Blog

I've made some payments but they don't match up on my bank statement. Help!

Now you've taken a few card payments you will want to work who has paid, or if anyone still owes you money, especially if you are taking deposits.

As you are reading this we are working an 'at a glance' amount deposited vs payments which make up this amount, and also upload to your payments into popular accounting programs like Sage, Quickbooks and Xero for easy bulk reconciling. This is usually done at the end of each month by your bookkeeper or accountant.

Currently, our card processing partner, Stripe, bundles up your day payments. As an example if you take two payments in one day, a £62 payment and another £93 card payment then you will get paid £150 into your bank account 7 days later. What you will want to do is work out who has paid what and who owes you money.

In the short term this is what you need to do;

On your PC or Mac open a Web Browser (Chrome, Safari or Explorer) then login to your Stripe account with the same username (email address) and password as your SmartTrade account.

Click on 'Transfers' (red arrow), then under 'Past Transfers' click on the Amount nearest the date you think it was paid. 'Past Transfers' is money that has been paid into your bank account. 'Future Transfers' haven't been paid yet. In this example we are clicking on £150 on 4th February;

Now look at the Gross amount. This is the Invoice amount you collected by taking a Card payment or Paylink;

This matches up with the Invoices you took payment for;

Also remember if you are expecting £100 and you paid the transaction fee with the 'Don't pass through fee' you will get £100 less the 2.65% + 20p charge you are paying, so you will get £97.15

If you chose 100% option you will get £100.

If you chose 50% you will get £100 - 1.35% + 10p which equals £98.55

Please note: You cannot use Stripe directly to take payments via their website. You will get blocked by Stripe.

And ... Stripe are also working on printing the Invoice reference on your Bank Statement to make it even easier.

Next article

comments powered by Disqus