Stripe/paypal payment - question

So quickfile has integration with stripe - so when I create an invoice, customer then pays via stripe. When payment is complete, Stripe then communicates with quickfile and quickfile helpfully marks it as paid.

I then move my funds from stripe to my bank account, then as normal procedure, every month i import my bank statement into quickfile.

However, quickfile sees the payment from stripe. What do I tag it as? I can’t assign it as payment to a particular invoice because it’s already been tagged.

Thanks.

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:

I hope that helps!

Can you just clarify that I should now tag this value from my bank statement as ‘transfer between accounts’?

Since quickfile (as mentioned) received the message from stripe as invoice as paid.

I have since clicked ‘transfer between accounts’, then selected stripe holding account, then set it to make a rule for it.

Yes that would be correct. The transfer should match the date on your bank statement.

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