How to: Stripe Deposits
For those of you that are scratching your heads as to why reconciling Stripe Payments (for online bookings) is so difficult here's why and how to do it....
Why it doesn't make sense:
1) Stripe batches all payments on the UTC Time Zone (4-7 hours ahead of any US time zone)
2) Stripe deducts their fee from each deposit/transfer
These two things combined make it really difficult; a stripe deposit (UTC Time) may span two days (local time), and will never match amounts in any RGP Z-Out. You have to split up your z-outs so they can span two deposits and deduct the fee.
Here's how I do it (in Quickbooks):
Step 1: Make/Import Journal Entry from RGP Z-Out.
Step 2: Split Stripe amounts in Journal Entry if they span two Stripe days (split by UTC Time Zone).
Step 3: Create deposit from split amounts so that it matches Stripe gross amount, subtracting in Stripe Fee (as an extra line in deposit entry) so that it matches Stripe deposit total.
This can be confusing; you have to look at the Stripe report/export and it will give you the dates times amount and fees to help you sort it out. In general export the report to CSV, look at it in excel and create the split amounts.
Or better yet, there is a new report that RGP will have in the next update that gives you the split amounts.
-Tod | Edgeworks Climbing