Benji Payments by Adyen Gateway Account Setup Guide - QuickBooks Desktop

Modified on Mon, 27 Oct at 2:45 PM

This guide outlines the required accounts for configuring a Benji Payments by Adyen gateway in Benji Pays for .

For details on other payment gateways, please refer to their respective articles.

When setting up a Benji Payments by Adyen gateway, merchants must configure specific accounts for each currency they process. These accounts work together to accurately track payment processing, fees, and bank settlements, ensuring proper financial reconciliation within your accounting system.

TABLE OF CONTENTS

Setting Up Accounts in QuickBooks Desktop
Required Accounts by Accounting System
Account Configuration Summary Table
Common Configuration Mistakes
Why These Account Types?
Need Help?

Setting Up Accounts in QuickBooks Desktop

Before configuring your Benji Payments by Adyen gateway in Benji Pays, you’ll need to ensure the required accounts exist in QuickBooks Desktop (QBD). Follow these steps to create or confirm the accounts listed in this guide.

Launch QuickBooks Desktop and open your company file.
From the top menu bar, click Lists → Chart of Accounts.
The Chart of Accounts window will display all existing accounts.

4. To add new account at the bottom of screen click on Account >> New

Required Accounts by Accounting System

For each currency processed through Benji Payments by Adyen, you must configure the following accounts.

Account Configuration Summary Table

Account Purpose	QBO Type	Required?
Deposit Account	Bank	✅ Yes
Settlement Deposit	Bank	✅ Yes
Processing Fees Expense	Expense	✅ Yes
Accounts Receivable	Accounts Receivable	✅ Yes

⚠️ Important:

If you accept both credit card and bank payments (ACH, direct debit, etc.), you’ll need to set up a separate set of accounts for each payment method in every currency you process.

1. Deposit Account ✅ Required per currency configured

Account Type: Bank (Required for QBD)
Purpose: Tracks funds held in the platform balance account
Why this type:
- QuickBooks Desktop requires Bank type accounts for payment clearing
- All payments, fees, charge backs and transfers in and out of your merchant account will show up in these accounts
Exclusions:
- ❌ Cannot be "Undeposited Funds"
- ❌ Cannot be "Accounts Receivable"
- ✅ Must be Bank type
- ✅ Must match the currency being processed

Suggested Name: "Benji Pays Clearing - USD"

Example: "Benji Pays Clearing - USD" of type (Bank)

2. Settlement Deposit Account ✅ Required per currency configured

This account is likely already setup in your accounting system. If so you can select it.

Account Type: Bank
Purpose: Your actual bank account where we will deposit your funds
Why this type:
- This is your real bank account
- Must be "Bank" type to enable proper bank reconciliation
Must match: The same currency as the Deposit Account above

Suggested Name: Use your actual bank account (e.g., "US Bank - Business Checking" or "Chase Business Account")

Example: "US Bank - Business Checking (Bank)"

3. Processing Fees Expense Account ✅ Required (Gateway Settings tab)

Account Type: Expense or Other Expense
Purpose: Tracks all processing fees
Why this type:
- These are business expenses for payment processing services
- Helps track the cost of accepting payments
Note: This is configured once at the gateway level and applies to all currencies

Suggested Name: "BP Processing Fees"

Example: "Benji Pays Processing Fees" of type (Expense)

4. Accounts Receivable Account ✅ Required

This account is likely already setup in your accounting system. If so you can select. If it doesn't please create an invoice in the respective currency, you can delete the invoice after. This will force QuickBooks to create the A/R account for you.

Account Type: Accounts Receivable
Purpose: Links customer payments and balances in QuickBooks
Why this type:
- QuickBooks Desktop requires AR accounts to properly track customer invoices and payments
- Connects payment processing to your customer records
- Enables accurate accounts receivable reporting

Suggested Name: "Accounts Receivable (A/R)" or use your existing A/R account

Example: "Accounts Receivable (A/R)"

Common Configuration Mistakes

❌ Mismatched Currencies

Problem: The Deposit Account and Settlement Account must be in the same currency.

Solution: Ensure both accounts are configured for the same currency (USD, CAD, EUR, etc.)

❌ Using Bank Type for Deposit in Xero

Problem: Xero's restrictions prevent using BANK type accounts as clearing accounts for Adyen.

Solution: Use CURRENT ASSET type with Enable payments to this account enabled

❌ Missing Processing Fees Account

Problem: Without a Processing Fees Expense account, the system cannot record processing fees

Solution: Configure a dedicated expense account at the gateway level (one account will cover all enabled currencies)

❌ Missing Bank Payment Accounts

Problem: Forgetting to configure separate accounts for bank payment methods (ACH, direct debit) when processing both credit card and bank payments.

Solution: If you process both payment types, ensure you configure deposit and settlement accounts for each method in each currency.

Why These Account Types?

Deposit Account (Current Asset)

The Benji Pays clearing account is not your bank account - it's our platform holding account. Money flows like this:

Customer pays → Funds enter platform balance (Deposit Account: "Benji Pays Clearing - USD")
Fees are deducted → Reduces the clearing account
Funds are settled (sent) to your bank → Funds move to your bank (Settlement Deposit Account: "US Bank - Business Checking")

Using "Current Asset" reflects that these are funds you own but don't directly control.

Settlement Account (Bank)

This is your actual bank account. It must be "Bank" type to:

Enable bank reconciliation
Match with bank feeds
Properly track cash position

Processing Fees (Expense)

Processing fees are a cost of doing business. Recording them as expenses:

Accurately reflects your profit margins
Provides visibility into payment processing costs
Enables cost analysis and optimization

Need Help?

If you're unsure about account types or configuration:

Contact Benji Pays support for guidance on account mapping
Consult with your accountant or bookkeeper
Review your chart of accounts structure

Note: Account type requirements are based on both Benji Pays' integration requirements and accounting best practices. Following these guidelines ensures accurate financial reporting and seamless integration.