We enter our main current bank account transactions by downloading and uploading transactions weekly. We are unable to get a bank feed (Unity Bank).
For some time we have had a Stripe account through Quickfile. It has an active bank feed and has been working well. It is called the Stripe Holding Accoun t.
Then we started to get additional payments from Stripe coming from Ticket Tailor. We added an additional Stripe account (The Stripe Ticket Tailor account) and added transactions manually from the Stripe website. Luckily we don’t have many transac tion s.
Then the holding account started to show a negative balance. On looking at it there were five payments out that did not correspond to the payments in and these appeared to be duplicates of payments out from the Stripe Ticket Tailor acco unt.
When looking at the current bank account we found three entries that were not in the Bank statement so it appears that the Stripe account has been changing the current bank acc ount page.
Finally I made a spreadsheet and looked at all the payments together. Of the five phantom payments from the Stripe holding account two were duplicates of the ticket tailor account but did not alter the current account. The next three from the 2nd September onwards were also duplicates but they added an equivalent payment to the curr ent account.
I have considered getting rid of the ticket tailor account and just tagging the net payments that arrive from Ticket Tailor as income. That seems a bit rough and ready but as I said we don’t have many tra nsactions.
I’ve looked at the previous post on duplicates but it doesn’t seem exactly the same thing.
Stripe accounts cant be merged but I think I can adjust ticket tailor to send its payments in future to the QF Stripe account. That would make sense. But I think I need to keep things as they are until my next event is done.
As for your numbered procedure that is just what I have been doing.Bank transfers in the current account and tagging to customers in the Stripe account (as per your information sheet).
But it seems to me that my stripe holding account is actually changing the figures in the current account when Stripe makes a payment to the current account. So when Stripe pays, say, £12.95 to the current account that figure appears in the current account - and then is duplicated when I import the bank statement. Is that possible? Or has one of us here done something stupid?
So when Stripe pays, say, £12.95 to the current account that figure appears in the current account - and then is duplicated when I import the bank statement.
If you have a transaction in both Stripe (from the import) and the current account (from the imported statement) you need to match them off together.
I suspect you are leaving the default “Create new transaction” when tagging the bank transfers
Here is an example of a bank transfer from Monzo to Nationwide where a transaction exists on both accounts.
Do you actually have two separate Stripe accounts for your TicketTailor sales and your QuickFile invoice payments (i.e. you have to log in separately to the Stripe dashboard to see transactions for each one, and you get separate fee invoices each month), or have you connected the same Stripe account to both platforms? And have you actually enabled the “automated feed” setting for Stripe in your QuickFile account? By default this is turned off, and your holding account only gets the money in transactions relating to payments that actually happen within QuickFile, not ones that happen on other sites to which you have connected the same Stripe account.
It sounds to me like you may actually be better off disabling the auto feed in QuickFile. Your invoice payments through QuickFile will appear in your holding account anyway, your TicketTailor sales you presumably have some sort of CSV download or summary document produced by TicketTailor that you can use as the source of truth, and just make a daily or weekly (or whatever) sales invoice in QuickFile for your total TicketTailor sales and “log payment” into the Stripe holding account. The payout transactions you can create from the other end, when you tag the incoming money in your current account. And then at the start of each month Stripe lets you download a summary invoice giving their total fees charged in the previous month, which you can record as a purchase paid from the holding account in order to balance everything up.
