Set up PSPs with Continia Banking

"With keeping our Cash Receipt Journal up to date, I dread the days when our PSP payouts land. One number hits the bank, but behind it are hundreds of customer payments, fees, refunds, and corrections that all need to be unpacked, posted, and matched to the right invoices. Doing that is error-prone and means I'm always a few days behind on reconciliation. I want to be confident that when a PayPal or Klarna payout arrives, the file tells the system what to do, not me, line by line."

Ester, Accounts payable, Cronus.

Continia Banking allows you to directly import a PSP payment file into the Cash Receipt Journal, streamlining reconciliation and reducing manual data entry. You can automate the matching of payments to ledger entries, gain visibility into PSP fees and payment streams, save time and reduce errors in financial processes.

Before you start

• Decide which bank or G/L account will be the balancing account for the payout.
• Make sure G/L accounts exist for the fees, commissions, shipping, and corrections the PSP charges.
• Confirm you have the CTS CB ADMIN, CTS PSP ADMIN, or CSC ADMIN permission set.

Take a tour of the solution

You're working as a company admin at the demonstration company, Cronus. You wish to add a new PSP agreement for PayPal and set up the rules that are needed for a smooth import.

Before you can import files, you need to set up a PSP agreement in Continia:

1. Search for and select PSP Agreement Setup.
2. On the setup page, click Next.
3. On the PSP Agreement Setup page, add a new line, then click Next to continue.
4. Enter a name for the PSP agreement along with the Balance Account no. and Balance Account Type and click Next.
5. Select the External Reference Type rule, that will match imported transactions. This is set as a default and can be changed by clicking on the cell.
6. Set up the PSP Reconciliation fields as explained in the table below;

7. Select an Account type and Account number for existing rules on the imported data with the option to disable any of the line items for this PSP agreement.
8. Click Finish or Next to add new PSP.

External Payment Reference Rules

As part of setting up a PSP agreement, Continia Banking uses the External Payment Reference to match the imported PSP payments to open ledger entries. When this value on the customer entry matches the reference in the imported file, the payment reconciles automatically. You define which field to read, and how to format it in an External Reference Rule Template.

To set up an External Reference Rule Tempalte:

1. Search for and open PSP External Reference Rules (or use the PSP Agreement Setup assisted setup).
2. Select New to add a template.
3. Enter a Template Code and Template Description.
4. On the far right, click the three dots to open Field Selection, choose the fields to include (for example, External Reference Number), and select OK.
5. In Field Selection Text, click the three dots to open Template Field Properties and refine the format. For example, set Length to 10 and Place After to 0 so the reference is always ten digits.

After saved, the template's rules drive automatic matching for every payment imported under that PSP agreement.

Add a Custom PSP

Continia Banking's large set of predefined PSP agreements like Klarna, bol.com, and PayPal connect directly to Business Central, and let you import with ease straight into the cash receipt journal. However, there may be some instances where you will need to set up a custom PSP.

Supported payment service providers in Continia Banking