Paylike Payment Gateway doesn't do invoices

N

Nemama

Registered User
Messages
74
Hi all,

I've started working with Paylike, a danish payment gateway solution. However they say that they don't do invoicing from their fees/transactions fees.

Is that normal or even legal? How do you guys do bookkeeping/accounting with your payment gateway solutions?

Further details: https://paylike.io/accounting
 
Sounds unusual. Do payment processing fees attract VAT? In which case, don't they legally have to provide a VAT invoice on request?

If no VAT, assuming they just subtract their fees from the transaction amount they credit to your account, I guess you could just treat that as your income figure for each sale, and don't need to account for their fee as a separate line item (although you probably should to check the fees are calculated correctly, and stay competitive).
 

No VAT (self-employed generating less than 37k per annum). But the client will ask for a receipt of the total but I won't get it all. How can I invoice the client?

Thanks
 
My question was more: the payment gateway is providing a service, does that service attract VAT?
 
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