Bulk processing entries on merchant accounts

[deedee]

Hello ,I am new this month to quickfile accounting and getting along fine with it . My only problem is I use Stripe as one of my merchants and couldnt get a csv with all the details importing correctly . As I only get paid monthly by Stripe I think its easier to just do a monthly lump sum for sales and fees but am struggling a bit . I have read through the knowledge base and can see how I need to show them in 3 lines , gross, fees and net paid but then it says for more help with bulk processing entries on merchant accounts click here , but there was nowhere to click . Is there any extra help for this topic please

[QFMathew]

Hi @deedee

Sorry about that! Do you have a link to the guide, please?

Have you managed to import your bank transactions that show the pay outs to you from Stripe?

[deedee]

hello Mathew its on this page https://community.quickfile.co.uk/t/accounting-for-income-from-a-payment-service-provider/8870

Lumping together sales and transaction fee totalsIn the previous example, we logged all 4 payments individually. This may well be time-consuming and in some cases, you may not want to issue an invoice directly from QuickFile. In such cases you can lump together all your payments on the merchant account and instead just enter the daily total, you can then tag this to a client called something like “Generic GoCardless Sales”.

You can do this daily, weekly, monthly, or at any interval that suits you. The same applies for the charges, rather than individually enter every single charge, just enter all the charges as one lump debit on the Merchant Account on a daily, weekly, or monthly basis.

For more information on bulk processing entries on merchant accounts see here. ???

I have done it as I thought but it actually shows entries in my current account on quickfile, is that correct please, the 1st line below is when the bank entry was pulled through, the other 3 lines are the ones I did to show the gross figure for stripe, the fees and the net amount which matched with the amount in my bank

This isnt urgent and can wait until Monday , thank you for your help

[QFSian]

Hi @deedee

Thank you for bringing the broken link to our attention, this has now been fixed.

The link now points to: Handling payments from merchant accounts which may be of use in your situation.

I’m sorry this took so long to sort out, it just took a while finding out where the link should be pointing to.

[deedee]

Hello thank you. I think I managed to do it but will have a good read