go cardless - first invoice issued / paid/ money received. what next......

Question asked by Mike Ashworth 3 years ago

As someone who used to only deal with cash transactions i want to ensure i've got my hear around go cardless payment and how to process / reconcile etc. I'm pretty new to clearbooks so would appreciate some help to enure i get this first one done correctly, then i'll know what to do with future ones.

Here we go....

Gocardless all set up and integrated with clearbooks

gocardless mandate was set up with customer A

Invoiced customer A £39. invoice number INV000100

Gocarrdless collected this money successfully on my behalf .

Sum of £38.61 was received into my bank account (£39 less the gocardless transaction fee)

When I navigate to Sales / Invoices section of clearbooks. Invoice INV000100 is showing as paid.

When I navigate to Purchases/Bills section of clearbooks. I can see that gocardless is showing as having been paid £0.39 transaction fee

The gocardless bank account in clearbooks shows the following transaction info Description Customer A Entity Customer A Deposit £39

Description Gocardless payment Entity gocardless Withdrawl £0.39

With a reconcile / unreconcile button beneath it.

What do I need to do next?

I shall import my csv from bank, and then......

What to do with the £38.61 transaction imported from my bank csv?

What to do with the transaction showing in the gocardless bank account in clearbooks, described above. what is the reconcile thing about??

thanks in advance for your help :-)

2 Replies

Hi Mike,

Go ahead and import the statement for your business account - when you come to explain the receipt of £38.61 use the Transfer tab and explain this a transfer from your GoCardless account. If you have taken payment for just this 1 invoice via GC so far, the transfer should reduce the balance of the GC bank account to 0 (the GC bank account is like a control account in effect).

The reconciliation feature applies to all bank accounts in Clear Books. If there is a tick beside a transaction it means that this is confirmed as matching your actual bank statement - this can help you identify duplicates or missing transactions.

https://support.clearbooks.co.uk/support/solutions/articles/33000203298-manually-reconcile-bank-account

When you import a statement and explain the payment and receipts - they are automatically marked as reconciled. As the invoice payment and the GoCardless transaction fee were not paid via an imported statement they show as unreconciled on the GoCardless account. You can manually reconcile them as explained in the guide above. Hope this helps!

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are