Implementation Examples of Internet Payment Methods

Welcome to the payment methods implementation guide! This guide is designed to help our clients easily integrate payment methods into their applications, including internet payments with Mastercard and Visa… To make this possible, clients will need to use the account shared by their PSP provider (in this case, Ogone).

If you follow these steps, you will have a fully set up and functional payment method.

In this guide, we will cover the following topics:

By following these steps, clients will be able to provide their customers with a seamless payment experience, allowing them to securely and easily pay for goods and services online.

Payment service provider:

A Payment Service Provider (PSP) is a third-party company that provides businesses with the necessary tools and services to accept and process payments made by their customers. One popular PSP is Ogone from Ingenico, which offers a variety of payment methods and services that businesses can use to streamline their payment processes and improve customer experience.

To use a PSP like Ogone, businesses typically need to create an account and obtain login credentials such as a username and password. These credentials are used to access the PSP's services and manage the payment transactions that are processed through their platform. If you are interested in using a PSP for your business, it is important to get in touch with the provider directly to learn more about their services and account setup process.

To configure the connection with a Payment Service Provider (PSP), such as Ingenico's Ogone, we use the credentials provided by the third-party company. These credentials typically include a username and password that are required to establish the connection between the PSP and our system.

If we click on “create payment service provider” we get a new window to configure the PSP:

We will enter all the information shared by the PSP in the different fields. This information typically includes login credentials and other relevant details that are necessary for the payment transaction to be processed successfully.

Once the initial configuration page is closed, the basic PSP connection will be established. However, there may be additional information that needs to be entered to fully configure the PSP and make it available for use. To access these settings, simply select the appropriate PSP and click on the "Settings" button. From there, you can enter any additional information required to complete the setup process and start processing payments.

We can finally add the currency (no account is needed for Ogone).

In summary, configuring a Payment Service Provider (PSP) is an important step in setting up a payment processing system for your business. By following the steps outlined in this documentation, you can easily establish a connection with your preferred PSP and begin processing payments quickly and securely. If you have any further questions or require additional support, please don't hesitate to contact our team for assistance.

Create ledgers:

The ledgers module in our software allows you to configure your ledger accounts directly from the main administration and bookkeeping system. We recommend that you register your ledger numbers in accordance with your existing bookkeeping system to ensure consistency and accuracy. In addition, you can select the appropriate VAT or TAX tariff for each ledger, which will be used to calculate the correct VAT percentage for each transaction. With the ledgers module, you can easily manage your financial accounts and ensure accurate bookkeeping for your business.

For the purposes of this documentation, we will not be focusing on VAT calculations and will instead be using the ledgers module to track payments received through internet payment.

To effectively track payments, it is important to create a ledger. However, before creating the ledger, it is crucial to carefully consider and plan the optimal structure that suits your specific needs. This will ensure that the ledger serves its intended purpose and facilitates the next step in the documentation process, which is the creation of Journals. Therefore, it is recommended that you put some thought into creating a well-structured ledger for your payment tracking needs.

In the Finance Manager you will go to Ledgers to create new ledgers:

When it comes to internet payments, such as those made through Mastercard, it is only necessary to input the name and ledger number. Unlike other types of payments, VAT is not required for these transactions. However, it is possible to include a description if desired.

To summarize, we have created a ledger tailored to the specific payment method needed for efficient tracking and documentation purposes. With this in place, we can now move on to the next step of the process.

Create Journals:

The MXTS Journal module is used to identify journals by their entry type, with each journal being uniquely identified by its type and a user-defined identification number. There are 6 types of journals available, including Cash, Bank, Giro, Purchase, Sale, and Miscellaneous.

Additionally, the MXTS Journal module allows you to link journals to their respective general ledger accounts through the Ledger field. This feature provides the flexibility to link multiple general ledger accounts, if needed.

To create journal entries, the following reports can be run: Financial Transaction Report, Owner Financial Transaction Report, and Revenue Distribution.

For the purpose of our example, we will exclusively use the Miscellaneous journal type.

In Finance Manager you will go to Journal to create new journals:

After clicking on “create journal” you will have a new window:

To create a new journal, we will input the name of the journal (e.g. Mastercard Internet) along with a brief description and a journal number. We will select the journal type as "Miscellaneous" and link the appropriate ledgers that were created in the previous section.

In conclusion, the MXTS Journal module provides a flexible and efficient way to create and manage various types of journal entries. By linking the appropriate ledgers, it enables accurate and timely tracking of financial transactions.

Create the accounts:

When payments are made using the PSP payment functionality, they are forwarded to the system for processing. To keep track of these payments, the system uses Miscellaneous accounts. These accounts serve as a way to register the payment and allow it to be processed further via journalizing using the Financial Transaction Report.

There are different types of Miscellaneous accounts available to users, and each type serves a specific purpose. When a payment is made, it needs to be recorded somewhere in the system. This is where the Miscellaneous accounts come in. They allow users to register the payment and ensure that it is properly accounted for.

It's important to note that the actual financial payment is not received immediately. Instead, it is received later when the bank statements are processed. The PSP transfers the payments collected to the bank, and the bank statements provide the details needed to reconcile the payments in the system.

Overall, the purpose of configuring Miscellaneous accounts is to ensure that payments made using the PSP payment functionality are properly recorded and processed in the system. By using these accounts, users can keep track of their payments and ensure that their financial records are accurate and up-to-date.

We will begin to create an account in MXTS:

After clicking the button “Create account” we get a new window:

To set up an internet payment with Mastercard, we will need to add the name and select the appropriate account type in this window. For this example, we will choose the Miscellaneous account type. In the next step, additional fields will be displayed to allow for further setup.

To configure the account for internet payments, we can input a description and link the Journals, Ledgers, and Admin organization previously created. This step requires choosing the correct Miscellaneous account type, which in this case is "Account for internet payments". The available account types can vary depending on the payment methods being used, and a list of the different account types can be found in the table below.

Once the appropriate account type has been selected, the final step is to choose the payment method. For example, if we want to set up an internet payment with Mastercard, we would select Mastercard as the payment method. Other payment methods, such as Visa or PayPal, may also be available depending on the system configuration.

By following these steps, users can easily configure their accounts for internet payments and ensure that their financial records are accurate and up-to-date.

Troubleshooting common issues