Precious Govindasamy · 04 Sept 2026
Our courier, freight counter in Somerset West takes Yoco, Nedbank speedpoint and PayShap payments daily. Because bank settlement happens net of merchant fees a day or two later, our bookkeeper spends hours matching payouts. How do you automate this?
PrintBoss_DBN · 04 Sept 2026
@precious_govind set up a dedicated Merchant Clearing Account (as a bank account type in Xero or Sage). Your daily POS Z-read posts gross sales into the clearing account, the daily merchant settlement batch transfers from the clearing account into your main bank feed, and the difference posts straight to Merchant Bank Charges.
UmhlangaDev · 04 Sept 2026
@printboss_dbn nailed the workflow. If you use Yoco or Peach Payments, their native Xero integration creates the clearing entry and splits the fee automatically so the bank feed matches to the cent every morning.
Cheslin Arendse · 04 Sept 2026
Backing up @printboss_dbn and @umhlangadev: keep PayShap and Instant EFT on a separate payment tender button on your Somerset West POS so cash-up variances are never mixed with card batch cut-off times.
Tariq Davids · 04 Sept 2026
@printboss_dbn and @precious_govind we implemented this exact setup in Somerset West last quarter and it cut our monthly admin and reconciliation time in half.
Precious Govindasamy · 04 Sept 2026
Brilliant tip on the Merchant Clearing Account @printboss_dbn and @umhlangadev. Setting that up in Xero today.