Bank reconciliation

Every Stripe payout should arrive in the bank as one line, for exactly the payout amount. Reconciliation checks that it did, and gives the bookkeeper a place to sign each match off.

When to use this

At month-end, with the bank statement open, or any time the bookkeeper is matching bank lines in QuickBooks.

Match, never add

In QuickBooks, the bank feed shows each Stripe deposit. The sync has already posted a Transfer for each payout, for the same amount on the same day.

• Match the bank line to that Transfer.
• Never Add it as a new deposit: that would count the gifts twice.

The figures at the top of the page confirm the total: Paid payouts should equal Bank (Stripe lines), and the Difference must be $0.00. 1060 Stripe Clearing shows what's still on its way.

Sign off a match

The Matched list shows each paid payout beside its bank line.

1. Select Sign off beside a payout, or Sign off all to sign off every open match at once.
2. Check your name or role under Signed off by, and the date.
3. Add a note if it helps, such as "Matched to the bank statement ending 31 Oct".
4. Select Mark reconciled.

The payout now shows Reconciled with your name and the date. Undo removes a sign-off made by mistake.

Unmatched items

• Not in the bank yet lists payouts that are still in transit or money still in the Stripe balance. These are expected for a day or two, not problems.
• A payout with no bank line after a few business days, or a bank line with no payout, is a real exception. Check the dates and amounts, and ask the finance lead before changing anything in QuickBooks.

Good to know

• Sign-offs are a record of who checked what, and when. They don't change anything in QuickBooks.
• In the sandbox, sign-offs are saved in your browser only.

Top tips

• Reconcile weekly rather than monthly in the busy seasons; fifteen payouts are easier to check than sixty.
• Write the statement's end date in the note when you sign off a batch of matches. It makes next month's start point obvious.
• If Difference isn't $0.00, look at Not in the bank yet first: a late payout explains most gaps.