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Albert C
Level 1

Stripe Payout contains a refund

How do I record a stripe payout, which includes 2 transactions: a payment & a refund? I have a payment ($158.90) that I want to match the deposit (in QBO).  It was also downloaded from bank.  The stripe payout has the $158.90 amount and the refund for a different customer for $92.29. Stripe Payout SS enclosed

Screenshot 2024-08-17 205745.jpg

1 Comment 1
ErwinQ
QuickBooks Team

Stripe Payout contains a refund

I'm here to assist you in recording the Stripe payment in QuickBooks Online (QBO), Albert.

 

You can integrate Stripe with QuickBooks using a third-party app called Commerce Sync. Once the synchronization is complete, all transactions, such as payments, refunds, and fees, will be synced automatically.

 

Payments can be recorded using either a sales receipt or an invoice. In this case, you can record two payments amounting to $100.00 and $63.95 to get the total payment of $163.95. Once done, create a refund of $92.29. Afterward, you'll need to match them into a single deposit and subtract the fees -5.05 and 2.68 by adding them to add funds to this deposit section. Then deposit it to Undeposited Funds to get the net deposit amount of 69.29, which can be a matching entry to the download transaction.

 

You can refer to this article on how to record a payment: Record an invoice payment.

 

Moreover, reconcile an account to ensure your financial records are always accurate.

 

Let me know if you have any further questions about managing payments in QBO. I'm always here to lend a hand.

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