As a Stripe merchant importing transaction data into QuickBooks desktop has the potential to save you a great deal of time from doing tedious data entry and give you more timely and accurate picture of your accounting and business performance. Having a clearer picture to who owes you money and what inventory you have at your disposal.
There are a few options available depending on whether you are using QuickBooks desktop or QuickBooks Online these include built-in connections inside QuickBooks Online or exporting an IIF file format for QuickBooks Desktop. These methods which are largely simple and inflexible are sufficient for some users but others report significant issues to do with data mismatching and incompleteness of data transferred and hence the need to find a more optimal solution.
Things to consider before importing
Before you start importing transactions there are some decisions that you will need to consider to ensure that the data is imported in the most efficient and accurate way. These are:
- What file format will suit the information that I need for example will the IIF format with less data suffice or should I import and full data file such as the CSV.
- How to match the name of the product or service that was sold to the name of the Inventory or Service item in QuickBooks
- What type of transactions you want to record, ie Sales Receipts, Deposits, Credits, Refund Checks to match the types of transactions exported from Stripe such as Payments, Payouts, Fees or Refunds
- How the discounts and fees they should be recorded - do you want to record on the Sales transaction or record as a Check expense?
- How to handle multi-currency transactions, if you are using multi currency in QuickBooks?
Advantages of using Zed Axis
Whilst it the list above may seem daunting, Zed Axis has the flexiliblity and advanced features to provide a solution to many of these when importing Stripe transactions into QuickBooks desktop. In summary these are:
- Gives you more control over what is imported and how it is imported
- Imports historical transactions with ease.
- Powerful features like search and replace, join columns, modify existing means your payments data is more complete and accurate
How to export Payment data from Stripe
Follow these steps to export the Payment data from your Stripe account:
- Once logged into the Stripe Dashboard select the Payments menu
- On the Payments page click the Export button
- You can then choose the date range and the columns that you want to export, we recommend exporting all columns. Once you have made the selections click the Export button
- Save the downloaded payments file to a folder on your PC.
How to import your Stripe Payment transactions into QuickBooks Desktop
Follow these steps to import your Stripe Payment transactions:
- Open Zed Axis and connection to your QuickBooks desktop company file
- Click the import tab and browse to the stripe payments file that you downloaded in the steps described above.
- Select the option to create a new mapping (you will only need to do this the first time), choose the type of transaction you would like to import in the sample mapping below we have used a Sales Receipt.
- You have a number of advanced features to manage the way that you import the Stripe transactions into QuickBooks, you also can choose to update address and contact details in QuickBooks, skip if the transaction already exists in QuickBooks.
- Finally, click the import button to commit the import directly into your QuickBooks company file.
Column in Stripe Payments file
Customer Ref Full Name
Customer name ( you can also use as constant
as "Stripe Sale")
Date that the transaction occurred
Sales Receipt Number
Reference for the sale
Item Ref Full Name
Name of the item or service sold
Quantity of the item sold
Unit price of the item