Bookkeeping · Square, Stripe and payment processors
Reconciling Square, Stripe & PayPal Sales in Your Books
If you take card payments, your bank deposits will rarely match your sales. Processors keep fees, hold funds and batch payouts. Getting this right is what makes retail, restaurant and online-service books actually accurate.
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Matthew Coleman, QuickBooks ProAdvisor, accounting and finance degree. Cranford, NJ. Start with a free health check of your books. You get a quote after we review your books, before any work starts.
Good fit for
Who Square & Stripe suits
- Retail shops, restaurants, salons and service businesses taking cards
- Online sellers using Stripe, Shopify Payments or PayPal
- Owners whose reported sales do not match their deposits
What we do
Bookkeeping in Square & Stripe
- Recording gross sales, fees, refunds and tips separately
- Reconciling processor payouts to bank deposits
- Setting up sales tax collected as a liability
- Handling chargebacks and held funds
- Monthly reports that show true sales and true fees
Before you commit
What to watch for
- Recording only the net deposit hides processing fees and understates sales.
- Sales tax collected on card sales is a liability, not income.
- Payout timing causes month-end differences. A good reconciliation explains them.
Software plans and prices change often, so check the provider's current details. MCC Solutions is independent and not affiliated with the software companies named on this site.
FAQ
Square, Stripe and payment processors questions
Why don't my deposits match my sales?
Processors deduct fees, hold reserves, subtract refunds and pay out in batches. The books need to record each piece.
Can you connect Square or Stripe to my accounting software?
Yes, through the processor's connections or an import, depending on your setup.
Are you affiliated with these companies?
No. MCC Solutions is an independent firm.
Helpful guides
- New Jersey sales tax for small businesses
- How to reconcile a bank account (and why it matters)
- What to send your bookkeeper each month: a checklist
Other software
See what we build on top of Square & Stripe: bookkeeping dashboards and the 1099 contractor dashboard.
Do it yourself
Chart of Accounts and QuickBooks Import Pack
Start your books with an account list built for your type of business, instead of the generic default, and compare it with the accounts you already have.
See what's inside ($24)14-day full refund
Free tool
Payout reconciliation calculator
Check whether a Stripe, Square or PayPal deposit matches its sales, refunds, fees and disputes, and get the entry that books it. It runs in your browser and nothing you enter is saved.
Open the payout reconciliation calculator