How to reconcile Stripe payouts in Xero
Make every Stripe deposit in your Xero bank feed reconcile: a manual journal per payout for gross sales, fees and refunds, imported from a CSV built from your Stripe report.
The problem
Your Xero bank feed shows one Stripe deposit, net of fees and refunds, while your sales were higher. Reconciling it by hand means splitting each deposit across several accounts.
The approach
- Create a Stripe clearing bank account in Xero (or use a current-asset account) if you don't have one.
- Download Stripe's Payout reconciliation — Itemized report for the period.
- Drop it in PayoutSplit above, enter your Xero account codes under “Your account names and codes”, and check every payout shows ✓.
- Download Journal CSV (Xero) and import it under Accounting › Manual journals › Import.
- Each journal moves gross sales, fees and refunds so the clearing account nets to the deposit. Then reconcile the bank deposit against a transfer from the clearing account, or, if your bank account is used directly, match the deposit to the journal line.
Tips
- Xero imports manual journals by account code, so fill in the codes. PayoutSplit warns you if any are missing.
- Multi-currency Stripe accounts produce one journal per currency; they're never mixed.
- Add your bank CSV and PayoutSplit will show which payouts have a matching deposit and which are missing.
Need a bank file in OFX for Xero too? Our sister tool Bankfold converts bank CSV and Excel files in the browser.
FAQ
Doesn't Xero have a Stripe integration?
Xero's Stripe connection is for customers paying your Xero invoices online. If your Stripe income comes from elsewhere (checkout links, subscriptions, a store), a journal per payout is a simple way to record it.
Is it really private?
Yes. Your files are read and processed by JavaScript running in your browser tab; their contents are never sent over the network. You don't connect PayoutSplit to Stripe, PayPal, Square, Shopify or your accounting software, so there's no access to revoke later.
Which processors are supported?
Stripe (payout reconciliation itemized and balance change from activity reports), PayPal (activity download, English headers), Square (Transactions CSV and Transfers CSV) and Shopify Payments (transactions export). Bank files from any bank can be added for deposit matching.
What does a payout journal entry look like?
Debit your bank for the deposit, debit processing fees, refunds and chargebacks, and credit gross sales (plus sales tax and tips payable when the export has them). The entry always balances, and the bank line equals the deposit to the cent.
I already record sales another way. Will this double count?
Only if you leave Sales income pointed at your real income account. If your POS or store already books each sale, set Sales income to the clearing or Undeposited Funds account under Your account names — the journal then just moves the net to the bank and records the fees.
What if a payout doesn't add up?
When the export includes the payout row (Stripe balance report, Shopify, PayPal withdrawals), PayoutSplit compares it with the sum of the transactions. A difference is flagged and booked to the clearing account so you can investigate instead of importing a wrong number.
What's free?
Every export format for up to 10 payouts per download, one processor file plus one bank file at a time. No account needed. Pro removes the limit and lets you combine several exports and processors in one go.