Payment allocation for regulatory compliance

This feature enhances payment processing by enabling allocation of payments into categories such as taxes, social security, and service fees, helping meet country-specific regulatory requirements.

With Continia Banking, you can allocate payments across multiple bank accounts and manage allocations flexibly. This includes creating multiple or partial allocations, adjusting allocations after posting, and previewing how allocations are applied before processing. Allocation rules can also support VAT-only scenarios where required. For more information about setup, see Setting up and managing payment allocations.

In some countries, such as the Netherlands, regulations require separating these components when paying (sub-)contractors. G Accounts are dedicated bank accounts used for tax-related payments, ensuring funds such as payroll taxes and VAT remain separate from vendor transactions. For more information, see Setting up payment allocation for a G account

For more information about setup, see Setting up and managing payment allocations.