FAQ
Last updated
Last updated
© Payrexx. All rigths reserved.
No, you do not need a website to use Payrexx. With Payrexx Pages you can create your own payment page. You can choose your unique URL during the registration process. This URL will be visible once your customer is going to visit your Payrexx Pages.
Here is an example:
Premium users can use their own domain if they like.
There are numerous accounting challenges to be overcome in the processing of credit card transactions. We summarize the most important ones below.
Payments from the credit card acquirer to the bank account only arrive a few days later after the service has been provided.
Sales are usually transferred as a collective payment (Collective payments = less work when posting).
The commission per transaction is not necessarily linear (depending on the card and acquirer)
The gross turnover is relevant for accounting purposes and VAT is posted and calculated on it.
Payments are not received on the bank account for the amount of the turnover. Payments are usually transferred by the acquirer net (less credit card commission).
Credit cardholders have the option of cancelling payments. Chargebacks will be deducted from further transfers or debited directly from the bank account.
Posting of Credit Card Receivables
The table should include the following information from individual transactions:
The posting of sales in the accounting system is a collective posting. To do this, you create a posting document that summarizes the cash journal or shop journal over a period (one day, one week, one month, one quarter) and includes all the are added to the values listed.
The transaction with the customer is completed when the customer has paid for the service by credit card. You then have a receivable from the credit card acquirer in the amount of the turnover. Later, when you received the payment in your bank account, the receivable is repaid minus the commission.
You should assign a posting number to the posting document and store it together with the table. In this way, you fulfil the requirement for the "audit trail": A tax auditor can use the posting document to draw conclusions about the individual transactions on the cash strip and reconstruct the accounting. There is also a ten-year archiving requirement for journals and collective posting documents.
The credit card transaction is usually deducted directly from the transfer of your claim - you only receive the net amount transferred to your bank account. The credit card acquirers periodically compile the turnover and commissions in a statement. Today, you can usually access this statement via the Internet in e-banking or receive it by e-mail.
The following transaction types occur on the account "Receivable from Acquirer X":
Posting of the receivable as an offsetting entry to sales.
Write-off of the receivable when the payment is received on the bank account.
Credit card commission as a reduction in income.
In terms of a single transaction, the receivables account would have to be zero after the 3 transactions were completed:
Since new receivables from the credit card acquirer arise daily with each transaction and these arrive in the bank account with a time delay, the account "Receivable from acquirer X" usually shows a balance.
The balance shows all the credit card acquirer's debts outstanding at the balance sheet date before the Commission enters them in the accounts.
Tip: Let the acquirer transfer your money as little as possible:
Less booking effort
Lower credit card commissions of your acquirer
Add up all incoming payments from the period up to the key date and calculate the due commission. The total of the commission and these incoming payments should correspond to the account balance. Sometimes there are small differences due to different value dates on your system and the acquirer's system.
Go to our website.
2. Click Login in the upper right corner.
3. Use the following information to log in:
The e-mail you used to register
The password that we sent you by email after registration
We recommend creating a shortcut for your Payrexx account.
Note: If you cannot find our email, please check the spam folder. Otherwise, please contact us.
Please check your spam folder if you did not receive a welcoming e-mail. If you still do not find a message from us, please write us a ticket using the e-mail address utilized for the registration.
You can find all bills from Payrexx in your account under "Settings > Subscription". You will also receive the invoices to the deposited E-Mail address.
Depending on your subscription, Payrexx charges you for the following services:
Payrexx subscription (tools, support, payment functions etc.)
Transactions with third-party providers
Please visit our Pricing Page to get a clear overview of the services we charge you for.
Are the different Webshops run by the same company and person?
Is it ok if the payouts from the different shops are sent to one single bank account?
If you can answer yes to both of these questions, you only need one single PRO Account
Otherwise, you need to have a Payrexx Account for each of the webshops you are running. In this case, we can provide you with a special offer and give you a combined discount for the accounts. Please contact us!
The subscription fee (different plans) covers the use of our software and our services.
The main part of the transaction fees is charged by our third part partners and not by us. The transaction fees cover the actual processing of the data when a payment is being made, as well as the processing of the money flow. Anyway, it is important for us to act as the most competitive Payment Service Provider in Switzerland. We have set the pricing for both the SaaS subscription and the Transaction Fees at an attractive level. Please have a look at this article, it shows our pricing benchmarked to our competitors. https://www.openstream.ch/blog/psd-vergleich-schweiz/
Example 1 - For UK Based Merchants
1) Annual Payrexx Fee
Depending on the Plan you choose (Checkout, Starter, Plus, Pro)
2) Connector Transaction Fee
Determined by the respective connector. As an example, when using Stripe as a connector you can see the pricing of the Stripe fees here: https://stripe.com/en-gb/pricing
3) Payrexx Transaction Fee
On top of the connector transaction fee, we do charge an additional Payrexx transaction fee. Anyway, this fee is depending on what subscription plan you choose. See "Fees for using external payment providers (Connectors)" on our Pricing Page. If you choose the "Pro" subscription plan, there are no extra Payrexx transaction fees.
Click on the signup button on our website and create your Payrexx account. For the first 30 days, you can use a free trial edition. Afterwards, the account automatically changes to a free account in which you can adjust settings, but the possibility to accept transactions is paused until you upgrade to one of the four billable subscriptions.
Payrexx offers various subscription packages. We tried to structure the packages so that everyone can choose a suitable one. If you are not sure which package to choose, feel free to contact us and we will advise you on the subscription that would be suitable for you.
Proceed to our pricing page to see the different packages.
With Payrexx you can create your own donation page in just a few minutes. Read more in this article.
Date
Customer
Amount
VAT amount
VAT rate
Payment amount
Payment method
Posting of the receivable
CHF 1’000.00
Less bank transfer
CHF - 980.00
Less credit card commission
CHF - 20.00
Total
CHF 0.00
