Younium provides an integration to GoCardless that enables users to configure direct debit mandates with end-customers and automatically process payments for invoices.
To use the integration, an established account and separate agreement with GoCardless are required.
Initial setup
Integration is enabled in Younium by browsing to Settings > Integration > GoCardless, click "Connect". You will now be directed to a GoCardless login screen, make sure to authenticate and approve the connection between Younium and GoCardless.
Once this is done, you are directed back to Younium and there are a few settings that are important to make.
Requesting mandates from end-customers
Once integration is enabled you can invite your customers by clicking "Request mandate" on the account in Younium. This will send an e-mail invitation to the customer to invite them for direct debit. Using that email, the customer is directed to a GoCardless hosted page where they enter their business and bank information and approve the direct debit mandate. The steps the customer takes depend on what country and direct debit payment method (BACS, ACH, AutoGiro etc.) is applicable.
When the customer has submitted the mandate and it has been processed in GoCardless, the mandate status is visible in Younium on the account in the field "GoCardless status". When a customer has status "Mandate approved" it is ready for direct debit payments.
Process payments
The payment method is set on the Order level in Younium, this means that for a future invoice to be applicable for direct debit, the Order must have the payment method "GoCardless". With the payment method "GoCardless" the invoice will be available for direct debit either:
- Automatically on the invoice due date
- Manually at any time using the button "Process payment" on the invoice
In both options, Younium sends an instruction to GoCardless to debit the customer using the approved mandate and, if successful, the payment is automatically applied in Younium and change the invoice status to "Settled". Upon successful payment, the funds will still be at GoCardless and waiting for the next payout to your bank account. Normally payouts from GoCardless is done daily.
Whenever a direct debit payment is successful, a payment is applied to the invoice in Younium, using the specified payment method configured in the GoCardless settings (Settings > Integrations > GoCardless). A normal transaction credits the accounts receivable accounts and debits the GoCardless payments account (undeposited funds).
Receiving payouts
Payouts are received from GoCardless in batches, normally consisting of multiple invoice payments. Each time a payout is received, a journal with the type "Payout" is automatically created and posted in Younium. The payment method used for this is configured in GoCardless settings for each currency under "Payout methods". This journal credits the GoCardless payments account (undeposited funds) and debits the bank account. In this journal the fees deducted by GoCardless is also posted to make sure that the correct balance is correct on your bank account. Note that this means that the amount on the GoCardless payments account (undeposited funds) is before the fees have been deducted and a slightly lower amount will in the end be booked on the bank account.
Change default "Request Mandate" template
When requesting mandates through Younium, the template found under Settings -> document templates -> document templates will be used. If you wish to make any changes to this just go ahead and download this default template, make desired changes, save the document and go ahead and re-upload this new document in order for it to be used as the new template.