Stripe is brilliant. Xero is brilliant. But put them together and you can end up with a headache.
When it comes to seeing who has paid you from Stripe in Xero, it can be a little confusing, especially if you have multiple Stripe collection points (a number of online stores, payment buttons on invoices, direct debits etc).
A number of people we have spoken to have found themselves unable to reconcile their Stripe income and have lost countless hours attempting to do so.
Now, Xero does have a Stripe integration, but it is limited to the payment button added to Xero invoices, so it does nothing with all the other income you're getting in. Also, the integration doesn't pick up on refunds. And doesn't work if you use the manual Stripe payouts, not automatic.
But Xero has an amazing bank reconciliation function. If Xero could bring in a 'Stripe bank account', reconciliations would be a breeze.
Xero doesn't do this automatically - but you can set it up yourself in about an hour (with some basic Excel vlookup skills). Each time you want to refresh your 'bank feed' it will take about 10 minutes, but it’s time well spent. Watch the below video to see how it is done.
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