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Here we discuss the types of journal entries available for Stripe
Bookkeep enables you to integrate your Stripe accounts to automate journal entry postings.
The three journal entry postings we automate with Stripe are:
- Fees
- Payouts (Deposits)
- Sales
The Fees journal entry posts to your accounting platform on a daily basis the fees from the prior day. This journal entry is useful where another system is your source of sales data and Stripe is the payment processor for those sales. An example would be a Woocommerce store with Stripe as the payment processor. This template would book the fees for those sales while Woocommerce would be the source of the sales data. This template should not be used in parallel to the Stripe Sales journal entry. See below for an example mapping:
The second journal entry we support for Stripe is the Payouts journal entry. This journal entry captures on a daily basis any new deposits coming to your bank account from Stripe. Your Stripe account balance is decreased any time there is a deposit to your bank account which is captured in this journal entry. See below for an example mapping:
The final journal entry we offer for Stripe is the Sales summary journal entry. This entry posts to your accounting platform on a daily basis the sales from the prior day. This aims to capture the gross sales down to the net sales including discounts, refunds, etc. This journal entry also captures the fees for processing these sales. This template should not be used in parallel to the Stripe Fees journal entry. See below for an example mapping:
If you have any questions regarding our Stripe journal entry templates, feel free to reach out to support@bookkeep.com.