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Multiple merchant accounts

Hi, I am new to quickfile and finding it a little difficult at the moment. I am a taxi driver and have a share in a taxi company which all the bookings come through. So payments to me come in different ways.
Cash payments on the day, card payments through my own card provider, within 3 days, card payments through the taxi company (paid at the end of the week) and account work through the taxi company paid the following months-. How to I split the takings so it matches my bank account ?
So a days takings could be made up as follows
Daily taking £200
Cash £75, card payments to me £25.00, card payments through company £40 and account work £60
Do I have to create invoices for each of the above
Many thanks

There’s a few ways you could do it, all depends on a few other related factors.

If you use the automated bank feed method then all these different payments will appear on the bank feeds so you could just tag them all from the bank which would create a purchase invoice for each payment.

Or you could use the daily takings method and simply have a bulk payment each day/week.

It all depends really on how much detail you want in the accounts, e.g. do you want an invoice for every customer or are you happy to just lump all cash payments together etc.

There’s more info on these methods and more in the Knowledge Base

Hi @curtains,

The daily takings method that Lurch mentions above may be useful for you. There is a guide on this here: Cash Register Tool

Hope this helps :slight_smile:

Hi, how safe is using the bank feed, as I have never used online accounting before and wonder how secure it is.

Thanks

Hi,

Still confused by it all, just wondering if its easier to just enter the sales and purchases and not involve trying to reconcile the bank balance, is that possible.

Open Banking means Quickfile can only view your bank account, not initiate any payments etc from it. It is a direct link to your bank, authorised by you and your bank. It is a system mostly administered and managed by the banks themselves, so it is as secure as your online banking as that is what you use to authenticate Quickfile against it.

What are you actually wanting to do? There are several ways of doing this (as per my previous post), which tbh is all confusing if you’ve not done any of it before.

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