For e-commerce and online businesses in Dubai, every sale flows through a payment gateway (Stripe, Telr, Amazon Payment Services), which deducts fees, handles chargebacks, and remits a single Net Payout. Manually tracking these high-volume transactions, fees, and multi-currency conversions against bank deposits is error-prone and a major source of financial leakage and VAT non-compliance. FrankDigit Accounting Services specializes in deploying automated reconciliation solutions that eliminate this risk.
We install the crucial link between your gateway and your Xero/QuickBooks General Ledger. Our commitment to Confidentiality, Transparency, and Integrity (CTI) guarantees that your revenue is accurately verified, fees are correctly accounted for, and your bank reconciliation is seamless, providing the financial clarity needed to scale your digital operations securely.
Payment Gateway Reconciliation is the process of matching individual sales orders recorded in your online platform to the detailed transaction reports from the payment processor, ultimately aligning the final, aggregated deposit amount in your bank account. This is essential for:
- Revenue Verification: Ensuring every dollar/dirham earned is correctly recorded, particularly crucial for VAT reporting on gross sales.
- Fee Tracking: Accurately separating gateway fees, commissions, and refunds from revenue to calculate true Net Profit for Corporate Tax (CT) purposes.
- Audit Trail: Creating a clear, digital, and verifiable link from the customer transaction to the final bank deposit, satisfying both bank compliance and FTA auditors.
We offer end-to-end management of the payment process to deliver a true picture of your online profitability.
| Delieverable | How FrankDigit Delivers |
|---|---|
|
Multi-Gateway Integration |
Connecting local (PayTabs, Network International) and global (Stripe, PayPal) gateways with your accounting system via specialized connectors. |
|
Gross-to-Net Breakdown |
Automated creation of a single daily/weekly summary entry that correctly posts Gross Revenue, Fees, and Refunds to designated GL accounts. |
|
Bank Deposit Matching |
Ensuring the automated summary entry perfectly matches the lump-sum deposit visible in your bank feed, achieving one-click reconciliation in Xero/QuickBooks. |
|
Multi-Currency Accounting |
Accurately recording sales made in foreign currency and tracking the realized Foreign Exchange (FX) Gain/Loss upon conversion and settlement in AED. |
|
Chargeback & Refund Control |
Meticulous tracking and categorization of refunds and chargeback deductions, ensuring they are properly adjusted against gross sales for tax and profit calculation. |
Manual reconciliation is costly; automation eliminates the most common financial leaks and tax risks.
A major benefit of automated reconciliation is the granular tracking of transaction costs. We ensure that non-deductible fees, volume discounts, and service charges imposed by the gateway are clearly identified and allocated to the correct expense account. Accurate fee allocation is crucial for calculating genuine Corporate Tax profit and supporting any claim for deductible business expenses.
The FTA requires VAT-registered businesses to maintain a clear audit trail for all sales. Manually entering a lump-sum deposit without breaking down the fees and gross sales is a severe compliance risk. Our system ensures every gross sale (including the VAT component) is recorded and that the final net deposit is verifiable against the invoice data, creating an audit-proof pathway that is critical for any tax audit or bank due diligence request.
We provide the technical expertise to install and manage a continuous, accurate payment-to-ledger workflow.
- Decode (Gateway Assessment): We review your current online sales channels, analyze the structure of your gateway settlement reports, and define the specific fees and currency conversions that require automated tracking.
- Simplify (Integration Setup): We implement the appropriate connector software, configure the Chart of Accounts in your accounting system to capture the gross-to-net data, and set up automated deposit matching rules.
- Automate (Continuous Verification): We run post-implementation tests, manage ongoing reconciliation cycles, and provide customized reports to track transaction success rates and monitor fee changes across your entire gateway stack.
Is slow reconciliation hindering your cash flow? Get automated payment integration that guarantees financial accuracy.
📞 Contact FrankDigit Accounting Services today to secure your Payment Gateway Integration.