One of my shops is using Stripe for our payment processor (not Shopify Payments) and Quickbooks Online for accounting. I'm leveraging an ETL tool to move Shopify Orders into Quickbooks as Sales Receipts, which works great.
The probably I'm running into is finding a tool that can reconcile bank deposits with Stripe. Has anyone found one that reconciles at the Stipe deposit level? I have tried out Cart Connect and it bring in Deposit Transactions (order level) and links them to the approriate Sales Receipt in Quickbooks, but it doesn't allow me to identify which Deposit transactions are grouped as a bank deposit. One deposit could be $1,500 made up of 45 orders.
Has anyone figured out a resolution to this?
On a monthly basis we reconcile Stripe activity to Quickbooks. We use Excel and iif Creator, so after organizing the data (categorizing and summarizing the transactions), we can export to QB in a single action.
I've spent quite a bit of time getting it to work and am continually refining the system - it is tailored to our business. Beats the heck out of trying to enter every payment.
Yes, Shopify is a Bank Account in QB. Sales are done with QB Sales Receipts. Payouts are done with QB Transfers. Withdrawals from Bank Acct (to cover refunds) are done with QB Credit Memos. I usually deduct the Stripe fees on the QB Sales Receipt.
We don't use Stripe to process Shopify purchases - as I recall, it is significantly cheaper to use Shopify for CC processing - the rates were pretty much the same, but if you use Stripe, you pay an additional fee to Shopify.
Thanks for the reply.
We have a web-only plan, so I don't think Better Reports is available to us.
The fact is that we are a small non-profit which sells a book via Shopify. This has worked out great for us, but there is one problem with the default reports - there is not a single report that has the payout date with associated charges/fees AND the number of items sold. This causes extra time in our monthly accounting. But since we only have one product and low volume, it is not onerous.
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Our integration collects data from your payment gateways and booking your orders as paid to your accounting system. We can also custom integrate different VAT settings via account numbers facilitating it in your accounting system.
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|09-18-2019 05:41 AM|
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