Bank statements

A frequently asked question is: "How can accounting and Buckaroo reporting cooperate properly"? Since there’s a multitude of accounting packages, the answer to this question could be quite elaborate, listing the specific details of each particular package. The explanation provided below however is a basic explanation of an accounting system which applies to every single accounting package. The Buckaroo Payment Plaza already offers many formats for the different accounting packages. Hence the numerous versions of that specific format. The statements can also be provided automatically via the Buckaroo SFTP server. In that case, a statement is made available on the SFTP server every day. In the online statements, every transaction is immediately visible that is given a place on the statement for that day. With these options it’s possible to install automated processing of the ledgers. When it comes to the processing in accounting packages that can only work with already paid orders, such as Exact and SAP, it applies that reconciliation of the invoices with the Buckaroo statements is easily performed for invoice numbers in closed ranges by using the order number as a key in the execution chain.

Formats

In the Buckaroo Payment Plaza, bank statements can be downloaded in serveral formats: the MT940 and CAMT053 bank format or the CSV (comma-separated values) format.

• The bank format MT940 (several in a number of variants) and CAMT053 format can be downloaded directly in accounting. In this case, Buckaroo can be regarded as the bank from which bank statements are acquired. There are different MT940 formats available for the different accounting packages, because the details differ per package.
• The CSV format is available for direct downloading of the mutation lines as journal entries. These journal entries describe the mutations in the different general ledgers in accounting.

File contents

Because each line is given a transaction type, it is possible to differentiate the lines in the statements and CSVs per type of mutation. This way, the revenue of for example iDEAL (transaction type C021) can be differentiated from the revenue of authorisations (for example transaction type C004). In addition, the costs involved with the payment transactions are registered under a different transaction type. These can be registered in the general ledger ‘Buckaroo payment transactions costs’. Each month, the costs on this general ledger can be reconciled with the invoice sent to the Merchants by Buckaroo. Collected administrative costs can be registered with their own transaction type (Axxx), so that these can be processed separately from revenue in accounting.

Integration of accounting packages with the Buckaroo reports

With regard to the integration of the Merchant’s accounting package with the Buckaroo reports, it is important to make a distinction between collecting payment methods and processing payment methods.

• Collecting: Buckaroo collects the money on behalf of the Merchant on an account managed by Stichting Derdengelden (third-parties account). Buckaroo performs the reconciliation in accordance with the payment obligations as previously communicated by the Merchant. In the schedule in ‘Buckaroo journal posts’, these revenues are highlighted in orange.
• Processing: Buckaroo uses the account details that were provided by the Merchant. The amounts will be credited directly to the account. These revenues are highlighted in blue in the ‘Buckaroo journal posts’ schedule.

The transaction types on the Buckaroo statements/reports (green section) determine in which general ledger the journal entries should be included. For the collecting payment methods, the items provided by the front end or back end (blue section) are the cross-entry on the general ledger accounts. For the processing payment methods, the statement lines of the third-party accounts are used as the items for cross-entry on the general ledgers.

Accounting terms