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Reconciling Stripe Payments in Xero

Last updated 20/03/2019

This article will provide you with detailed information about how to reconcile Stripe payments in Xero. 

Important Information

  • Expect the following to occur when the Cin7 payment portal feature is enabled
    1. The invoice within Cin7 will import to the accounting software as an individual transaction.
    2. A separate payment transaction will need to be manually imported to your accounting software by clicking on the Import Payment Portal Payment Transactions in the Xero module.
    3. In Xero, the Payment Portal Payment Transaction will automatically reconcile to the related Cin7 invoice.
    4. The Payment Portal Payment Transaction will be imported to a clearing account. The Payment Portal Payment clearing account is specified in the Cin7 - Xero Integration settings.
    5. When the stripe payment appears on your Xero bank feed this will need to be allocated to the clearing account.
    6. A manual journal will be required to account for the stripe fees (Please note the stripe fees are deducted prior to the funds being deposited into your bank account)

Configuring and Understanding Cin7 Payment Portal:

  1. Configure your payment portal settings. Please refer to our Payment Portal help documentation.
  2. Understand how the Payment Portal and Xero integration works.

How to reconcile Stripe payments in Xero:

  1. Click here for information about how to reconcile bulk payments in Xero.
  2. To verify payments within Cin7 to the payments received in Stripe. Export the “Payment Portal Payments and Fees - incl comments” report from Cin7. Then Export the list of payments from Stripe.