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Stripe to QuickBooks Integration using Synder

Shawheen Amirkhizi • Jun 29, 2021

What is Stripe and Why we need to connect to QBO? 

Stripe is a payment gateway for recurring billing and online payments. It is ideal for subscription and e-commerce business to accept payments from around the world. Many e-commerce business owners use Stripe as one of their payment gateways. Therefore, it is important for these businesses to categorize their stripe transactions in their accounting system properly. This is why we explore the connection between Stripe and QBO. There are various apps available to connect Stripe with QBO. Such as "Stripe by Sush.io" , "Stripe by Commerce Sync", and Synder. In this article we will explore the integration of Stripe with QBO using Synder. 

First, navigate to Settings and select Add payment platform

First, navigate to Settings and select Add payment platform

From dropdown list select Stripe as Payment Platform click Connect, and follow the prompts to connect to Stripe.

From dropdown list select Stripe as Payment Platform click Connect, and follow the prompts to connect to Stripe.

Set the "Synchronize automatically ongoing transactions" to OFF, then you can proceed without having to set everything correctly in this small dialog box. If you do not set this to OFF the Synder application will automatically sync all new transactions, so you should first test your settings before turning this on! 

Click "I'm ok to start

Click

You should be redirected to the Settings screen where you can choose Configure next to the Stripe platform

You should be redirected to the Settings screen where you can choose Configure next to the Stripe platform

Start with the General Tab and continue with each tab below general to complete the Stripe integration settings

Start with the General Tab and continue with each tab below general to complete the Stripe integration settings

Under the Sales Tab select bank account as Stripe Bank account where sales receipts, refund receipts and payments will be deposited and select Payment Method as Stripe. The "Stripe Bank" will act as a clearing account, and should be reconciled periodically. 

Under the Sales Tab select bank account as Stripe Bank account where sales receipts, refund receipts and payments will be deposited and select Payment Method as Stripe. The

Under the Product/Services Tab make sure set to on Get product name from a description in the Stripe charge and select the appropriate income account under Product Income Account.

Under the Product/Services Tab make sure set to on Get product name from a description in the Stripe charge and select the appropriate income account under Product Income Account.

Under the Fees Tab select the Bank/Credit account to which Stripe fees are applied. Under Category select the appropriate Stripe Fees expense account

Under the Fees Tab select the Bank/Credit account to which Stripe fees are applied. Under Category select the appropriate Stripe Fees expense account

Under the Payouts Tab make sure that Process payouts is set to Yes and select the bank account where Stripe transfer funds.

Under the Payouts Tab make sure that Process payouts is set to Yes and select the bank account where Stripe transfer funds.

Once you have connected Stripe with Synder and saved all of the relevant settings, you can proceed to sync your transactions from Synder to QBO. 

 

Go to Transactions in Synder. You will see Sync status as Ready to Sync under each transaction type and Click Ready to Sync and Sync from the dropdown list. 

Each sync costs money, so we recommend syncing just one of each transaction type to start. 

 

The Sync status will change to Synced. Next select Show Details

The Sync status will change to Synced. Next select Show Details

Here you can see the Sync details, select Show in to open the corresponding QBO item. 

Please notice this synced transactions contains funds transfer to bank account from Stripe. 

Here you can see the Sync details, select Show in to open the corresponding QBO item.  
Please notice this synced transactions contains funds transfer to bank account from Stripe.

Once the Payout transaction is synced in Synder, you will be able to see and Match these transactions in the corresponding bank account. However, if you have more than one transfer with same amount with two different dates you need to select find match and select relevant transfer amount based on date of transfer. Typically Stripe transfer deposited in bank account after two days from the transfer date. 

Once the Payout transaction is synced in Synder, you will be able to see and Match these transactions in the corresponding bank account. However, if you have more than one transfer with same amount with two different dates you need to select find match and select relevant transfer amount based on date of transfer. Typically Stripe transfer deposited in bank account after two days from the transfer date.

Now that you have tested each transaction type, and ensured the data is properly flowing into QuickBooks Online, you can navigate back to your Synder settings and enable "Sync automatically ongoing transactions". This will enable Synder to automatically synchronize your future Stripe transactions. Some things of note, are Tax settings and multi-currency settings. These have not been touched on in this article as they did not pertain to this particular client. However, these are common issues and may need to be addressed, or re-evaluated periodically. 

 

If you like the power and flexibility of Synder, your not alone. We have created some other articles covering other payment platforms and sales channels using Synder. Check out our other blog posts for more information on these integrations. 

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