MobilePay is the payment Danes use most, both in webshops and in shops. But the money does not come in one purchase at a time. It comes as one transfer from Vipps MobilePay, often with the fees deducted. This guide shows how to book MobilePay payments and fees in e-conomic, so sales, VAT and the bank all match.
What reaches the bank account
MobilePay gathers your payments and transfers them to the bank as one line. Depending on your agreement, the fees are deducted in the transfer or invoiced on their own. Either way, the bank line does not match a single sale. A transfer is typically made of:
- the customers' payments, one per purchase,
- refunds, which are deducted,
- MobilePay's fees, when they are offset.
You can see which payments a transfer is made of in MobilePay's business portal, where you can also download a report of the transactions.
Webshop or shop: two situations
- A webshop with invoices. If each webshop order becomes an invoice in e-conomic, the MobilePay payment is the customer paying that invoice. It should close the invoice, not be booked as a new sale.
- Sales without invoices, in a physical shop, say, or a webshop that books daily totals. Here the MobilePay transfer is the sale itself. It is booked as revenue with VAT, dated the day the sale happened.
Both can be booked through a clearing account, such as "MobilePay receivable".
By hand
- Create the balance account "MobilePay receivable", if you do not have it.
- Download the transactions for the transfer from the business portal.
- For each payment: debit the clearing account. Credit the customer with the invoice number if the order is invoiced, otherwise credit a revenue account with VAT.
- Fees: debit the fee account, credit the clearing account.
- Refunds: back to the same customer, or as negative sales.
- The transfer: debit the bank, credit the clearing account, dated the day the money reached the bank.
- Check that the clearing account stands at zero.
Example
MobilePay transfers DKK 1,835.98 for three webshop orders that are already invoices in e-conomic. The fees are deducted:
| Entry | Debit | Credit | Amount |
|---|---|---|---|
| Payment, order 1187 | MobilePay receivable | Debtor (invoice 1187) | 488.00 |
| Payment, order 1188 | MobilePay receivable | Debtor (invoice 1188) | 245.00 |
| Payment, order 1191 | MobilePay receivable | Debtor (invoice 1191) | 1,120.00 |
| Fees | Fees | MobilePay receivable | 17.02 |
| Transfer | Bank | MobilePay receivable | 1,835.98 |
In: 488.00 + 245.00 + 1,120.00 = 1,853.00. Out: 17.02 + 1,835.98 = 1,853.00. The clearing account stands at zero, and the three invoices are paid.
VAT on MobilePay fees
Fees for receiving payments are a financial service, usually without VAT. Book them on a fee account without a VAT code, apart from the sales. You then see what MobilePay costs, and revenue is the sales, not the sales less fees. If you are unsure about your agreement, ask your accountant.
Common mistakes
- The net amount booked as revenue. Book the transfer after fees as sales, and revenue and output VAT come out too low, and the fees vanish from the accounts.
- Sales counted twice. A webshop order that is already invoiced must not also be booked as sales when MobilePay transfers the money.
- The wrong date. A sale on 31 March transferred on 2 April belongs to the first quarter's VAT.
- Payments without an invoice number. A payment not settled against an invoice makes the customer card show a debt that has been paid.
Questions about MobilePay in e-conomic
Does each MobilePay payment need its own voucher?
No. One transfer can be booked as one voucher with a line per payment, or as one voucher per day. What matters is that each payment can be traced to its order or invoice, and that the dates are right.
What if the fees are invoiced on their own and not deducted in the transfer?
Then the transfer equals the payments less refunds, and the clearing account comes to zero without the fee line. The fee invoice is booked as an ordinary supplier invoice on the fee account.
What about MobilePay in the physical shop?
Sales in the shop are usually recorded in the till as daily totals. If MobilePay is one of the ways to pay there, the MobilePay transfer settles that part of the daily total and is not booked as sales again. The till's daily report and MobilePay's report should give the same amount.
How do I find a payment that does not match?
Compare the report from the business portal with the orders for the same day. The usual cause is a refund made in MobilePay but not in the webshop, or an order cancelled after payment.
Automatically with 2app
2app is an accounting partner of Vipps MobilePay. You give 2app access in the business portal, and each transfer is fetched automatically, with no keys. It goes into a daybook in e-conomic: each payment against the invoice for its order, refunds, fees and the transfer itself. If you do not invoice the orders, the transfer is booked as sales with VAT per day. A transfer that does not add up to the øre is stopped and shown. The webshop orders can become invoices with Shopify to e-conomic or WooCommerce to e-conomic.