Buckaroo supplies bankstatements. The Merchants can use the statements to book the incoming funds and the costs of the payment traffic via Buckaroo. This affiliation sometimes raises questions. The explanation on this page is a description possible way the accounting of the funds can be handled.
Ledgers in accounting
With multiple ledgers, the various steps of the online payments can be monitored correctly. It starts at the moment of a succeeded payment by the Debtor in the checkout (1 and 2). This is followed by the moment that the funds become available and the associated payout by Buckaroo (2a). After this the costs of the payments and the invoice of Buckaroo is received (2b and 3). The drawing below shows where these steps are located in the process and how they can be set up. In this way, the time interval between the commitment of the funds and the actual receipt of the funds can be mapped out very precisely. This is particularly advantageous when payment methods are used that have different payout terms.
Explanation of the ledgers
- Reported daily revenue - The (paid) revenue reported by the Webshop or the CRM system is entered in the accounting program (1) on a daily basis. The transaction lines on the Buckaroo statement are registered as a reversal on this ledger (2). Buckaroo adds this turnover to the Book Balance on the Merchant's account.
- Expected turnover Buckaroo - The reported turnover will also appear on the ledger with the turnover to be received from Buckaroo. The payments on the statements of Buckaroo count as a counter-entry (2a). The payout of Buckaroo is added to the Available Balance on the Merchant's account at a fixed frequency.
- Sales account - The amounts that are paid out by Buckaroo, is part of the revenue of the Merchant. These funds are deposited into the Merchant's homebank account. The payout on the Buckaroo statement can be matched against the money received on the homebank account.
- Buckaroo costs - All payment costs are also included on the Buckaroo statements (2b). This allows a reservation to be made for the expected costs of payment traffic via Buckaroo, to be settled via the Buckaroo invoice (3). The invoice may contain additional costs that are not transaction related. These are settled on the monthly invoice.