Reconciling a payment via Stripe | lessaccounting

Reconciling a payment via Stripe

Step : 1 Navigate to your Invoicing dashboard by clicking Invoices in the top navigation

Step : 2 Raise an Invoice for your customer using Stripe as the Payment gateway

Step : 3 Customer pays Invoice in full via Stripe

Step : 4 Stripe charges a transaction fee and remits the balance into the bank account

Step : 5 Deposit is imported automatically via bank import into LessAccounting

Step : 5 Manually open the Deposit and apply the same against the corresponding open Invoice

Step : 6 Also record a new Deposit manually for the Stripe transaction fee incurred. Mark it as “Regular Income“ and apply the same against the open Invoice

** This will lead to the customer Invoice being closed / paid in full and also Regular income being recognized as the full amount of the Invoice

Step : 7 Record a new Expense manually for the Stripe transaction fee incurred, using the Expense Category “ Stripe Fees “ ( Please create a new Expense category using the Expense Category tab under Settings and add a Contact called "Stripe" to be used as the payee for recording Stripe Fee expense)