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Ecommerce site bank journal

    Objective

    Reconciling payments made on an ecommerce site with transfers made by online payment platforms is a long and tedious process. Accounting firms are often unaware of how an e-commerce site works, and of the wealth of APIs available. IT specialists are often unaware of the basics of accounting and overlook this aspect when deploying an ecommerce site. Our ETL solution performs this task and provides a ready-to-use bank journal that can be imported as is into your accounting software.

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    Related issues

    Payment platforms typically group multiple transactions into a single bank transfer, making it difficult to identify individual payments.

    Variable processing times between order confirmation and the actual bank transfer complicate time-based reconciliation.

    Transaction fees deducted by the payment platform create discrepancies between the amounts displayed on the website and the actual amounts transferred.

    Cancellations, refunds, and chargebacks may be processed through separate transfers or deducted from future ones, further complicating tracking.

    Currency differences and exchange rate fluctuations between the time of transaction and the time of transfer result in varying amounts.

    The lack of standardized transaction references between systems makes reconciliation automation difficult.

    Finally, the absence of robust APIs to access detailed bank transfer information often requires time-consuming manual checks — particularly problematic when dealing with high transaction volumes.

    Case studies

    An IT services company sells fixed-price services through its website. Some of these services are recurring and offered as subscriptions.

    A portion of the payments are made via bank transfers to the company’s Qonto account. Smaller payments are processed through Stripe as card payments. Subscriptions are automatically charged via Stripe using SEPA direct debits or recurring card payments.

    The website generates approximately 500 invoices per year for a base of around 300 active clients. These clients consist exclusively of small businesses or non-profit organizations, mainly based in France, Belgium, Luxembourg, and Switzerland.

    A web interface has been made available to the company’s accounting firm, allowing it to independently download the client’s bank journal.

    The format of the bank journal was custom-defined in collaboration with the IT provider’s accounting firm, with the goal of making the downloaded file directly usable in the firm’s accounting software.

    This way, the accounting firm can retrieve an up-to-date bank journal whenever needed, ready to be imported as-is into its accounting system.

    Data is available on demand — saving valuable time.

    No additional handling is required for processing payments from the website — resulting in time savings and improved reliability.

    The integration gateway was developed in alignment with the IT company’s chart of accounts.

    Payment information is retrieved from the WooCommerce website, the Stripe API, and the Qonto API.

    Invoice-to-payment reconciliation is therefore fully automated, delivering significant time savings.

    An automatic mapping is applied using the correct accounting codes: Stripe suspense account code, bank account code, Stripe fees account code, and so on.

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