Business Payments: Payouts feature

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Business Payments: Payouts feature

*for Stripe and Square only

In order to simplify the reconciliation process in QuickBooks, we have introduced the Payouts feature available to all Stripe and Square users.

Enabling Payout synchronization in Business Payments allows you to automate syncing data for the payments you receive in Stripe/Square and the withdrawals you make from it into your checking account.

Select your checking account in Payout settings of Business Payments to get reconciliation-ready matches of payments and deposits in your For Review list in QuickBooks Banking, thus reducing the reconciliation process to 1 final step: your personal QuickBooks security check on already imported and matched data.

Enabling Payouts:

  1. Open Business Payments Settings, Payouts tab. Select “Yes” for “Process payouts”.
  2. Select your Checking account into which you deposit actual funds from Stripe/Square in Transfer Funds To.

* Disclaimer: we strongly suggest to only use your actual checking account for recording payouts. Use a “Stripe/Square Bank Account” for synchronizing Stripe/Square sales and fees. Learn more about our suggested way to set up accounts here.

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  Note: If the payouts setting was disabled, the app ignored Payout type transactions, so they are not in the transactions list. The app will import automatically ongoing Payouts. However in order to get old payouts to the app, please follow these steps:

  1.  Make sure the payouts setting is enabled.
  2. Go to Import Old Transactions tab on the left hand side menu, and select the time frame needed.
  3. Click Import.

Only after that, the Payout transactions will appear in the Transactions list in the app and will be available for synchronization.

Do you have any questions? We would love to hear from you. Send an email to the address specified in the footer of this page or use our in-app online support chat.
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