Recording Stripe Fees Using Stripe Payouts in QuickBooks

Here is an example we'll be using:

Example

Stripe deducts $12.40 in processing fees and deposits $412.60 into your bank account.

When the Plannit integration is configured to record payments directly into your QuickBooks bank account, Stripe processing fees can be recorded when each payout is reconciled.

Step 1 – Review the Stripe payout details

In Plannit, open Reports and select the 'Plannit Pay Payment Reconciliation Report'. Locate the payout matching the deposit received in your bank account. Keep the gross amount, Stripe fees and net amount. You may also use your Stripe Dashboard to identify the fees for each payout.

Step 2 – Match the payments included in the Stripe payout

In the Transactions section, select the first Stripe deposit, click Match, then check all payments included in that payout. If a difference is detected, enable the Correct option so the Stripe fees can be recorded automatically.

Step 3 – Record the Stripe fees

Select the expense account you use for Stripe processing fees and enter the fee amount as a negative value (for this example: -$12.40). Then click Match.

Step 4 – Verify the deposit total

The deposit total should equal the amount received in your bank account: Selected payments: $425.00; Stripe fees: -$12.40; Deposit total: $412.60.

Step 5 – Repeat

Repeat Steps 2 through 4 for each Stripe payout.

When the Plannit integration records payments to the Undeposited Funds account, Stripe fees can easily be recorded when creating each bank deposit. Payments remain linked to their invoices until the bank deposit is created.

Step 1 – Review the Stripe payout details

Open the Plannit Pay Payment Reconciliation Report and locate the payout matching your bank deposit.

Step 2 – Create a Bank Deposit in QuickBooks

In QuickBooks, click + New, then Bank Deposit. Select the bank account that received the Stripe payout.

Step 3 – Select the payments

Check all payments included in the Stripe payout. The total must match the gross amount reported by Stripe.

Step 4 – Add the Stripe fees

In the Add funds to this deposit section, add a line with: Received From: Stripe (optional); Account: Stripe Processing Fees; Amount: -$12.40.

Step 5 – Verify the deposit total

The deposit should total $412.60, representing $425.00 in payments less $12.40 in Stripe fees.

Step 6 – Save the deposit

Click Save and Close. The payments will be removed from Undeposited Funds and the deposit will be recorded in your bank account.

Best Practices

Create one QuickBooks bank deposit for each Stripe payout.

Always use the same expense account, such as 'Stripe Processing Fees'.

Bank reconciliation will be easier because the QuickBooks deposit matches the actual bank deposit.

Once completed, invoices remain fully paid, Stripe fees are recorded as an expense, and your bank deposits accurately reflect the amounts received from Stripe.