Payments

Bookkeeping

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Note: This article is based on an article about bookkeeping according to Danish legislation. Keep reading if you want to learn more about how to export your payments in OnlineFundraising in order to prepare for bookkeeping.

Before you start, keep the following questions in mind:

  • Which system do you use for bookkeeping?
  • Do you have a CRM-system and is it integrated with OnlineFundraising?
  • What is your approach to bookkeeping?
  • Are payments tax-deductible?

Depending on which country you are in, there may be different requirements to bookkeeping and accounting. Please refer to your local rules before settling on an approach, whether it is single- or double-entry, invoice or cash method, etc.

Get started with bookkeeping

Webinar about bookkeeping

See our webinar about bookkeeping (in Danish) where Stephan shows how to get started with bookkeeping based on an exported file from OnlineFundraising. We explain how to balance your payments regardless of payment method - before and after the transfer to your account is complete.

Balance every payment

Follow the steps below to learn how to prepare for bookkeeping payments in OnlineFundraising.

1. Export payments

Follow this guide to export an Accounting optimised report which consists of payments with data relevant for bookkeeping. It is possible to filter the charged date (Charged timestamp), and as such only export the payments for a specific time period. Often it is also relevant to look at the refunded date for refunded payments (Refunded timestamp). 

To get a better overview of when payments were charged, follow these steps:

1. Column B: Filter on payments in state Charged and/or Refunded.

2. Column J: Select the time interval for charged date to narrow the list of payments down to those you wish to balance (In case you did not filter on charged date during the export).

2. Bookkeeping Appendix

We recommend creating a new file and making an appendix for your bookkeeping. In Excel, create a new tab and copy the payments and relevant columns to the appendix. Columns of interest:

  • Purpose Accounting Code
    This code is defined by the organisation and eases identifying the purpose of each payment (and agreement) for accounting. Corresponds to column AL (and BG).

  • Payment Method Accounting Code 
    This code is defined by OnlineFundraising and informs about the payment method. The payment method is relevant because different payment methods have different procedure for deposit and transaction fees. Corresponds to column AL.

Once you have created your appendix you can export the it as a PDF. See the attached Excel-sheet for an example: OF export - eksempel.xlsx.

3. Collect additional data

If you wish to compare your data to the sum which is payed out for each payment gateway you need to contact the payment gateway vendor in question.