Stripe bulk payment - creating duplicate income

FpalFpal Member Posts: 1

Good day Wave community, probably an entry level question, here is the scenario:

My business model currently includes an Online Event Registration provider that captures attendee information, availability etc, and which uses Stripe as a payment gateway

My Event Registration provider currently allows me to capture each Client registration in Wave as soon as the registration happens. I am currently splitting the amount paid by the client in two: Sale + Processing Fees (Stripe's fees). Each registration is captured individually from the Event Registration provider, providing great granularity in Wave...

Now, the issue I face is when Stripe sends a bulk payment (for the multiple registrations) to my bank account a few days later, as the total amount paid by Stripe is being added as a Sales amount, effectively doubling the income.

How should I address this? Is there a way to merge/offset the Stripe payment with multiple registration transactions as a way to avoid duplicate income? Any other/less manual approach?

Thanks in advance

Comments

  • SamdSamd Administrator Posts: 560 admin

    Hey @Fpal - not an entry level question at all. You can reconcile the the bulk deposit showing as a duplicate by doing the following:

    1. Navigate to Accounting>Transactions

    2. Locate the bank deposit

    3. For Account, select your bank account

    4. For Category, select "Transfer from Bank, Loan, or Credit Card"

    5. For the transfer origin, select "Payments by Wave" - this is where your Stripe payments should be landing, and is technically a Money in Transit account where funds are held until they can be cleared by a transfer (or just a general income account in situations where no bank is connected).

    This will correctly tell Wave that the deposit has landed in your bank account as a "Transfer" from Payments by Wave, and is not simply a second payment.

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