Wise + KudTax
Connect Wise to KudTax to clear open items automatically – split net payouts, transaction fees and multi-currency conversions into clean DATEV journal entries.
Wise is used by merchants who take in and pay out in several currencies — marketplace payouts in pounds, supplier invoices in dollars, costs in euros. The account carries each currency as its own holding. In accounting terms those are several cash accounts with their own balances rather than one account in a changing currency, and that distinction decides the balance sheet.
How Wise works with KudTax
01
Connect Wise account
Connect your Wise account safely via OAuth or restricted API key.
02
Import payouts & fee logs
KudTax automatically fetches payout batches, individual transactions, processing fees and currency conversions.
03
Automated clearing & matching
Clears open invoice balances against Wise payout batches while booking processing fees to separate expense accounts.
04
DATEV & bank reconciliation
Outputs audit-ready financial entries linking bank deposits, payout accounts and fee receipts.
What KudTax reads from Wise
- Where the export lives
- Wise → Statement → select period and currency → export as CSV or camt.053
- What the portal calls the file
- Statement per currency
- Formats
- CSVcamt.053 (XML)PDF
Line-item types recognised
- Receipts per currency
- Payments and transfers
- Conversions between currencies
- Wise charges
- Balances per currency
What to watch for with Wise
Each currency is its own account
A balance in pounds is a different thing on the balance sheet from one in euros and has to be valued at the closing rate on the reporting date. Carry every holding in one euro figure and the valuation goes, and with it the unrealised exchange gain or loss.
A conversion is a transaction in its own right
Converting pounds into euros is neither income nor expense but an asset swap carrying a charge and an exchange difference. Booked as an incoming payment it inflates turnover with money that was never a sale.
Why connect Wise with KudTax
Fee & gross separation
Separates payment processing fees into expense accounts so P&L and tax bases stay exact.
Automatic open item clearing
Matches bundled payout batches to individual customer invoices automatically.
Multi-currency conversions
Accurately calculates exchange rates and posting amounts for foreign currency payouts.
GoBD bank-transit booking
Uses transit accounts (Geldtransit) so bank statements and payment gateways balance to the cent.
Wise integration – FAQ
Yes, each currency as its own holding with its own balance — the precondition for closing-date valuation.
Yes. Where available it is the more precise source than CSV because the fields are structured.
Yes. Fees are recognized as separate expense lines so your P&L statement remains accurate.
KudTax unbundles payout transfers and clears individual customer invoices line-by-line.
Automate your Wise accounting today
Join the online sellers who let KudTax handle the numbers. Create a free account and connect Wise in minutes.
