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Community > Small Business >

Selling online courses with Stripe

Started by Zsolt Cseszak -   in Small Business

Hi guys!

I am new to Xero, so I need some help, please.

My business sells online courses, several every day. Payment is handled with Stripe. Stripe then makes bulk payments in to my bank account every few days.

How to do the accounting for this?

I can make Zapier create a paid invoice in Xero every time there is a Stripe charge, but do I need to make Zapier create a new contact for every one of these new customers?

Also, how to handle these bulk payments from Stripe?

Could a xero specialist assist me how to set this all up please?

Thank you,

Hello 👋,

The first thing you would need to crease invoice in Xero from stripe (you can do that with zapier)). You can create a unique customer each time, that's up to you in case you would like to get into Xero and find paid invoices by a client.

Once invoices are in Xero, you will need to apply the payment you received from Stripe (that one bank deposit) among all the invoices that this deposit related to minus the merchant fees.

And that's it pretty much.


Michael P  

Thank you for your reply.

Trouble is that Stripe deposits lump sums, not individual payments by customers to my bank account.

When Stripe deposits a lump sum I cannot see for who that is.


Zsolt Cseszak  

In stripe go to balance >payouts there you will find all the deposits. Once you click on them you will see names of people and all their other info

Michael P  

then I need to match these in Xero?

Zsolt Cseszak  

Yup exactly - you will then go into your bank reconciliation and click match. You will select all the invoices that match up for that batch deposit as per stripe. You should have a difference between all the invoice total and stripe batch deposits. That's the stripe merchant fee.

You will see at the bottom of the match screen it gives you an option to adjust and there you select Bank Fee. The vendor would be a stripe; account would be whatever bank you designated as stripe fee account. The amount would be the difference between all the invoices and the actual batch deposit.

Michael P  

Thank you very much! Works great!

Apparently there is a way to do this automatically with a Stripe "bank feed" but not sure how...

Zsolt Cseszak