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Mirela M
July 15, 2021
Solved

Stripe Duplicates bank transactions

  • July 15, 2021
  • 2 replies
  • 0 views

Hi, wonder if i could get some help or advice with our problem. 

We have a bank feed set up for our account so transactions are being imported into QB automatically through the live bank feed. 

Back in November an app was linked to accept payments online. The customer receives a link with the invoice to make the payment online (not via BACS). As soon as the customer pays, the invoice shows as paid and a manual transaction  is being added to the main bank account. This is a problem, because the funds are not really received in the bank account, these funds are still with Stripe. To add extra work to the problem when the funds are transferred Stripe stops a fee .. so the amounts don't really match. Furthermore, the invoice shows as paid .. it's really hard to fish-out which transactions have been duplicated out of the hundreds of transactions going monthly through the bank. 

Has anyone encounter the same issue or do you have any advise on how to stop this from happening going forward 

 

Many thanks 

Mirela M

 

Best answer by Ethel_A12

Hello there, @Mirela M.

 

I appreciate you sending us a screenshot of the transactions as it will help us understand better your concern. Let me share some insights about the duplicate transaction that you have. 

 

Based on the screenshot, it may cause a problem matching the transaction since the amount from your Bank in Quickbooks does not match the transaction from your actual bank statement.

 

You need to have a bank account for each payment portal that you have. Or you can also set the payment portal to undeposited funds. That way, it will be easy for you to deposit the amount to the right account. 

 

Here's how to create a new bank account:

 

  1. From the left menu, click Accounting. Then, select Chart of Accounts.
  2. Click the New button to create a new account.
  3. In the Account Type dropdown, select the account type.
  4. From the Detail Type dropdown, select the detail type that best fits the transactions you want to track. 
  5. Create a name for the new account. You can use the Detail Type description to create a name that describes what you're tracking.
  6. Make sure the account in QuickBooks matches your real-life bank or credit card account. Choose when you want to start tracking your finances.
  7. Under the Balance field, enter the amount in the account, and determine the as of date. Enter today's date if you want to start tracking immediately.
  8. Fill in the other necessary fields. Then, click Save and Close.

 

Additionally, I'd recommend you checking about accepting card payments with PayPal app FAQ for more tips.

 

You can always reach out to me if you need anything else about accepting payments. I'm here for you. Have a good one.

2 replies

E
EmmaM
July 15, 2021

Hello Mirela M, Thanks for reaching out to the Community. We can certainly look into a way to stop this duplication from happening.What is the app that you linked to accept the payments Online?

M
Mirela MAuthor
July 15, 2021

The following apps are connected 

Go Cardless fro QuickBooks 

Online Invoice Payments - Stripe, PayPal + more
 

 

E
EmmaM
July 15, 2021

Hi Mirela, So the end game would be for the payment in the bank to be matched to the payment allocated by the Paypal app that app should allocate the fee from Paypal. If the payment is for the full amount in Stripe that should match the invoice, would you be able to provide some screenshots of an example so we can look at this in more detail?

E
Ethel_A12Answer
July 16, 2021

Hello there, @Mirela M.

 

I appreciate you sending us a screenshot of the transactions as it will help us understand better your concern. Let me share some insights about the duplicate transaction that you have. 

 

Based on the screenshot, it may cause a problem matching the transaction since the amount from your Bank in Quickbooks does not match the transaction from your actual bank statement.

 

You need to have a bank account for each payment portal that you have. Or you can also set the payment portal to undeposited funds. That way, it will be easy for you to deposit the amount to the right account. 

 

Here's how to create a new bank account:

 

  1. From the left menu, click Accounting. Then, select Chart of Accounts.
  2. Click the New button to create a new account.
  3. In the Account Type dropdown, select the account type.
  4. From the Detail Type dropdown, select the detail type that best fits the transactions you want to track. 
  5. Create a name for the new account. You can use the Detail Type description to create a name that describes what you're tracking.
  6. Make sure the account in QuickBooks matches your real-life bank or credit card account. Choose when you want to start tracking your finances.
  7. Under the Balance field, enter the amount in the account, and determine the as of date. Enter today's date if you want to start tracking immediately.
  8. Fill in the other necessary fields. Then, click Save and Close.

 

Additionally, I'd recommend you checking about accepting card payments with PayPal app FAQ for more tips.

 

You can always reach out to me if you need anything else about accepting payments. I'm here for you. Have a good one.

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