Hi there, @Anette.
When using SquareSpace as your ecommerce platform with Stripe as the payment gateway, it's essential to ensure that your sales details from SquareSpace and the fees charged by Stripe align with the actual Stripe payouts you receive.
To reconcile this information accurately in QuickBooks Online (QBO), you can follow these steps:
SquareSpace Sales Details:
- Utilize the SquareSpace Connector to import your sales details into QBO. This connector can help you bring in your SquareSpace sales transactions, including order information, customer details, and sales amounts.
Stripe Fees:
- To account for the fees charged by Stripe for each transaction, create a separate expense account in QBO for Stripe fees. When recording your sales transactions from SquareSpace in QBO, ensure that you also include the corresponding Stripe fee as an expense.
Matching Transactions with Stripe Payouts:
- To match your transactions with the Stripe payouts you receive, you can reconcile your bank account in QBO with the actual Stripe deposits. Stripe payouts typically include the aggregated sales amounts minus fees, chargebacks, and refunds.
Reconciliation Process:
- Regularly reconcile your sales data from SquareSpace, fees from Stripe, and Stripe payouts in QBO to ensure accuracy. This process helps you verify that all sales transactions, fees, and payouts align correctly.
By following these steps and maintaining accurate records in QBO, you can effectively reconcile your SquareSpace sales details with Stripe fees and payouts. If you encounter any challenges or need further assistance in setting up this reconciliation process, feel free to reach out for additional guidance.
Feel free to reach out to us at anytime you have questions related to QuickBooks Online banking. Thanks.
