Data reconciliation with Stripe reports
Learn how to reconcile Revenue Recognition data with other financial reports.
You can reconcile the cash account from Revenue Recognition and the Balance change from activity report within the same month. Because Revenue Recognition focuses on revenue-generating activities, you must exclude fees, network costs, contributions, and financing paydowns from the Balance change from activity report before reconciling. To get the cash amount in Revenue Recognition, download the balance sheet report in the summary format.
Note
The balance sheet report doesn’t take corrections into account. If there were corrections issued for the month for which you’re attempting to reconcile reports, you must also consider the Revenue Recognition corrections summary reports for all subsequent months. Any corrections that would have been booked to the original_ of the reconciliation month must be factored into the Revenue Recognition cash amount.
Example
As an example, the balance sheet report might look like the following, with a 100 USD amount:
| account | currency | net change |
|---|---|---|
| Cash | usd | +100.00 |
| Cash | eur | +15.00 |
To get the cash amount in the Balance change from activity report, set the currency to USD, and the report timezone to UTC.
After downloading the report in the summary format, it might look like the following:
| reporting category | currency | gross |
|---|---|---|
charge | usd | +140.00 |
refund | usd | -40.00 |
refund_ | usd | +20.00 |
partial_ | usd | -20.00 |
fee | usd | -10.00 |
network_ | usd | -10.00 |
contribution | usd | -10.00 |
financing_ | usd | -10.00 |
total | usd | +60.00 |
The total gross amount excludes some Stripe fees. After deducting rows for additional Stripe fees, network costs, contributions, and financing paydowns, the calculated cash amount is 100 USD.
Journal entries
The journal entries in the Debits and credits report don’t consider fees, network costs, contributions, and financing repayments. However, you can use Stripe fees in your Revenue Recognition reporting to create journal entries for these items.
Note
To enable Stripe fees support in Revenue Recognition, create a ticket on our support page. When you enable this feature, the journal entries in the Debits and credits report automatically incorporate fees, network costs, and contributions.
With Stripe fees enabled, you can do the following to reconcile Revenue Recognition fees with the Balance change from activity report:
- Download the Balance change from activity report in the summary format. Make sure you select these columns: Reporting Category, Gross, and Fee.
- Calculate the total fee by summing the values in these columns:
- Gross column: fee, network cost, and contribution
- Fee column: total
In the following example, you calculate the total fees: -1000. to get the sum: -1001..
| reporting category | gross | fee |
|---|---|---|
charge | 100.00 | -4.00 |
refund | -100.00 | 3.00 |
platform earning refund | -0.10 | 0.00 |
fee | -1000.00 | 0.00 |
network cost | -0.50 | 0.00 |
contribution | -0.40 | 0.00 |
total | -1001.00 | -1.00 |
If you download the Debits and credits report in the summary format, you can see 1001. debited from the Fees expense account and credited to the Cash account.
| debit | credit | amount |
|---|---|---|
| Fees | Cash | 1001.90 |
Note
The debits and credits report doesn’t take corrections into account. If there were corrections issued for the month for which you’re attempting to reconcile reports, you must also consider the Revenue Recognition corrections summary reports for all subsequent months. Any corrections that would have been booked to the original_ of the reconciliation month must be factored into the Revenue Recognition cash amount.