In this guide you will learn how to reconcile Stripe transactions synchronized by Synder app on the Checking account in your Xero company. There are two ways to do it:

1. Reconcile Stripe transactions in Xero using Payouts feature (more accurate and automated)
2. General flow to reconcile Stripe transactions in Xero

1. Reconcile Stripe transactions in Xero using Payouts feature (more accurate and automated)

Also, you can reconcile Stripe transactions in your Xero Checking account in just a few clicks using the Payouts feature in Synder.

1) How to sync your Stripe Payouts to Xero

Synder automatically records all of your individual sales transactions into a clearing account (Stripe Bank Account) created by default in a Chart of Accounts in Xero. Once Stripe transfers the money to your actual bank, Synder will automatically create a Transfer (Payout) from Stripe Bank Account into your Xero Checking account. So the only thing left for you to do when reconciling will be to click OK (Match).

Follow these simple steps to record your Stripe Payouts to Xero for quick reconciliation:
1. Go to Synder Settings
2. Click the Payouts tab and set the switcher to Yes
3. Select the Checking account you need from the dropdown
4. Click Update

Once you have enabled this setting, sync your Payouts just as you sync your regular Stripe payments, and proceed to Xero.

2) How to quickly reconcile Stripe transactions in your Xero Checking account

Open your Checking account in Xero and start reconciling:
1. Search for the Stripe transfer you want to reconcile (it usually contains the word Stripe)
2. See it highlighted green on the Match tab
3. Click OK

We promised it will be quick: you do not have to create anything manually to finally match the bank statement line, or use the Find & Match search – Synder has already done this job for you.  

Useful tips on reconciling Stripe transactions in Xero

·   After you reconcile all of the payouts, your Stripe Bank Accouтt balance should be equal to your actual Stripe balance.

·   To reconcile your Stripe Bank Account, use the reports from your actual Stripe account and upload them into Xero manually.

BACK TO SYNDER 


2. General flow to reconcile Stripe transactions in Xero

The overall flow is this: Synder synchronized all the individual Sales transactions into the clearing account (Stripe Bank Account) and then transfers the amount equal to the Bank Deposits into your Checking account for quick reconciliation

The steps are very easy and are listed below, make sure you have opened your Checking account  under your Chart of Accounts in Xero and then follow the steps:

  1. Find Stripe transaction you would like to reconcile (the description of it usually contains “Stripe”) and switch to the Transfer tab
  2. Select Stripe Bank Account (clearing account used by the Synder app)
  3. Click OK to confirm the transfer of the specified amount from Stripe Bank Account to your checking
  1. Do the same 1-3 actions for each Stripe transaction in your checking account.

That is it, all your Stripe transactions are ready for reconciliation! 

Notes:

  • After you finish with all the transfers your Stripe Bank Account balance should be equal to your actual Stripe balance
  • If you would like to reconcile Stripe Bank Account as well, use the reports from your actual Stripe account and upload them using Xero “upload bank statement” option
  • If you would like to automate the process of reconciliation even more, check out this guide to enable the Payouts feature in Synder app settings (this will create transfers from Stripe Bank Account to your Checking automatically). 


BACK TO SYNDER 

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