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Walk through of the steps to get Stripe up and running
To begin utilizing Bookkeep's automated journal entries for Stripe, you must connect the Stripe account where you would like to import the data. Below we will go step-by-step through the setup process to ensure you are ready to go!
1. First connect your Stripe account by visiting the Connections/Apps View from the left navigation and clicking "Add an app" to search for Stripe:
2. Clicking on Stripe will take you to the screen to actually connect. We give you the option to invite the account owner to connect if you do not have the credentials (this will send the owner an email to connect Stripe). Otherwise, if you have the credentials, click "Connect Now."
3. If you proceed with the immediate "Connect Now," a new window will open for you to log in to your Stripe account as shown below:
4. Once you have logged in to grant access to Bookkeep, you will see the Stripe account connected to Bookkeep in your Integrations:
5. Now that your Stripe account is connected to Bookkeep, you will need to complete your mapping to the accounts from your Accounting Platform (e.g. QuickBooks Online, Xero) which can be found on the Connections tab and clicking on "Setup" for Stripe to expand the dropdown to then "Map" the specific templates. You can click into each journal entry's mapping that you plan to utilize and map each journal entry line to enable the posting. After completing the mappings, you can set each journal entry you need to ON. This will activate a daily journal entry for each journal entry template that is turned on. We offer a sales summary daily journal entry, a fees journal entry, and a payout/deposit journal entry.
**Note: Stripe Sales and Fees journal entries should not both be set to ON. This will lead to duplicate fee postings. Utilize the Sales journal entry when Stripe is your source of truth for sales data. The Sales journal entry includes fees for processing those specific sales. Use the Fees journal entry when Stripe is processing your sales elsewhere (e.g. on a third party site) and, therefore, is not your source of truth for sales data. An example for when to use the Fees journal entry would be when Stripe is your payment processor on Shopify. In this case, Shopify would be the source of truth for sales data, and then Stripe would be the source for fee data.
6. Under the Setup dropdown from the Connections view, you can click into Stripe Settings where you should ensure that you select the correct time zone and end of day (this should be left as "midnight" to match the same 24h period in Stripe) for the account that you have connected. This will impact when we complete the next journal entry and ensure we are retrieving the right sales, fees, and deposit data for that time period:
**Note: The time zone in your Stripe account settings in Bookkeep MUST be the same as your time zone in the Stripe dashboard, in order to ensure all your entries are reflected properly in your accounting platform, including your beginning and ending balances. To find your timezone settings in the Stripe Dashboard go to "Reports" -> then click "Balance"
On the next screen you will see your internal Stripe timezone that should be used as reference:
7. Once you have mapped the necessary journal entry templates and set those you want to post daily to ON, you are good to go! You will see journal entries begin posting to your accounting platform the next day!