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I'm trying to work out the correct method of attributing payments on invoices that are automatically created after a user purchases something on site, payment handled by Stripe (or other payment gateway). Here is the current flow from user action to Xero interaction (all working fine):

  1. User purchases membership on site
  2. Payment is processed by Stripe on-site
  3. If payment is successful, an Invoice is generated in Xero (and a contact if it doesn't exist)
  4. Payment is added to the invoice immediately after it is generated, and it's status is set to Paid.
  5. Paid invoice is emailed to new member from Xero
  6. Stripe deposits money in nominated business account each day

I have two questions about this workflow

  1. What is the normal practise for dealing with PaymentAccount when applying a payment? Should we create a new payment account just for Stripe? A new "Bank" account for Stripe? The context of this question is selecting the correct PaymentAccount ID for the payment when creating the invoice.
  2. Will reconciliation still be possible for these paid invoices when Stripe sends payments (assuming they send itemised payments)? Even if the money is deposited in a different (Real) account integrated in Xero?

Thanks

Aaryn
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1 Answers1

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Your questions about stripe are more appropriate in Xero forums, since they are bookkeeping questions not API qestions. Stripe can provide a bank feed to Xero, and you should set this up. This means you have a Stripe bank account, which is the therefore the payment account. Payment reconcilations are easy (but can't be done via API).

The actual deposit of real money into a real bank account will be a consolidated amount typically called a 'settlement', typically one day of transactions, less fees, refunds and possible timing issues etc. The Stripe bank feed will have an entry for this. It is reconciled by a Xero user as a bank transfer between the Stripe bank and the real bank, and is nothing to do with the payment on the invoice.

Tim Richardson
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