On 11/26/19 5:46 PM, Robert Slippey wrote: > Good evening, > > I'm a small business owner and been in business a few years. I'm sick of > Quickbooks and I'm considering going to GNUCash, mainly to simplify. I > looked at GNUCash many years ago but never looked too deeply at it. > > One consideration I'm concerned about is dealing with processing fees from > the likes of stripe. I don't have an interest in keeping customer data in > GNUcash and will only really use it for accounting. Invoices and payments > are managed by a third party invoicing software (specifically Invoice > Ninja) > > My question is, what best practices for dealing with the processing fees > exist? I receive the funds in the bank after they've removed the fee and I > was thinking just imputing a summary transaction in each month of the total > cost of the months transactions as a simple solution. No need to see any > further details. > > Do you have any further tips for moving over to GNUcash. I'll not I have no > intention of bringing over previous years, we'll be starting fresh with > GNUcash at the beginning of the year. > > Thanks > > Rob
Rob, I have a small Squarespace business that uses Stripe for processing the CC payments. I have automated the download of the orders and load those up into a SQLite3 database so I know the tax and shipping charges per order. I manually download the payments from Stripe to add in the processing fees. Several payments may be on each daily deposit (if I were only that lucky to have daily orders). I record in GnC the following: Asset:Bank:Checking -- Net amount deposited (Debit) Expense:Fees:Stripe -- Total Processing fees Stripe chaged for all sales that deposit (Debit) Expense:Cost-of-Goods-Sold -- My total cost of items sold (see Inventory side) (Debit) Income:Sales -- Gross sold amount (not including shipping and taxes) (Credit) Income:Shipping -- Amount collected for Shipping/Handling (Credit) Liability:State Sales Tax -- State portion of sales taxes collected (Credit) Liability:Local Sales Tax -- Local portion of sales taxes collected (Credit) Asset:Inventory -- COGS to deduct from Inventory (Credit) Note that this is per Stripe deposit and not per order. Several orders may be summed up for each deposit. I thought of summing up the entire week into one entry but that would get messy when the bank issues a statement mid-week. I wrote a sql statement to get all of these numbers from the database. I manually enter these into GnC. You could dump the output as a CSV and import it into GnC to further automate it. When I get to several orders each day, then I'll make that effort (including the automatic download of the payment file from Stripe). -- Stephen M Butler, PMP, PSM [email protected] [email protected] 253-350-0166 ------------------------------------------- GnuPG Fingerprint: 8A25 9726 D439 758D D846 E5D4 282A 5477 0385 81D8 _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
