Stripe/paypal payment - question

[QFMathew]

Hi @tom_44

Essentially there are 3 parts to a payment through a merchant account:

1. The full payment coming into the merchant from your client - tagged to the invoice
2. The fee taken by the merchant - tagged as a supplier invoice
3. The balance paid out to you - tagged as a transfer between accounts

You would therefore have 3 transactions representing this - the first 2 in the merchant account itself, and the last one in your current account (or wherever the funds are deposited).

You may also find this guide helpful:

Handling payments from merchant accounts

Many businesses these days receive daily payments from online payment providers like PayPal, GoCardless, Worldpay, SagePay etc as well as fixed terminal card systems like Streamline, Barclaycard Merchant Services, etc. Often we don’t want to spend the time putting in every single sales invoice into the accounting system and fortunately, we don’t need to. This guide will explain how to save time and log your sales in bulk. The basics When you upload your current account statement into QuickF…

I hope that helps!