I have set up a “Stripe” account under “Merchant and Online Payment Service Accounts”
When someone pays me online, the payment goes through stripe and after 7 days, stripe transfer the payment to me minus their fee.
I then record the payment on quickfile to my bank account and deduct the Stripe fee as a transfer from my bank account to the Merchant account.
This deducts the money from my business account but then in the merchant account, it shows as a positive balance.
I was wondering, am i doing this correctly? or is there something I should do different?