Ways to account for deposits which are received online  

When a deposit is received online via Sirvoy's payment solution the payment is recorded in the booking details. These payments can be registered as deposits (use your assigned account code, eg ‘2897 received deposits’ (Change the account code in your Sirvoy account by going to "Settings > Payments & Invoicing > Chart of accounts" and click "Edit"). It may be helpful to also create an account code that represents the account of the payment provider (eg “1921 PayPal Account”).

 

You can keep account of the transactions this way:

  1. Export the transactions for any period (including fees) from your payment service provider (Paypal, RBS Worldpay), and register the transactions like this:2897 received deposits      -100.00
    1921 PayPal account           +96.70
    8490 Bank charges               +3.30
  2. Enter the same account code (eg “2897 received deposits”) in your Sirvoy account by going to "Settings > Payments and invoicing > Chart of accounts" and click "Edit", and find the field next to "Deposits".
  3. When it’s time to invoice the remaining amount the deposit already paid will automatically appear on the invoice. The deposit will automatically be deducted from the total charge . The invoice journal will record all the transactions in the following way:3040 sales                        -240.00
    2610 Outgoing Tax              -60.00
    2897 received deposits     +100.00
    1910 Cash                        +200.00   For the above example, the total amount due is $300. $100 has already been prepaid
    online, so only $200 is paid in cash upon departure.
  4. Withdrawals from the account of the payment service provider can be recorded as:1921 PayPal Account        -96.70
    1910 Cash                       +96.70
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