Transfers between bank and Stripe

[Sameera]

Hi, I am having a problem with the transfers between Stripe and the bank account.
Some transfers take up to 5 days to get from Stripe to the bank account. When this is tagged in the bank account, it creates a duplicate transaction in Stripe.

It does not seem to recognise that this is a duplicate transaction.
I was wondering if in the setting of Stripe account, one could have the option for Stripe not to pick up transfers to bank - similar to settings under paypal?

or

I tried to go to advance settings, to add no of days to the following settings. When i save the setting ie. 7 day each way, it does not save the setting. Wonder if this is a bug?

Period within which to check
bank import duplicates

Please could you check. Thanks

[QFMathew]

Hi @Sameera

I don’t believe we actual record a transaction for the transfer out from Stripe.

Stripe works differently from PayPal in that there is no feed - we can only record the transactions that take place on QuickFile itself. I’m not sure where the original transaction is coming from for it to be a duplicate?

[Sameera]

Hi Matthew

Sorry, it has taken me long to get back to you on this.

My client has a new stripe account, they take payment directly from clients etc and its all processed within Stripe.

They then manually enter into QF each transaction from Stripe, under Stripe bank/merchant account in QF.

When tagging transfers from Stripe to Barclays current, QF does not recognise that Barclays already has this transfer from Stripe. This transfer therefore creates another same transaction in Barclays.

(when I tag amounts between Barclays business current and business savings account, both have automatic bank feeds, QF recognises that it may be duplicate and asks if I would like to create a new transaction in savings or tag it to existing transaction).
This is the message you see, and see screenshot below
We have found transactions on the inbound account with the same date & amount
Select a matching transaction or create a new one below

This is how it looks in Stripe bank account

[Edit: I realise that these transactions are dated same date. And the one between Stripe & Bank are different dates]

I then looked under the settings, and found this:

However i could not save the setting, please see my notes in red withing the screenshot:

This is what i meant in my original post:[quote=“Sameera, post:1, topic:16582”]
I tried to go to advance settings, to add no of days to the following settings. When i save the setting ie. 7 day each way, it does not save the setting. Wonder if this is a bug?

Period within which to check
bank import duplicates

Please could you check. Thanks
[/quote]

Will this option help with the above issue?

Thank you
Sameera

[QFMathew]

Hi @Sameera

@Sameera

When tagging transfers from Stripe to Barclays current, QF does not recognise that Barclays already has this transfer from Stripe. This transfer therefore creates another same transaction in Barclays.

The issue here is that the transaction dates are likely to be different, for example, Stripe may deposit the funds on a Monday, but they may not hit the bank account until the Wednesday. This is a similiar set up with other payment processors like PayPal.

When you try to tag the transfer, it will search for the amount and the date in the transferring bank account. If these are found, then it suggests them (providing they are untagged). If the dates don’t match, it’s unlikely to be the same transaction.

In this case, you would just need to match the date with that shown on your bank statement.

To clarify the settings for you, I’ll run through these briefly:

Period within which to check bank import duplicates
If you import a list of transactions and you have one dated within the time period you state (and the description and the amount matches), then we will flag it as a duplicate. Usually you’ll be given the option to discard or accept it.

Search range on bank tagging
I believe this relates to payments for invoices (when clicking ‘Log Payment’ and saving, it will search within this range). I will however double check and confirm.

Regarding the save option, I’ll give this a go and come back to you on this one too.

[Glenn]

@Sameera

They then manually enter into QF each transaction from Stripe, under Stripe bank/merchant account in QF.

If they are manually entering then I would suggest they just omit any settlement payments to the bank. You can then just tag any incoming payments from Stripe to the Stripe Merchant account and not worry about duplicates.

As @QFMathew mentions the dates seldom match with most payment providers and usually the funds end up in limbo for a few days. The date the funds hit the bank is more important than when they leave the Stripe account.

[Sameera]

Thanks, I will suggest this to the client.
They do manually upload the CSV, I will ask them to delete transfers to bank rows…

Does it get any easier with Zapier?

[Glenn]

Zapier has a high level of customisation, you should be able to filter transaction types and once setup you can just leave it running. For low volume use you can also probably stay within their free tier.

[Sameera]

Thanks Glenn.

Best regards
Sameera

[Glenn]

Hi @Sameera

We’ve extended the match window now to +/- 5 days. See here for more details.

[Sameera]

Great Thanks Glenn, I had forgotten about it.

[Sameera]

Thanks, Glenn, I now see where this 5-day range comes in.
This was just a normal transfer to the business savings account, so I did not get to select any matched items yet.
I don’t have an automatic feed for the savings account. Again, thank you for adding this feature. I am sure it will come it handy.