[GNC] Small business accounting importing transactions

[Robert Slippey]

I might be miss-understanding and I'm not quite sure if you're saying my
understanding wouldn't work, but wouldn't these amounts be hard numbers.

Each transaction would, I would think, be pretty straightforward.
Stripe = the holding account in gnucash
Credit stripe for the sale, Debit the fee (Credit to expense account),
Debit stripe for the deposit and credit the checking account

I might be over or under thinking this.

thanks again as always

On Wed, Nov 27, 2019 at 9:22 AM Christopher Lam <christopher.lck at gmail.com>
wrote:

> I think every Gnucash importing tool whether CSV QIF or OFX will try hard
> to match the amounts first and foremost.
>
> The only 'fuzzy' amount matching that is currently allowed is the
> so-called "ATM Fees Threshold" in Preferences which takes an absolute
> number (e.g. $2.00).
>
> On Wed, 27 Nov 2019 at 14:05, rwslippey <rwslippey at gmail.com> wrote:
>
>> Thanks for the reply that's what I figured. Bringing in each transaction's
>> fees seems like it would be difficult utilizing an outside invoicing
>> system.
>> Trying to avoid the repetitive data entry, if at all possible.
>>
>> I've been through the process with desktop versions of Quickbooks before.
>> Creating an account for stripe, depositing the sale amount there, then a
>> transaction fee from that account, then transfer to the real bank account.
>> It just becomes a lot of extra work and caused errors in the past. Even
>> today Quickbooks doesn't handle this well and I had to get a third party
>> provider to manage these transactions and put them in with QB online.
>>
>> I'm curious if the below would be feasible.
>> Create the holding account (as alluded to above) Import from bank account
>> to
>> collect real deposits, import transactions from stripe (including fees),
>> and
>> line everything up?
>>
>> So step one would be import stripe lining sales transactions up to the
>> appropriate income account. Line fees up to the expense account. Import
>> bank, line stripe income up as a debit from the strip holding account and
>> a
>> credit to the checking (as sort of a transfer)
>>
>> Did any of that make any sense or should I go get another cup of coffee?
>>
>>
>>
>>
>> Christopher Lam wrote
>> > The proper way would be to include stripe's cut as part of each sales
>> > transaction.
>> >  Income:Sales -$100
>> >  Expense:Stripe Fees +$1.50
>> >  Asset:Bank +$98.50
>> >
>> > The easy way would be to count each sale net of stripe's fees, and the
>> > accountant would use stripe's statements to determine gross sales and
>> > stripe's cut, and verify net sales match your statements.
>> >  Income:Sales -$98.50
>> >  Asset:Bank +$98.50
>>
>>
>>
>>
>>
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>