If you or your accountant are in doubt about how you should manage receipts for adding funds to your Shipmondo account or your monthly invoices, then this is the guide you need to go through.
There are two types of documents you'll receive and will need to post when you use balance payments:
- Payment receipts
- Monthly invoices
Whenever you add funds to your Shipmondo account, a payment receipt will be created and you can at all times download it from Billing > Add Funds.
An example of a payment receipt:
A payment receipt is not an invoice and does not contain VAT specification. When you add funds, you're technically only moving money/funds from your bank account to your Shipmondo account/balance.
A purchase takes place when you use this balance to pay for the purchase of services/freight at Shipmondo.
Financial processing of payment receipts
You should start by creating a financial account that represents your Shipmondo balance in receivables, in the same way you have a bank account in the chart of accounts in your bookkeeping system, under cash and other assets.
When you top up your Shipmondo account with e.g. DKK 1.000, you need to make a credit entry on your bank account and a debit entry on your Shipmondo balance account with the same amount.
This way, you can document the money/funds transfer between the accounts and your refill receipt is the document for your accounting.
Your consumption is tracked and a statement is issued on a monthly basis. This is your monthly invoice (and specification) that contain shipment IDs, freight products, VAT specification etc.
You can at all times download both your monthly invoice and the specification from Billing > Invoices.
An example of a monthly invoice / specification is shown below (the date would be the last date of the month):
Financial processing of monthly invoices
The monthly invoice you receive from us is your consumption statement.
When you receive it, you need to make a debit entry on your freight purchase account and a credit entry on your Shipmondo balance account with the amount from your invoice. This way you document that it was your Shipmondo balance account that was used for your purchases and not your bank account.
The amount that's still on your Shipmondo balance account is what you can continue using for your future payments.
Use the monthly invoice as the document for your accounting.