Stripe Billing + QuickFile

[zappdance]

Hi everyone,

I have searched the community here but wasn’t able to find how we’d handle this setup in QuickFile:

We’re going to be using Stripe’s Billing feature going forward - we plan to set customers, subscriptions, and one-off invoices via the Stripe dashboard or via API from a custom enrolment form.

Stripe will handle all of the invoicing, transaction initiation, collection etc. and pay out to the bank account.

My question is around the reconciliation of all of this when it gets to the bank account. We obviously need to record that the value of the sales is higher than the amount received so we can account for the fees Stripe has taken.

My initial thoughts are that we’d connect to Stripe using the integration QuickFile offers, and essentially use it just for it’s account feed, then record the income in the bank account as a transfer between the two accounts, leaving the fees to be recorded in the Stripe account in QuickFile.

• Will this work in the way we’re expecting?
• Will QuickFile recognise transactions that it has not initiated?
• Does QuickFile automatically add the Stripe fees as bills, and if so are the extra Stripe fees incurred from the Billing module accounted for?

Thanks

[QFBeth]

Hi @zappdance

The Stripe feed will work the same as a bank feed whether the payments have been initiated by QuickFile or not.

You can choose to ignore the stripe fees within the account settings if you wanted to import them as a monthly total:

[rhc]

If you use both bank feeds, current account and stripe, you should also tick “Ignore Payouts” in the Stripe settings. If you have it unticked, it will create duplicate entries when tagging.

[zappdance]

Thanks for the advice