Sage Cloud Accounting - Stripe Fees

[SHARPYWAN]

Hi,
I'm a little confused as to how to deal with stripe payment processing fees in Sage.

We are a cafe/play centre, so we set ourselves up as a customer (debtor) and all card payments and cash paid into our bank get posted to customer (us) and each month we journal our monthly sales to the customer (us) too. At the end of each month, the only imbalance on the customer (us) is money not yet hit the bank, so usually just 2/3 days worth of takings.

Anyway, recently been using Stripe for online payments.
So gross sales are posted to the customer (us) and then Stripe fees are posted as a cost to supplier/creditor (stripe) as they invoice us monthly for their fees.

So questions are
1) how do i clear the balance on the creditor (stripe) as there is no payment from the bank for these invoice amounts, as they are just taken off our gross sales.

2) my customer (us) has a credit balance, which i just can't fathom - not sure if this is related to the stripe fees? basically means more money has been paid into the customer than sales value taken, which seems odd

Any help greatly appreciated
Thanks

 

[Scalloway]

I would set up Stripe as a bank account, then

1. Gross sales entered on Stripe as a Bank Receipt
2. Net payment by Stripe credited to business bank account by Transfer when they are received
3. Payment for Stripe fees debited to Stripe charges as expense from Stripe bank account.

 

[Spur Support Services]

As Scalloway says, although with Xero accounting software, you would simply link your Stripe account and it would perform the postings for you.

If Sage Online doesn't have this integration (and it should), then change software.

Seek support from your accountant as they may be able to advise on the best for you.