Addressing Differences in bunq account and Spend Cloud Bankbook

We have noticed discrepancies in some cases between the balance of the bunq account and the balance in the corresponding bankbook in the Spend Cloud environment. This article explains how these differences may arise, how to resolve them, and our efforts to prevent future discrepancies.

Due to the very stable connection with the payment platform Adyen, such differences with Spend Cloud Cards are very rare. Read more about the alternative to bunq cards.

How do differences occur?

One possible cause of differences between the bunq account and the bunq bankbook in Spend Cloud is that transactions on the bunq account are adjusted at a later time. This can happen due to currency corrections or refunds on a card payment. These adjustments may not always reach us through a push action; instead, we actively retrieve them from bunq.

What do we do when differences occur?

After the period has elapsed (for monthly closing, on the first of the following month, and for weekly closing, Sunday night to Monday at 00:01), we conduct a check of the bank account balance in Spend Cloud against the balance known to bunq. If a discrepancy is identified, we perform a second check. In this second check, Spend Cloud compares all transactions within the period with the transactions for that period at bunq. We make corrections where necessary, ensuring that the transactions in your Spend Cloud match those at bunq, accounting for bunq corrections or any missed transactions. The balance should align at that point.

Automatically Generated Difference Entry

It's possible that a transaction (e.g., due to a exchange rate difference) is corrected only after the end of a period. After the first check and corrections, if a difference is still found, Spend Cloud will generate a difference entry to correct the balance. There will be a clear notification above the period to be closed that a correction entry has been created. We recommend booking this entry to an intermediate account.

This process ensures that the balances between the bunq account, the bunq bankbook in Spend Cloud, and the bankbook in the accounting package align each month.

Preventing Differences in the Future

We will monitor discrepancies identified during the bankbook closing to investigate their causes and address them. You may notice a contra correction entry in a future period as the cause of the earlier difference is resolved, and the transactions are either correctly recorded or corrected in the past period.

Also, check out the theme webinar (Dutch spoken) "Cash & Card with bunq for Advanced Users" for tips on how to verify your bunq account data and the booking process.

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