How do I reconcile Stripe fees?

Here are some recommended steps. While there are various ways to achieve this, the main goal is to add an expense transaction to record the Stripe fees for each of your Stripe payouts. Here is one way to do this if you are using the Undeposited Funds account:

1. Go to your bank feed in QBO and find the Stripe deposit.

2. Log into Stripe and navigate to Balances >> Payouts.

3. Find the corresponding payout and click on it. You will see a list of all the transactions that are part of that payout; there could be 1 or 100, the process is the same.
   
   

4. In QBO, click on the transaction and then click "Find match."

   • This will open a list of invoice payments that have not been reconciled, but they will be for the amount without the fees removed.

    5. Using the list of transactions in the Stripe payout, find and select the checkbox for each                 transaction in the QBO list that matches the transactions in the Stripe payout.

    6. Once all transactions are selected, add an adjusting transaction at the bottom of the screen in          QBO:

• Select your bank charges or Stripe fees expense account.
• Enter the amount of the fees taken off as shown in the Stripe payout.
• This will create the expense transaction for the fees, balance the deposit transaction, and link everything together in QBO.

Please refer to the screenshots below for visual guidance.

Of course, your accountant or bookkeeper may handle this differently, so it's best to check with them if you can.