Stripe Virtual account all over the place

Support
1

Hi,
My stripe virtual account seems all over the place and I mark stripe payments to this account and then in theory when the bank feed uploads I process a transfer from stripe. Only problem is the stripe balance doesn’t go down?
How do I reset this so it is zeroed off without showing as a massive credit?
Thanks

2

Hi @Tym777

We can’t help with individual bookkeeping queries, unfortunately, but we can give you a few pointers for things to look out for.

  1. Is the balance on your Stripe account too high?
    If so, it could be that you’re missing transfers over to your current account when Stripe pays out. Or, it may be that you haven’t accounted for the Stripe fees that they deduct before paying out.

  2. Is the balance on your Stripe account too low?
    If it’s negative, it may be that you have multiple transfers out to your current account. In this case, assuming the transactions are all tagged, you would see an inaccurate balance on your current account too.

Reconsiling your Stripe account against the activity recorded on QuickFile would help identify any potential issues.

1 Like
3

Hi,
It is massively too high. No idea how it has happened I can only assume a flaw in the software as I remember seeing post about this before. All stripe payments get assigned the credit and therefore the fees would be left. I’m left with the total balance and just need to reset it at some point? How do I do that please?
I think it is an old flaw from a few years back.

4

When a user pays via Stripe, if it’s done within QuickFile, it would automatically be assigned to the invoice they paid against. If they paid outside of QuickFile and the transaction is imported through the Stripe feed, it would need to be manually tagged, in which case they would just appear as “untagged” on the account.

The only way to zero it would be to create an entry on the bank account or journal it. Either way, the balancing entry would need to go to another nominal code. I would recommend reconciling the account to ensure this is accounted for correctly.

5

If all Stripe transactions are tagged and charges properly accounted for then I would suspect either duplicate invoices or accounts with spurious pre-payment balances.

One of our volunteers entered some internet sales this week and manually flagged them all as “paid” which caused two sets of Stripe transactions to appear. Luckily I spotted it and posted corrections but I could have just as easily assigned the untagged transactions to new invoices. Quite possibly you did something similar in the past, perhaps by using the “Cash Register Sales” function.

6

HI
I did think it could be that but only I tag them and always select the virtual account (although one or two may have been selected by mistake) I’m currently rocking a huge stripe balance that has rolled over for about three years now.

7

Try sorting your client list by pre-payment balance and see if there is anything unusual there.

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