The director and shareholder of the company made an investment using his personal credit card via the companies Stripe account. The company’s main currency is GBP, however, the investment was made in EUR and Stripe has transferred the amount to the company’s EUR account (after deducting the fees). The investment will be repaid in EUR, with the same EUR amount as invested.
How shall this transaction be entered into QuickFile?
Hello @corvinn
There are 2 parts to this.
With the Stripe side of things, you need to account for the fee that they take from the transaction. This would be handled in a Stripe Holding Account. If everything was in EUR, you can stick to this and record it in a EUR Stripe Holding Account (you will need to create this if you haven’t already).
There’s more info on handling merchant charges here.
The second part would the bank transfer. As you can’t have mixed currencies in a bank account, I would create a second Director’s Loan Account with a name such as “DLA Mathew (EUR)”, and tag the balance to that account.
I hope that makes sense?
Clear, thank you. Will give it a try in the application and respond if there are further questions.
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