When deciding on an office card reader - SumUp is Pebble's preferred office card reader provider. SumUp gives you the flexibility to use a single card reader in the office or multiple card readers across your site. Once a transaction is processed on a card reader you enter the income into Tali and then reconcile it to your bank account.
Sounds simple - well, yes it is!
Here at Pebble, we will need to set up on Tali a new 'SumUp Settlement Bank Account' which will be an additional virtual bank account if you already have one for online card payments. Please use the button on your dashboard 'Get Help' or 'Advisor Help' to book a setup and training session with us so we can support you with any questions going forward, just choose the option for the 'Card Reader'.
SumUp settles to a chosen bank account depending on how you set up your SumUp account, these settlements of card payments processed on your office card reader/s are settled to your bank Net - SumUp subtracts the transaction fees before they credit your bank account, daily, weekly or monthly, you choose!
SumUp is simple to use whether you want monthly reconciliations (easiest method) weekly reconciliation to your bank account (a little more admin in Tali) or daily reconciliations to your bank account which means you need to reconcile each card transaction processed on your card reader.
What do I need to do online in the SumUp portal?
In Settings>Payout settings - choose how and when you would like to receive settlements from SumUp, we would suggest 'Direct to bank account' and 'Monthly Payouts' if you reconcile your bank once a month, you can choose Weekly Payouts or Daily Payouts if you wish, but these will need more frequent reconciliation in Tali;
NB. You have the option of choosing to settle to a bank card, funds are credited to this bank card and then used as a type of cash card for payments to businesses. Please chat with us if you are thinking of using this option instead of credits going to a bank account. Please use the button on your dashboard 'Get Help' or 'Advisor Help' to book a setup and training session with us so we can support you with this and any questions going forward, just choose the option for the 'Card Reader'.
In Billing descriptor - this is how the card reader settlements will appear on your bank statements;
What do I need to do in Tali?
The principle of entering these types of transactions in Tali can be broken down into the following stages - please do read the full guidance;
Generate an income transaction in Tali as an ePayment against your new SumUp Settlement Bank Account.
Reconcile these ePayments to Tali and then to your bank account statement.
Record any fees.
Step 1 - Generate an Income transaction in Tali as an ePayment against the SumUp Settlement Bank Account
Enter individual transaction amounts to your chosen Account in Tali, remember to use the same SumUp Transaction number if a payer pays for several payment items in one SumUp transaction, record this number in the Reference field on the Tali 'Enter Income' transaction page;
>Save at the bottom and repeat as necessary for all your SumUp transactions.
Step 2 - Reconcile these ePayments to Tali and then your Bank Account Statement
Once you receive your bank statement with payments from your card company you will need to reconcile this income against your bank account;
To do this you need to do an action> 'Transfer between Bank Accounts;
>Select Bank & Cash > Transfer between Bank Accounts.
>Select the SumUp Settlement Account to Transfer From.
>Select the Bank Account to Transfer To - where Sumup have settled to.
>Enter the Amount to transfer - taken from your bank statement.
>Enter the Date of the transfer to match the date on your bank statement.
You will then see this transferred amount on your bank account reconciliation screen, ready to reconcile in the normal way. This reduces the SumUp Settlement Bank Account balance on your Tali Dashboard down by this transferred amount. The difference between the gross amount of the original transactions for the settlement period and what is left in the settlement bank account are any fees owed, you can process these to balance your settlement bank account as outlined below in Step 3.
You can also reconcile your transactions to your SumUp Settlement Bank Account if you wish;
Step 3 - Record any fees
'Record Expenditure' transaction for any fees that you are charged by the card reader company. Depending on how they charge you, depends on how you record these charges.
What do I need to do in the SumUp portal?
Here is where you find your 'Fees invoice' in SumUp;
What do I need to do in Tali?
The fees are the difference between what the card reader company pays to your bank account (net) and what is left in the SumUp Settlement Bank Account, this is why you will need to Record Expenditure against the SumUp Settlement Bank Account;