The verdict in three sentences
A business collecting both by bank (GIM-UEMOA, transfers) and by mobile money must reconcile two logics of fees and delays before producing its accounts. The key is a standardized export (CSV, FEC, or a Sage/Odoo connector) fed by weekly rather than monthly reconciliation. Properly tooled, you go from a 3-to-5-day close to under a day, with VAT ready to file.
Bank vs mobile money: what differs
The two channels share neither the same fees, nor the same payout delays, nor the same statement detail. That is the main source of discrepancies.
| Criterion (2026 estimate) | Bank flow (GIM-UEMOA) | Mobile money flow |
|---|---|---|
| Payout delay | 1 to 3 days | Instant to 48 h |
| Typical fees | Fixed + commission | Percentage (often ~1 to 1.9 %) |
| Statement detail | High | Variable by PSP |
| Order reference | Often absent | Via API if integrated |
| VAT reconciliation | Standard | To reconstruct |
Export formats and frequency
The right format depends on your accounting software and your accountant's requirements. The FEC (accounting entries file) remains the reference for a structured export.
| Format / cadence | Use | Advantage |
|---|---|---|
| Raw weekly CSV | Internal control | Simple, universal |
| Monthly FEC | Accountant / audit | Standardized, traceable |
| Sage connector | Integrated accounting | Zero re-entry |
| Odoo connector | ERP / management | Auto synchronization |
| Weekly reconciliation | Recent gaps | Fast close |
Weekly reconciliation avoids the month-end "tunnel" effect of hunting a three-week-old discrepancy.
Mini case study
Aïssatou runs a distribution SME in Dakar: 40 % bank collections, 60 % mobile money, ~800 transactions/month. Her monthly close took 5 days and her accountant billed extra hours to reconstruct VAT on mobile money flows. Switching to a monthly FEC export plus automated weekly reconciliation, the close drops to under a day and she saves about 8 accountant hours per month (≈ 40,000 to 60,000 FCFA), while securing her VAT return.
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FAQ
Can I reconcile bank and mobile money in the same tool?
Yes. A reconciliation module aggregates both flows, applies the correct fees to each and produces a single export (CSV or FEC), eliminating double entry and fee discrepancies.
What is the FEC and why use it?
The accounting entries file is a standardized export format. It eases the accountant's work and audits, and guarantees line-by-line traceability of bank and mobile money collections.
How often should I reconcile?
Ideally weekly. Weekly reconciliation catches recent gaps and cuts the monthly close from 3-5 days to under a day.
How do I handle VAT on mobile money flows?
You must reconstruct the amount net of PSP fees for the taxable base. A structured export separates gross, fees and net, making the VAT return reliable.
Let's talk about your project. We set up your standardized accounting export (CSV/FEC, Sage/Odoo) and bank + mobile money reconciliation. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
