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gilded idolBOT Nov 17, 2022, 1:16 AM

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sand blaze Nov 17, 2022, 1:17 AM

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hello! can you share more about your question?

sick drum Nov 17, 2022, 1:20 AM

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Howdy 🙂

We are migrating to a new billing method and are having some issues with Xero reconciliation.

We currently have a custom billing system that charges CC/DD directly thru the bank, and in addition to this some clients paying by invoice where we utilise a Xero<>Stripe integration to put the "pay now" button on Xero invoices - Xero reconciles these paid by Stripe automatically (including any fees/etc) which is the goal.

What we are implementing is using our custom billing run charge CC/DD via Stripe manually by creating PaymentIntents, which will then send the Stripe Payout daily to our bank account. Xero seems to be struggling reconciling this, and as we will eventually be charging ~2000 clients this way we want the reconciliation to be as automated as possible.

I believe the automatic matching may be having issues due to the Payout coming in as a lump sum containing multiple payments, and the total Payout figure being minus any Stripe surcharge and currency exchange fee.

Do you have any experience on best practices on how to get this working?

sand blaze Nov 17, 2022, 1:23 AM

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unfortunately i don't really have any advice on this. If Xero is struggling to reconcile this, perhaps the first step would be to reach out to them for suggestions. We don't really have a lot of insights into how Xero works i'm afraid

sick drum Nov 17, 2022, 1:38 AM

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No worries I'll reach out to them too

I have found mention of a "Stripe Direct Feed" (every Stripe Transaction + Fee) and from what I can tell it just lets Xero know about every Stripe Transaction + Fee

I'm thinking with that setup and me adding the surcharge to the PaymentIntent charge the fee + charge will equal the invoice total, and then it may be able to join the dots and reconcile

Do you have any insight into if that's how the Stripe Direct Feed works? Or link to the Stripe documentation of this?

sand blaze Nov 17, 2022, 1:43 AM

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i've not heard of the term "Stripe Direct Feed", is this a Xero term?

sick drum Nov 17, 2022, 1:45 AM

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Yeah from the Xero help docs https://central.xero.com/s/article/Stripe-direct-feeds?userregion=true#Howitworks

To connect a Stripe feed, first add a new Stripe bank account in Xero, then follow the prompts to activate the feed.

Once connected, Stripe starts automatically importing your transactions.

When a payout occurs in Stripe, transactions appear in Xero depending on your Stripe payout schedule and region (Stripe website).

Payment transactions display as two statement lines, one line shows the gross amount and the other line shows the Stripe fee. To distinguish between local and international transactions, the country associated with the charge displays in the description of the transaction.

sand blaze Nov 17, 2022, 1:50 AM

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sorry, i really wish i can help more, but all I can find about that is the article from Xero too 😓

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