How to record a dummy purchase?

Accounting
1

As one element of my business I have a web-based shop which takes payments through Stripe. Thanks to other posts, I have set up a merchant account for Stripe so the purchases are all square and books balanced… except for the “test purchase” I made when I first linked Stripe to my website.

Normally I’d create a sales invoice for the buyer, put the money into Stripe, then the actual amount that hits my account is a transfer between accounts and the fees go down as an Overhead.

For a test purchase though, what to do? I have £X leaving my account to Stripe, and £x-minus-fees coming back in. I’m both buyer and seller here…

N.B. Stripe do provide different settings specifically to run test payments but I could not for the life of me get them to work, and when in frustration I put the “live” details in they worked first time.

How do I best reflect what happened here in Quickfile?

2

All that has happened here is that you transferred some money from your current account to your stripe account, used some of it to pay their fee and then transferred the rest back the other way.

Tag the test payment as a bank transfer to stripe, the “payout” as a transfer back. The fee you will account for in the normal way when you get your next monthly fees invoice.

1 Like
3

Perfect, thank you. Again.

Is there any way I can send you a fiver for a beer / coffee / cake / whatever? :slight_smile:

4

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