I receive only a few Stripe payments but my accountant has flagged issues with the tagging process and unallocated amounts left in the client accounts.
When setting up Stripe, I adjusted the handling charge percentage to equal that of what the Stripe transaction charge is. Therefore I receive the exact payment for each invoice when Stripe pay my business account. This is reflected in the Stripe merchant account.
So money from client to Stripe is paid to me less the actual transaction charge. This transaction charge is later tagged as payment to Stripe and clears the Stripe balance to 0.
When I look at the original client invoice it shows the original amount charged with the same paid amount as per what Stripe have transferred. However when clicking the payment attributed to the invoice it shows an unallocated amount.
It is these amounts that are showing in the debtor/creditor reports as unallocated.
When you set a percentage markup for Stripe payments in QuickFile it increases the payment amount but does not automatically update the invoice value to reflect this. You will need to either modify the original invoice retrospectively to add another line for the payment surcharge, or issue a separate invoice to the same customer just or the payment charge - in either case you would “log payment” → “apply from credit” to assign the unallocated payment to the new or modified invoice.
But going forward I strongly recommend checking with your accountant whether this is something you’re allowed to do at all - these days you are not allowed to charge different amounts for the same service to consumers depending solely on the method of payment they choose to use. I believe payment surcharges may still be permissible for B2B transactions but you have to be certain that your customer is a business rather than a consumer.
I have raised a separate invoice for the credit card charges and paid them from each client unallocated amount.
This has sorted and cleared all but one of the unallocated amounts.
One unallocated client amount is still showing when exporting the data as an excel file Debtor / Creditor Report.
However the invoice and related payment shows clear of the unallocated amount.
It could be the date of the payment but as its locked for VAT I cant amend or delete. Is it possible for you to have a look at it for me please.