Introducing Payment Allocation
This feature enhances payment processing by enabling tax and social security allocations, ensuring compliance with country-specific financial regulations. Users can allocate payments into distinct categories such as taxes, social security costs, and service fees.
Wichtig
You can enable Payment Allocation from the Continia Feature Management page. Currently, it supports processing G accounts and their related payment allocations.
In some countries, such as the Netherlands, regulations require separating these components when paying (sub-)contractors. G Accounts are special bank accounts used to manage tax and social security payments. They are dedicated to payroll taxes and VAT, ensuring compliance with government regulations. Funds in a G Account can only be used for tax-related payments, ensuring they remain separate from general vendor transactions.
With Continia Banking, users can allocate payments across multiple bank accounts, including the G Account.
For more information on how to configure this, refer to the Setting up payment allocation for a G accounts article.