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How to set up a Stripe clearing account in QuickBooks Online
How to create a Stripe clearing account in QuickBooks Online, what posts in and out of it, how to match the payout as a transfer, and a month-end check against your Stripe balance.
Published
Short answer: create a balance sheet account called Stripe Clearing (account type Other Current Assets, or Bank if you want to use QuickBooks' reconcile screen on it). Post gross sales into it, post fees, refunds and disputes out of it, and when the payout lands, move the money from Stripe Clearing to your real bank account. That bank line is a transfer, not income. At any point, the Stripe Clearing balance should equal your Stripe balance (money Stripe holds for you).
Steps
- Create the account: in QuickBooks Online, go to the Chart of accounts and choose New. Pick Other Current Assets as the account type (a common choice is the "Other current assets" detail type) and name it Stripe Clearing. Some bookkeepers use the Bank type instead so they can reconcile it against Stripe statements; both work. Don't use Undeposited Funds for this.
- Create the other accounts if you don't have them: Sales (income), Stripe Fees (expense), Refunds or Sales returns, Chargebacks and Dispute Fees.
- Money in: gross charges go Dr Stripe Clearing / Cr Sales (or Cr Accounts Receivable if the sale was already invoiced).
- Money out: fees go Dr Stripe Fees / Cr Stripe Clearing; refunds Dr Refunds / Cr Stripe Clearing; disputes Dr Chargebacks / Cr Stripe Clearing.
- Payout: Dr Business Checking / Cr Stripe Clearing. In the bank feed, match the deposit to this line instead of adding it as a new deposit, or record the deposit as a transfer from Stripe Clearing.
- Month-end check: compare the Stripe Clearing balance with your Stripe balance on the same date and time zone. If they differ, look for missing rows or a timing cutoff.
Worked example (illustrative numbers only)
Example: a month with 1,000.00 of charges, 32.00 of fees (made-up), a 50.00 refund and one payout of 868.00. 50.00 is still in Stripe at month end, waiting for the next payout.
| Entry | Journal | Stripe Clearing balance |
|---|---|---|
| Gross charges | Dr Stripe Clearing 1,000.00 / Cr Sales 1,000.00 | 1,000.00 |
| Fees | Dr Stripe Fees 32.00 / Cr Stripe Clearing 32.00 | 968.00 |
| Refund | Dr Refunds 50.00 / Cr Stripe Clearing 50.00 | 918.00 |
| Payout to bank | Dr Business Checking 868.00 / Cr Stripe Clearing 868.00 | 50.00 |
The 50.00 left in Stripe Clearing should match the Stripe balance on the last day of the month. If it does, the books tie out even though the bank received less than sales.
Common mistakes
- Booking the bank deposit as income. Sales are understated and fees vanish; see why your Stripe payout doesn't match your bank deposit.
- Double counting: a connector, POS or invoice payment already records the sale, and you add it again from a journal. Pick one source for revenue.
- Using an income or expense type for the clearing account. It must be a balance sheet account, or the month-end check doesn't work.
- Account names in your import CSV that differ from the chart of accounts; see the "account not found" fix.
Next step: export Stripe to QuickBooks as journal entries that post through this account.
Doing it faster: StripeClear Journal
StripeClear Journal is a single offline HTML file ($8 one-time). Drop in your Stripe balance transactions CSV and it builds one balanced QuickBooks Online journal per day, with a payout summary and an audit file. It runs in your browser; nothing is uploaded. It is a reconciliation helper, not accounting advice. Want to look at your data first? Try the free Stripe Payout Check.
Related guides
- Stripe dispute fee and chargeback: the journal entries in QuickBooks (won and lost)
- Why doesn't my Stripe payout match my bank deposit?
- Stripe refunds and chargebacks: how to book them
- Stripe refund fees: how to record them in QuickBooks
- How to export Stripe to QuickBooks as journal entries (one per payout or day)
- Why does my QuickBooks journal entry CSV import fail, and how do I fix it?
- How to reconcile Stripe payouts into a bookkeeping journal (QuickBooks-ready)
FAQ
What account type should a Stripe clearing account be in QuickBooks Online?
A balance sheet account: usually Other Current Assets, or Bank if you want to use the reconcile screen. Not income, expense or Undeposited Funds.
How do I record the Stripe payout in QuickBooks?
As a transfer from Stripe Clearing to your bank account (Dr Bank / Cr Stripe Clearing). Match the bank feed deposit to that entry instead of adding it as income.
Should the Stripe clearing account be zero at month end?
Not necessarily. It should equal the money Stripe still holds for you on that date. It returns to zero only if everything has been paid out.
Can I use the same approach in Xero?
The idea is the same (a clearing account that gross sales go into and payouts come out of), but the setup screens differ. This guide covers QuickBooks Online.
Check your own export for free
Drop a Stripe balance CSV into the free Stripe Payout Check to see per-category totals and whether every row ties out (gross − fee = net). It runs in your browser and nothing is uploaded.