Booking Process for Live Cards
When working with Spend Cloud Cards or bunq cards, a specific booking process is followed. In the financial package, the following components are required:
- Bank Book: This includes a counter account per business account.
- Journal Entry Book (Memorial Journal): This is for associated card expenses.
- Intermediate Account for Card Expenses: This links the bank book and the journal entry book.
- Cash Withdrawal Account: This is needed if cash transactions are also processed.
Booking Process for Live Cards
For each business account, there is a standard bank book and one or more associated card books. The card book can also be configured to handle both card expenses and cash transactions. Below, you can see the types of transactions that may occur in different books.
Cashbook Housebank-> Business account Total expenses cashbooks |
+ € 1000,00
- € 330,00 |
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|
|
|
Card book Location A - card expenses
charge balance Supermarket - Groceries Online store - office supplies |
+ € 200,00
- € 25,00
- € 75,00 |
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|
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Card book location B - card expenses and cash expenses
Supermarket - groceries Cash withdrawal
Ice cream - treats | Card
- € 30,00
- € 200,00
| Cash
+ € 200,00
- € 7,00 |
De mutations will be send to the financial package as following:
| Cashbook | Debit | Credit |
| offset bankbook | 1.000 |
|
| Cash post |
| 1.000 |
| Intermediate account card expenses | 330 |
|
| offset bankboek |
| 330 |
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|
|
| Memorial diary from Cardbook Location A | Debit | Credit |
| Groceries | 25 |
|
| Intermediate account expenses |
| 25 |
| Office supplies | 75 |
|
| Intermediate account card expenses |
| 75 |
|
|
|
| Memorial diary from Cardbook Location B | Debit | Credit |
| Groceries | 30
|
|
| Intermediate account expenses |
| 30 |
| Cash withdrawal account | 200 |
|
| Intermediate account expenses |
| 200 |
|
| Treats | 7 |
|
| Cash withdrawal account |
| 7 |
The intermediate account for card expenses must always be reconciled to 0 when all books for the period are exported. When working with the cash withdrawal account, entries from multiple books are directed towards this account. The cash withdrawal account holds the aggregate balance of all cash registers, and you can verify this balance using the balance report in Spend Cloud.
This results in the following closing balances:
| Bankbook | 670 |
| Intermediate account expenses | 0 |
| Cash withdrawal account | 193 |
The intermediate account for card expenses must always be reconciled to 0 when all books for the period are exported. When working with the cash withdrawal account, entries from multiple books are directed towards this account. The cash withdrawal account holds the aggregate balance of all cash registers, and you can verify this balance using the balance report in Spend Cloud.