To successfully create accounts for reconciliation between Business Central (BC) and Kolleno, please follow the detailed steps below. You can use this guide to set up the necessary accounts for handling payments, bank ledgers, and processing fees.
Step by Step Guide to Creating New Accounts
Step 1: Navigate to “Chart of Accounts”
Open Business Central and use the search bar at the top right to find “Chart of Accounts”
Click of “Chart of Accounts” from the results:
Step 2: Create a New Account
Click on the "New" button to create a new account.
In the account creation form, fill in the following details:
No.: Enter a unique account number.
Category: Select the appropriate category for the account.
Subcategory: Choose the relevant subcategory.
Ensure the "Account Type" is set to "Posting."
Ensure that "Direct Posting" is enabled.
Ensure that the “Posting” section is left blank. This prevents any automatic postings that may conflict with the reconciliation process.
Step 3: Repeat this Process for the Following Accounts
Repeat the account creation process for the following three accounts:
Undeposited Funds Account:
This is the holding account to record all payments made by customers.
Bank Ledger Account:
This account will track all payouts received from the payment service provider.
Processing Fees Account:
This account will record the processing fees charged by the payment provider.
Remember the accounts created as these will be used to setup reconciliation in Kolleno.
Step 4: Configure Reconciliation on Kolleno
On Kolleno, go to Settings → Payments → Payment Provider → Reconciliation
Select a suitable currency.
Map the created accounts to Kolleno:
Conclusion
Once all three accounts are set up, they will be ready for use in the reconciliation process with Kolleno. Ensure that the accounts are correctly configured to match the intended use cases to avoid any discrepancies during reconciliation.
For further assistance, refer to the screenshots provided at each step, or contact support.