Allocating Payment from Stripe

Question asked by Martyn Tomkins 9 years ago

I am using Stripe.com to collect payments from customers. The problem is I am not sure how to allocate the payment from Stripe when reconciling my bank transactions. The payment that comes in and relates to multiple invoices in Clearbooks for multiple customers but it also deducts Stripes % handling fee.

I know how to allocate the transactions across multiple invoices but I cant work out how to assign the invoices to be paid at the full amount and then log the % handling fee as a cost of sale.

Can anyone advise on how best to do this?

Thanks

Martyn

stripe
reconcile
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5 Replies

Personally I would have Stripe as a separate bank account. I would first pay the invoices off using the Stripe account and then, when the payment from Stripe comes in, I would class this as an inter-account transfer between Stripe & Bank. Finally, perhaps once a month for ease, I would do a 'money out' from the Stripe a/c to represent the fees deducted at source.

Best answer
9 years ago

Yeah I agree with Kevin. Is there a Stripe sync yet like Paypal or do you export the transactions and import them?

9 years ago

No sync i'm afraid.

So yeah, export a csv and work your magic or come up with some kind of formula where you just create a single monthly transaction to cover everything.

9 years ago

In the end I went for creating a cost of sale payment against the bank transaction for the value of Stripes fee and which then brought the overall value of the transaction up to the correct amount that I could then allocate to the invoices it covered.

9 years ago

Yeah makes sense. Only annoying thing is Stripe charge different on location.

9 years ago

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