Stripe Payments In Quickbooks?

[Polaflex]

I'm sure many of you are aware of Stripe & Quickbooks. I use QuickBooks Self-Employed online to keep track of my books. I'm a sole trader currently.

I have my Business Bank Account and Business PayPal Account linked into my Quickbooks, so all of my business transactions from those are pulled in so I can easily track them. However, I noticed that since I started creating Invoices from SimpleInvoices.io - When I was receiving client payments to Stripe, there's no real way to link my Stripe directly to Quickbooks to pull the transactions.

I know I could manually add these transactions to my Quickbooks, But I'm looking for the quickest solution possible. The stripe payments eventually appear into my Business Bank Account within 7 days of receiving a Stripe Payment, so the transaction appears on QuickBooks eventually, but it's just showing the money going into my Bank Account... so surely this is more of a receipt than a transaction?

As you can see the image attached, when these 2 transactions showed up on my QuickBooks, they were automatically tagged as a 'Transfer' in the category and not Business Income. So I simply switched it to Business Income. Then I plan on manually adding the Stripe Payment Fee onto my QuickBooks so I can claim Business Expense on that as a professional fee.

Image: i.imgur(dot.com)/NCMtB2y.png

Long story short, am I okay with continuing to track my Stripe Payments like this? Or should I get rid of them and manually add the transactions? On another note, the dates of these payments are when they arrived into my Business Bank Account, Should the dates be when I received the payment on Stripe's Dashboard.. or when it arrives into my account?

All help is greatly appreciated. Hopefully, I explained this well enough. I understand if someone wants to say 'Get help from an accountant' however I believe this isn't a hugely complicated issue so fingers crossed someone who has experience and knowledge within Stripe/Quickbooks can help me out on this one!

 

[Daugela]

There is an API connection within apps that enables automated import of stripe transactions to Quickbooks or you may just switch to Xero who enable direct connection to Stripe.

 

[Polaflex]

Thanks for your input Duagela, I would switch to Xero, but because I've already done one whole year on Quickbooks, I want to keep it streamline and continue that route. In terms of the API's.. sadly I can't find any that simply connect Stripe To Quickbooks without any other additional features, I don't invoice on quickbooks as I use third-party invoicing systems, so I'ts a bit tricky.. maybe I'll need to add all stripe fees manually

 

[Daugela]

You could always add fees manually, but it would be less prone to manual error if automated.
Have you considered switching the invoice provider?
I have seen that QuickBooks has "Invoice Payments by Bolt" within its app store and this enables the connection to Stripe. Otherwise, maybe you could order custom API on PeoplePerHour or some other freelancer platform? (just an idea)

 

[Polaflex]

Very true, I do appreciate your time Duagela. I have considered moving my invoicing system, but I'm in love with SimpleInvoices.io - It's just so sleek and seamless. I will actually look into the custom api! great call