The importance of Stripe fees

Posted on December 29, 2014 by Patrick Sheegog

"How can I separate my Stripe Fees in Quickbooks Online?"

This is what inspired the development of Stripe Pipe. A good amount of accountants and entrepreneurs came to us asking this question after failing to find a satisfactory solution through other third party providers. While there are plenty of integration options between Stripe and Quickbooks Online it’s tough to find one that gets Stripe fees separated accurately and consistently. With Stripe / Quickbooks Online themselves very occupied with other priorities we decided to help fix the problem. Stripe Pipe pulls your Stripe fees from each transaction and accurately places them in the Quickbooks Online account of your choosing. 

While working with these fees we’ve learned some things. One being that the Quickbooks Online server is set to a different timezone than the Stripe server so when you check your reports in Quickbooks you’ll find that the data appears off by more than a few transactions. Not only does the code need to be correctly written, it also has to effectively work with outside variables set by our partners. In response to issues such as timezone differences and questions regarding specific transactions we created a reporting system so that these fees can be tracked down to specific days and correlated to the correct transactions. This makes reconciling Stripe transactions easier for you and a less stressful day in the office (or coffee shop if you roll that way).

Fees aren't everything though, we’re also importing charges as journal entries and refunds as credit entries. This happens simultaneously and smoothly. If you’d like to get started, sign up for a free 14 day trial. If you like what we do it’s easy to upgrade your account and keep that sweet accounting data flowing.

Shoot me an email if you have any questions, we’ll be happy to help you out.