How do I enter and process my Mollie transactions using accounting software?

You can create different general ledger numbers in your accounting software to account for the information you want to track. 

1. Create a new general ledger number in your accounting software.
2. Under account number, enter NL30 ABNA 0524 590958.
3. Fill in any other required information.
    

You may want to create general ledger accounts to account for the following:

• Settlement delays: If you offer non-guaranteed payment methods like credit cards and Klarna, it might be helpful to mark them in your general ledger.
• Revenue & costs: To get an overview of the revenue and costs charged on your transactions. 

1. Log in to your Mollie Dashboard.
2. Export the balance report or settlement you want to assign to your ledger number in your preferred file format, such as MT940.
3. Import the file into your accounting system.

The file will create a list of entries for you to assess and post to your general ledger number.

 

Importing files in Twinfield

Unfortunately, you can’t import Mollie-generated MT940 files directly into Twinfield. However, Twinfield can read the file if you make a minor manual adjustment to the MT940 file.

1. Log in to your Mollie Dashboard.
2. Export your balance report or settlement in the MT940 format.
3. Open the MT940 file with a text processing program (e.g. Notepad)
4. Replace the first line with the following four lines: 

ABNANL2A
940M
ABNANL2A
:20:ABN AMRO BANK NV

5. Resave the file and import it into Twinfield.

Step 1. Review your books.

Separate your Profit & Losses (e.g. revenues, costs) from your Assets (e.g. bank statement.) Most bookkeeping systems should do this for you automatically. You need to book your costs manually, but your Ecommerce platform will automatically add your revenue. We assume your bank statement is already uploaded. 

Accounting systems often create a suspense account automatically when you upload a balance report. If a suspense account wasn't created after you uploaded your Mollie balance report, you can try entering the following bank account information: NL30 ABNA 0524590958.

Step 2.  Fill in your suspense account.
Export your Mollie Balance Report and use it to fill your suspense account. Your Balance Report will include payments, deductions, settlements and/or withheld fees. You can download this daily or monthly.

Step 3. Reconcile your transactions.
You can now begin to reconcile all sales with your payments, your Mollie invoice, and your bank settlement with your Mollie settlement. You can check whether you have processed your transactions correctly by comparing the final amount to your current Mollie balance. 

 

Step 1. Review your books.

Separate your Profit & Losses (e.g. revenues, costs) from your Assets (e.g. bank statement.) Most bookkeeping systems should do this for you automatically. You need to book your costs manually, but your e-commerce platform will automatically add your revenue. We assume your bank statement is already uploaded. 

Step 2. Download your Mollie Settlement Report.

To download your Mollie Settlement Report, go to Administration > Settlements. Your Mollie Settlement shows you all of your revenue, deductions and costs. Download the settlement you wish to clarify.

Step 3. Replace.

In your accounting system, remove the original Mollie settlement from your bank statement and replace it with the Mollie Settlement Report you just downloaded. The total amount (e.g. all your payments, deductions, and costs) will match the amount settled in your bank account. 

Step 4. Reconcile your transactions.

You can now begin to reconcile all sales with your payments and your Mollie invoice.