I have just been through and reconciled the Stripe holding account on one of our accounts in quickfile, and it would appear that no Stripe Fees are showing in the holding account from invoices paid via Stripe, however website payments are having the Stripe Fees created in the Stripe holding account no problem.
I have manually created the missing ones now, but one assumes that this is a bug rather than a settings somewhere?
Hi @Normski
If an invoice in QuickFile is paid through Stripe, then no fees are recorded. You would need to do this manually.
What may be a better option, is to disable fees on the feed too, and reconcile it at the end of the month with the Stripe invoice.
Oh ok, thank you. That seems a little archaic, but alas I will do it manually.
Hi Normski,
The Stripe feed has the option to choose to get the fees downloaded to your stripe holding account in quickfile or not (See screenshot below). If the tick box is unticked then you will get the fees for each transaction, is the box ticked fees will be excluded. But I am not sure is it working for invoices paid over quickfile, as Mathew descript above. Is it not working for invoices paid over quickfile then I would be surprised as well and I would ask why there is a difference for invoices paid over an external source or quickfile?
Are you registered for vat? I remember another user (I think it was @ian_roberts) mentioning that the fees have to be reverse charged anyway so logging them as one invoice and payment would be easier
Just found this Stripe Set up - #5 by ian_roberts
Hi, I am also having the same problem. How would I go about recording the Stripe Fees manually please?
Hi @RUBY1
You can just record this as a manual transaction in your Stripe bank account. Just go to your Stripe account and click on the “Input transaction” button at the top to get started.
Hi, sorry to be dense but I don’t understand this. Currently my stripe payments go into the Stripe Holding Account and (if online payments) are automatically tagged against the invoices. Every two weeks the sums are transferred to my Bank account less the Stripe Fees. I get an invoice every month from Stripe detailing those fees which matches up. What I cant figure out is how to account for the Stripe fees. If I add them manually every month where has the payment come from?
Hi @Upozi1
When you input the Stripe invoice into your account, and can tick the box that says it’s been paid in full, paying it from your Stripe holding account.
Let’s take an example of a £100.00 transaction - I’ll keep the figures nice and rounded for simplicity.
Sale of ÂŁ100, client pays the full ÂŁ100. This is entered into your Stripe holding account and tagged to the corresponding ÂŁ100 invoice.
There’s a fee of £5 from Stripe, which will be accounted for on the monthly invoice.
Lastly, there’s the payout you receive, which is the payment amount minus the fees, so £95 in this case.
This leaves a balance of ÂŁ5 unaccounted for on the Stripe Holding Account. When you then enter and tag the invoice from Stripe, this cancels out.
Hope that helps!
sorry to continue to be obtuse. Your explanation makes perfect sense .
But I receive Stripe payments day by day and they are transferred to the main bank account every week and I receive the invoices every month. So there is always a balance in the holding account.
I can reconcile it by adding up the figures on a bit of paper but it is very difficult to see a reconciliation on the screen. Is this just something I have to live with?
best wishes
Yes, that seems odd. In the QuickFile accounting system, the fees associated with the use of Stripe for invoices and website transactions would typically be recorded automatically. It might be a good idea to check the Stripe settings on your account just in case.
