Introducing payment allocation
Payment allocation lets you distribute a single payment across multiple bank accounts based on defined rules. This is useful when regulations require separating specific components of a payment, such as taxes, social security contributions, and service fees, for example when paying (sub-)contractors in the Netherlands.
Continia Banking supports predefined allocation types. For example:
- G account - allocates a percentage of each payment to a dedicated G account, which holds funds for tax and social security purposes. For more information, see Setting up payment allocation for a G account.
- Partial - splits a payment into separate entries with different amounts and due dates. For more information, see Setting up payment allocation for partial payments in Continia Banking.
You can also create custom allocation types to cover other scenarios, such as VAT-only calculations. For more information, see Setting up and managing payment allocations.
Related information
Setting up and managing payment allocations
Setting up partial allocation for g account
Setting up payment allocation for partial payments in Continia Banking