How to Match a Special Bank Transaction in Gekko?

TABLE OF CONTENTS

• 1. Private Withdrawals & Deposits
• 2. Taxes
• 3. Grouped Payments
• 4. Credit Invoices (Refunds)
• 5. Partial Payments
• 6. Amounts Do Not Match
• 7. Payroll Taxes

When you see a new transaction, you can link it to income (invoices) or costs (receipts). Once linked, the transaction is assigned in your administration and will be included in, for example, your VAT return.

Sometimes, you might have special transactions that are not immediately clear. Below, we cover the most common situations and how to handle them in Gekko.

For all other debits or credits that you don’t want to include in your Gekko administration, choose "Mark as Other". This applies to:

• Payments for invoices not in Gekko (e.g., because you’re a new user)
• Transfers between accounts
• Credit card transactions that contain multiple costs
• Refunds from the bank due to insufficient funds, later paid manually

1. Private Withdrawals & Deposits

If you pay yourself from your business account, then this is usually not a business cost. In this case, mark it as "Private". The transaction will be ignored in your business records.

2. Taxes

If you pay VAT or income tax, this is a business cost but not a deductible cost. Your VAT payment results from your administration, not the other way around.

For VAT payments, choose "Taxes", and Gekko will process them correctly.

3. Grouped Payments

If multiple invoices or costs are paid together, it can be hard to match the transaction exactly. In this case, you can ignore the transaction in your administration by marking it as "Other". It will still be recognized as a business transaction but will not be assigned to a specific invoice or receipt.

If you have multiple invoices that were paid with a single transaction, then you still need to manually add a payment to your invoices to change the status to 'Paid'.

4. Credit Invoices (Refunds)

If a supplier refunds money, Gekko will mistakenly treat it as income. The same applies if you refund money to a supplier, which Gekko will see as a cost.

Example: You returned a computer and got a €3.500 refund. Gekko will try to match it to an invoice, but you need to manually link it to your costs.

If the cost already exists in Gekko, link the refund to it. If not, create a new negative cost:

• €3.500 for the original purchase
• €-3.500 for the refund

The total then equals €0.

5. Partial Payments

If a customer pays in installments, the total amount may not match the invoice. In this case, you can match multiple transactions to the same invoice. Once fully paid, the invoice status will update automatically to 'Paid'.

6. Amounts Do Not Match

If the receipt amount differs from the bank transaction (e.g., due to tips), Gekko will show a warning and let you adjust the amount. However, be aware of what is tax-deductible. In this example, the tip is deductible from income tax.

7. Payroll Taxes

If you have a BV (private limited company), it’s common for the Director-Major Shareholder (DGA) to receive a salary, which requires payroll tax payments by the company. These costs should not be listed under "Taxes" because they are related to the DGA’s personal taxes, not the company’s.

Instead, you can mark them as 'Payroll Taxes' and enter them as a cost (without VAT). You can create a separate cost type on the cost type page of Gekko.

Note: This only applies to BVs or sole proprietorships (ZZP/VOF) with employees.

For payments to private individuals, refer to section 'Private Withdrawals & Deposits' above.