Question

Stripe and Quickbooks

Forum|Forum|5 years ago
January 25, 2021
2 replies
37 views

My BIG question! :) I am currently setting up QuickBooks starting 1/1/21. Our company takes payment via Paypal, Stripe, and cash. However I do not want to use a third party to link anything into QuickBooks. Currently our bank is connected and our stripe deposits are brought in that way. My question is should I be creating invoices for my clients and if so how to I attach those stripe payments to them? I have went though the community but so far everything wants you to connect stripe to QuickBooks, because we are not a large company have yet another app is not right now necessary.

QuickBooks Online

Rustler

Level 15

Either an invoice or a sales receipt, then deposit the money

download banking and match

K

Klent

Level 8

Thanks for choosing QuickBooks as one of your partners in building your business, Tomacina.

I agree with Rustler. Ideally, it's recommended to utilize a third-party app to automatically record the transactions and close open invoices in your books. Since you don't want to use another app, you'll have to manually record the invoices and payments in QuickBooks Online. Here's how:

Click the + New button.
Choose Invoice.
From the Customer drop-down menu, pick a customer.
Set the terms and invoice date.
From the Product/Service column, select a product or service.
Enter a quantity, rate, and amount.
Click Save and send.

Once your customer pays you, record the invoice payments in QuickBooks Online to mark the invoices as paid. If you entered the payments in the Undeposited Funds account, you'll have to combine multiple transactions into a single record so it reflects your real-life bank activity. Then, categorize and match your online banking transactions with the payments you've already created in QuickBooks.

Lastly, I recommend visiting our Get Started page to help speed up the process of setting up one's own business in the program.

You can always visit the Community if you need additional assistance in accomplishing your other tasks.

M

MrsK01

Hi - That is my BIG Question too !!

Very similar set up - small business taking online product and service payments through stripe ( some paypal and cash too). HOWEVER I manually transfer my balance periodically from Stripe to my current business account. This works well ( I think? ) regards the Stripe fees as I can then just record the Stripe fees each end of month as an expense.

However I am just trying to set everything up also from 1/1/21

( I have a lot of BIG questions !!! )

I run a weekly sales report in Stripe for my sales....How do I then input these batch end of week sales into QB ? I just can't figure this out - do I set up Stripe like a bank account, with the sale of the item fee deposited into that account ? How to do this without making any duplications when I do a manual balance transfer also, this really has me baffled, I'd appreciate any help! Thanks :)