Billing

Billing

When it comes to billing and accounting, your statement of ThePay account should be used in the same way as your bank statement: it details and summarises all payments from your customers and all fees.

Statements of account are available for download (export) from the payment gateway, in a number of various formats. To view an example of a statement of account in any of the formats available, simply click on the format you are interested in (PDF, XLSX, CSV, GPC). Once exported in the selected format, the statement of account can then be uploaded into your billing and accounting software (you should create a fictive (bank) account for it in your billing and accounting software).

Payment fees are accounted for similarly to bank fees. In accordance with Czech VAT Act No. 235/2004 Sb., Section 51, the fees are exempt from VAT.

If you have used the previous version of the payment gateway (ThePay 1.0), the billing and accounting will be slightly different, but undeniably simpler.

POHODA billing and accounting software

Export the statement of account into the format you require, upload it to the POHODA billing and accounting software and link it to the relevant fictive account. Control mechanisms require that the account in Pohoda be created according to certain rules. These rules and detailed instructions can be found here.

Billing example

Below is a simple example. The accounts used are as follows:

221001 – Merchant's bank account
221002 – Merchant's payment gateway account
311000 – Accounts receivable
261000 – Inter account transfers
568000 – Bank fees
602000 – Sales of services on credit

During the month, you receive orders which are then invoiced to your customers.

All payments made by your customers are credited to your payment gateway account. Every month, we send you a statement of account which includes the following details:

We pay you out the balance into your bank account. This transaction is recorded as an internal transfer between your gateway payment account and your bank account.

Additional information

Electronic money can be considered a very liquid asset that can be converted into cash at any time. Due to its high liquidity and almost instantaneous conversion into non-cash funds, electronic money can be reported in the financial statements under section C.IV Cash in accordance with the accounting rules and the principle of true and fair presentation of facts. Another supporting argument for reporting electronic money as cash is regulation 513/15.11.17 of the Coordination Committee addressing the timing of income recognition for accrual basis taxpayers: from a liquidity perspective, electronic money can be converted into real cash at any time, and taxpayers accrue income when the electronic money is credited into the payment gateway account rather than when the sum is transferred into their current bank account.