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Tracking Stripe Fees

Stripe's advertised fee is 2.9% and 30¢ per transaction.

Every Stripe charge for a given day is transferred daily, with each charge appearing on its own invoice line by identifier. All fees applicable to all charges that day are entered as an additional negative line on the invoice. Here is an example of what it will look like in QuickBooks Online with the Stripe Fees line at the top:

Stripe Fees, Expense Account

The Stripe Fees feature supports tracking Stripe Fees in an Expense account by default. Here is a sample similar to the one provided above, depicted in Xero. Here the Stripe Fees line is on the bottom:

Your Stripe charges are tracked in Stripe Sales, and the Stripe Fees are tracked in their own expense account:

This allows accurate, double-entry representation of your sales, fees, and the actual money you’ve collected all at once. In the Commerce Sync Dashboard, you will have the option of choosing between tracking Stripe Fees net income or in an Expense account. Selecting the latter allows you to choose which expense account:

 

 

 

 

 

 

 

 

 

 

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