If Stripe subjects you to a rolling reserve, learn how to manage your rolling reserve transactions and processing fees.
If you do not have a rolling reserve with Stripe, follow the steps below to track processing fees.
Step by step:
- In your Stripe account, download transactions for a set timeframe. Depending on your volume of credit card transactions you may want to perform this task daily, weekly, or monthly.
- In Guesty, create one journal entry for the total of all credit card fees in the same date.
- Credit card fees are a debit to cash, credit to Accounts Payable PMC.
- Create a group transaction that includes the journal entries you created, plus the relevant payment transactions from the check register, to match your bank statement.