To ensure accurate and efficient handling of transactions made with the Mynt card, it's important that your accounting settings are properly configured. Below is a guide to the most important settings and how to set them up.
Contra Account
What is it?
The contra account reflects the account in your bookkeeping used when purchases are made with the Mynt card. It’s the account from which money is booked for each card transaction.
Recommendation:
A typical setup uses an account in the 19XX series, such as 1920 (Bank Account). For better clarity and easier reconciliation, we recommend creating a separate account specifically for the Mynt card.
Voucher Series
What is it?
Voucher series are used to organize different types of journal entries in your accounting system.
Recommendation:
Create a dedicated series for Mynt transactions, for example named "X – Mynt Card Purchases". This makes it easier to track and follow up on transactions, especially if you have multiple financial flows.
Bank Account for Top-Ups
What is it?
The account used when transferring funds to your Mynt account.
Recommendation:
Use your main corporate account, typically 1930 (Business Account). Top-ups should be recorded as withdrawals from this account, and correct setup ensures accurate financial reporting.
VAT Account
What is it?
The account where input VAT is recorded for purchases made with the Mynt card.
Recommendation:
The standard account is 2641 – Input VAT. Make sure this is correctly set to ensure proper VAT reporting to the tax authority.
Foreign VAT (Reverse Charge Mechanism)
When does it apply?
For purchases from abroad, especially within the EU, where Swedish VAT is not charged directly.
Recommendation:
Record both input and output VAT on the following accounts:
2645 – Input VAT – Reverse Charge
2614 – Output VAT – Reverse Charge (EU)
This is required to comply with reporting regulations set by the Swedish Tax Agency.
Mynt Fees (Optional)
What is it?
Fees that may arise from using credit or installment plans connected to the Mynt card.
Recommendation:
Use a dedicated expense account, such as 6570 – Bank Charges, to clearly separate these fees from other operating costs.
Export Date
What is it?
The date used when exporting transactions from Mynt to your accounting system.
Options:
Purchase date – the date the transaction occurred
Payment date – the date the amount was actually charged
Recommendation:
Choose the date that best fits your accounting practices and ensures a proper match with your bank statements.
Dimensions
What is it?
Dimensions are used for internal categorization of expenses, such as project, department, or cost center.
Recommendation:
Enable relevant dimensions in your accounting system to allow for more detailed tracking and improved reporting capabilities.
Expense Claims (Premium Plan Required)
Private Expenses
What is it?
When an employee makes a purchase with personal funds and submits an expense report via Mynt.
Recommendation:
Register the expense as a liability to the employee by recording it to Account 1610 – Other Current Receivables. This account is credited when the expense is submitted and debited when the reimbursement is paid.
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