Reconciling your Stripe Custom payouts to your RGP Stripe Reconciliation reports. After that, you'll be able to pull the correct RGP Journal Entry reports for accounting.
Before beginning the reconciliation process, make sure your integration settings are set to accept the correct fees. To check, go to Data Entry > Manage > Settings > Integrations > Adjust Stripe Journal Entries for Fees/UTC. Make sure the top three boxes are checked off like this:
Step 1: Go to payments.rockgympro.com and click on your Payouts tab. Select the date range you'd like to reconcile and download/export the .CSV file.
In this example, we are reconciling the payouts deposited on February 21st and 22nd, 2022. The far left column shows the amount of each payout, totaling $5,496.46.
Step 2: Open the .CSV file downloaded in Step 1. Column F shows when each transaction within each payout was created. So the payouts from February 21st and 22nd contain transactions from February 16th-18th, 2022. This will be the timeline we use for our RGP reports.
Step 3: Open Data Entry > Reporting > General Reports > Stripe Payment Reconciliation Report
Apply the date range of the transactions involved within the payouts.
Note: because Stripe batches out at midnight UTC, it's best practice to reconcile larger date ranges. Within the date range, you will typically begin with the first day's transactions from 7pm - 11:59 pm, and end with the last day's transactions from 12 am - 6:59 pm.
You'll see that the RGP Stripe Reconciliation Report (see image below) splits the dates by midnight UTC (when Stripe batches out each day) and that the $190 charge on the 16th is listed with the other transaction from the 17th. Although this transaction was made in the facility at 4:08 pm on the 16th, that's actually 1:07 am UTC on the 17th.
As seen in the green box, our net is $6,519.96. We'll subtract the $413.66 from the first half of the first day and the $609.84 from the second half of the last day. $6,519.96 - $413.66 - $609.84 = $5,496.46.
If you ever have amounts that do not match up, it could be because:
- you need to push the date range you're reconciling out another day. The United States has a 2 business day payout schedule, while other regions average 3 business days.
- of refunds listed on the last part of the last day. For example, if there was a $50 refund on the last day and your balance is $50 off, subtract the refund. Unlike charges, refunds settle immediately and will appear in the next available payout.
Reconciling RGP Journal Entries for QuickBooks Transfers
To reconcile the RGP Journal entry report, select the date range for February 16th - 18th. You'll add the UTC Split 2 from February 16th (second part of the first day), both deposits from the 17th, and the UTC Split 1 from the 18th (first part of the last day). The first split was accounted for on the previous payout, while the last split will be accounted for on the next payout.