or without a suspense account.
Suspense accounts provide a helpful overview of your accounting by making it easy to see what was deducted from your account and what you can expect back.
- You or your accountant can fill your suspense account with your daily or monthly balance by importing your Balance Report into your bookkeeping program.
- To export your balance, go to Administration > Report > Export and select the file format you prefer (MT940, CSV, CODA or DATEV).
Without a suspense account
If you have some difficulty setting up and using a suspense account, you can choose to make Settlement Exports instead.
- To get a full breakdown of your revenue, deductions, and costs, replace the settlement on your bank statement with your Settlement Export.
- You can export your Settlement Reports as an MT940, CODA, CSV or PDF file in Administration > Settlements. Select your reference and click Export.
Good to know
We have several accounting integrations and APIs that can help you automate your bookkeeping.
- How do I export my transactions, settlements, or balance report?
- How do I match my sales invoices to my exports?
- How do I process transactions in my accounting system?