Reconcile GoCardless accounts

Hi There,

I have setup & used GoCardles for a while now & in general seems to work pretty well for me & my clients like it too.

I have read a couple of posts from other GC & QF users about the bank charges & I generally follow Glenn’s advice of periodically adding the charges as an outgoing cost from my GC merchant account in QF.

But my question here is (& I only really noticed it because my account asked a question),
My GC merchant account, in QF should hover around the 0 mark I guess, but my GC account is showing all the account balance that GC has ever taken, even though this money has been sent directly over to my regular bank account.

How can I tally up my GC account with my regular bank account.
DO I have something setup in QF incorrectly, as I only ever set up GC via QF and left everything in a default setting.

Any help/advice greatly appreciated.

Andy

I would have a chat with your accountant about that. If it’s showing the full balance of all sales then you must have missed the transfers going to your current account (i.e. when GoCardless pay you into your account).

See here for guidance on accounting for GoCardless remittances.

I have never moved amounts from my Virtual GC account in QF over to my current account manually, so guess this is where I have gone wrong.
I assumed that QF/GC handled this automatically somehow.

I’ll make the changes manually myself now.

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