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How do I record a stripe transaction in Essentials

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Sonia77
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How do I record a stripe transaction in Essentials

How do you record stripe transactions in Essentials?  This is the primary method of payment by customers.  Invoices are not sent and are used to also record the commission portion of the sale.  When we're paid by Stripe fortnightly it's often for 5 or 6 sales. So this also means that all of the fees are deducted as a single amount.  

 

How do I initially process the payment made by the customer? 

How do I record the fee (s)? 

Do I have to set up a holding account?  (accountant said this was not necessary as the software should recognise the transaction and allow for reconciliation... it doesn't) 

Will I have to import all of the stripe payouts as csv files?         

And how does this transfer to the invoice as paid?  

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MYOB Moderator Stuart_W
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Re: How do I record a stripe transaction in Essentials

Hi @Sonia77

 

I would like to extend to you a very warm welcome to the MYOB Community Forum. I hope you find it a wealth of knowledge.

 

You could probably have a look at our help note for Setting up and receiving payments through PayPal  which would be much like processing payments from Stripe. Please note that this help note advises to put the payments against a PayPal Bank Account. In order to be able to match the Essentials bank feeds to this transactions your would be required to do a transfer from the PayPal clearing account to the bank feeds bank account, at which time you will be able to match the transactions. 

 

You shouldn't need to import any of the Stripe transactions as a CSV as long as they come through on the bank account which you have linked to your bank feeds. As stated above, simply do a transfer from the PayPal clearing account to your bank feeds account when the time comes to be able to match the transactions.

 

Finally to pay the invoices simply pay for them against the PayPal clearing account as set out in the PayPal help note above.

 

Please do let me know if you need any further help at all.



Kind Regards,

Stuart W
MYOB Client Support
Sonia77
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Sonia77
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Re: How do I record a stripe transaction in Essentials

Thanks Steve, 

Crystal clear now Smiley Happy 

PassionfruitAUS
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Re: How do I record a stripe transaction in Essentials

Hi Stuart

I also am facing the same situatuon woith MYOB Essentials and Stripe.  We are using Stripe as the credit card portal for a website that sells membership to our association and I want to be able to import the Stripe transactions once a week and then be able to match them to our Members and send out Tax Receipts.  

 

The link shown below doesn't take me to where it is intended - it goes to Credit Terms which is not relevant.

 

Are you able to assist further please?

Thanks

MYOB Product Team Haydes
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Haydes
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Re: How do I record a stripe transaction in Essentials

Hi @PassionfruitAUS

 

Sorry for the delay in answering your post.

 

I noticed the support note link does go to the wrong place, in which case here is the link to the relevant support note Stuart talks about: Setting up and receiving payments through PayPal

 

Please also note you can also search "paypal" on our Support Note search (help.myob.com) for Essentials to retrieve the same information.



Cheers,

Hayden
MYOB Product Team
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