Scenarios

  • Your customers are making credit/debit card payments through Stripe

  • You are using Xero Accounting Software

  • You want to reconcile Stripe Payments

This document assumes you know the following.

  • You have a fully set up and functioning Enrolmy account for your activity.

  • You understand basic accounting principles.

Managing Credit & Debit Card Payments In Xero

This document covers:

  • Understanding the Stripe Payout Schedule

  • How to recognise Stripe Payments inside your Xero Account

  • How to reconcile Stripe Payments inside your Xero Account

  • The customer refund processes.

  • Debit card payment processes.

Understanding the Stripe Payout Schedule

  •  The Stripe Payout Schedule identifies the total amount of credit/debit card transactions that were made in a day.

  • The Stripe Payout Schedule also identifies the date that a day's transaction/s were settled in your bank account.

  • By clicking into a day where transactions were made, you can view the breakdown of all transactions made that day. The key information displayed to you will show;

    • the billpayer name

    • invoice number

    • activity paid for

    • the total amount paid

    • and the Stripe fee detail, per each transaction.

  • All credit/debit card payments made for programmes on Enrolmy, automatically reconciles the associated invoice.

How to Recognise Stripe Payments Inside Xero 

Stripe Payments will display in your Xero Bank Reconciliation section. These payments can be recognised as...

  • Direct credit: Stripe Payment

  • Stripe Payment

  • Enrolmy Payment

  • TRF

  • ENROLMY

  • STRIPE

How to Reconcile Stripe Payments Inside Xero 

  • As invoices are already reconciled inside Enrolmy when it comes to credit/debit card payments, there is no need to match Stripe Payments against their associated invoices.

  • However, you will still need to send the already reconciled invoices to Xero. To do this, you will need to carry out a Xero Sync. 

1. Carry Out a Xero Sync

  1. Click the + sign in the top navigation bar next to MONEY.

  2. Select Xero Sync.

  3. Log into Xero.

  4. Launch Xero sync.

  • All invoices inside your Enrolmy account, whether PAID, OUTSTANDING or OVERDUE; will now display inside Xero too with the same status.

2. In Xero - Code Your Stripe Payment/s

  • With no need to match the Stripe payment/s against an invoice, you will just need to code the payment to the EMY-CCSUSS account (or your own suspense account) 

  1. Navigate back to Xero

  2. Code the Stripe Payment/s into the EMY-CCSUSS account in Xero.

  • You will need to know how Enrolmy creates journals in Xero for you to manage these payments. Please click here to view how to manage Stripe payments in Xero. 

Congratulations! You now know how to reconcile Stripe Payments using Enrolmy & Xero!