Am I correct there is no way to import USD stripe transactions with a feed? Does anyone have any recommendations how to overcome this without having to do the import manually somehow?
You could record transactions manually
You could set up a merchant account in QuickFile for Stripe USD transactions.
In here, you would have the normal 3 transactions:
- $110 money in, tagged to the invoice
- $100 money out, tagged as a transfer (if deposited to a GBP account, it would be £xx.xx (depending on the exchange rate) on the other end)
- The balance of $10 would then be tagged as a Stripe fee as you normally would.
So effectively, you would record just the USD transaction in there, with the transfer out to current account and the fee, as you would on any other merchant account. For example (based on an invoice of $110):
|Description||Money In||Money Out||Tagged|
|Paid invoice||$110||-||Tagged to invoice, invoice is now paid in full|
|Transfer out||-||$100||Tagged as a transfer to your current account|
|Stripe Fee||-||$10||Tagged as payment to Stripe|
When you tag the USD transfer out to a GBP account, you can also enter the GBP value so it all matches up.
Yes - thanks that is the obvious answer but not all that helpful when you don’t want to spend valuable time doing things manually. I am looking for a more efficient solution really. Is there some limitation why Quickfile cannot have a feed for USD transactions? I don’t know exactly how Wise works but it should have a similar but different problem (although in that case I appreciate they may be identified by separate accounts). Is it that QuickFile cannot have an account that can show multiple currencies - be helpful if it could simply import all transactions in mixed currencies and not just ignore the USD transactions completely. I understand it might not be so easy but additional consideration here would be appreciated as it is a real pain to do this manually and succeed in keeping accurate records.
Perhaps something such as Zapier would be an option to automatically do this for you? It’s not something I’ve tried personally, but just trying to think of a solution for you.
Wise offers an Open Banking feed which does identify different accounts and each has their own reference allowing us to filter them out into the different accounts. I don’t believe Stripe does it this way and it comes in as one feed. Stripe is also integrated as a payment gateway, so people can pay their QuickFile invoices using Stripe, whereas Wise is just a feed.
We can certainly consider it as a future feature however - you’re more than welcome to start a #feature for this (if there isn’t already one) and we can keep an eye on the interest in this.
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