Registering Transactions From a Different Platform

JKCWSJKCWS Member Posts: 13

Part of mu business is providing hosing etc. which is managed on another platform. This platform automatically invoices my customers and bills them using stripe.
At the moment I am unsure how I should record these transactions in wave.

As stripe pays these into my bank account then it isn't overly difficult to just tag them all as income for hosting, but this doesn't make it very easy to track what invoice that money came from.

There are two ways I can think of but i don't know which would be best and invite anyone to comment!

If i were to create a zapier action to add every stripe payment into a money in transit account and then create a journal transaction when the payment goes into the bank. This would allow me to add the details into the notes as to what that renewal was. It would also allow me to register the fees automatically.

The only issue with this is that I use stripe for wave too so am i going to get the stripe payments from wave added in again?

The other way would be to export the invoices as a csv from my other platform and upload them but then the fees etc would need adding manually.

Comments

  • BarsinBarsin Administrator Posts: 1,777 admin

    Hey there @JKCWS

    I do believe that the best way to account for these would be the latter method by documenting the invoices and the transactions. You're correct when you say you will have to split the transaction fees manually unfortunately, but this is definitely the most ideal method for your bookkeeping as I'm sure your accountant would also agree with this!

  • JKCWSJKCWS Member Posts: 13

    Unfortunatley being a sole trader running a small business I don't have an accountant at this time which is why I love the support people are able to give on here!!

    How would you recommend the best way in achieving this then? So i am able to export all of my incoice transactions as a csv file OR I can download in bulk the physical pdf invoices created on that platform. What would the easiest way be to then import them in bulk into wave. There is no import button on the invoice page. Would i just go to transactions and do it as upload a bank statement?

    I suppose this is the same as any web store, how would one record the payments from a webstore in that way. Would all of the sales from the web store be brought in as an invoice?

    edited July 17, 2020
Sign In or Register to comment.