Overview
Stripe fees are easiest recorded as a Journal Entry and combined with the successful cash settlements in a transfer as a deposit in Accounting Seed.
Note: The Stripe integration to Accounting Seed supports multi-currency credit card transaction processing. ACH transaction processing is limited to USD.
Find Stripe Fees
To find the fees per transfer in the Stripe website navigate to Transfers under the Transaction section of the side menu.
By entering the Transfers section you will see all successful transfers between Stripe and your linked Bank Account.
By clicking on one of these transfers you will see all payments associated with that transfer along with the total fees, for example, the -$365.59 below:
On your Bank Statement, you will see the transfer amount net the Transfer Fees. This is why it is important to create a Journal Entry to smoothly clear your stripe deposit on your Bank Reconciliation.
Create a Journal Entry to Record the Stripe Fees
Once you have gathered the Stripe fees total from the Stripe Transfer to your bank, you are ready to create the Journal Entry to record the Stripe fees.
A Credit should be recorded to the Bank Account that Stripe is transferring the payment to for the total fee amount of the transfer and a Debit should be recorded to an expense GL Account for the Stripe fees. Once this step is completed, the final step is to associate this Journal Entry Line that is crediting your Bank Account.
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Deposit with Stripe Cash Receipt & Stripe Fee Journal Entry Line
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Once you associate these two items, your Bank Deposit will match the deposit on your Bank Statement and you can smoothly reconcile your Account.
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The deposit in Accounting Seed now matches the transfer from Stripe.
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