If you use Stripe or PayPal in your business, you can add these as accounts in Pandle, and use feeds to keep your transactions up to date.
Sales which are received into these accounts will be processed and then later transferred to your current account.
To show you how it works, we'll use the example of a £1,000 sale from a customer who paid through Stripe, with a £30 Stripe fee, but the principle is the same whether you use PayPal or Stripe.
Sales received through Stripe
The first step is to process the amount through your Stripe account in Pandle, and categorise it as a sale.
In the 'Type' column select 'Money In'. Then, in the 'Category' column, select 'Sales'.
The next step is to process the Stripe fees in Pandle. In the 'Type' column select 'Money Out'. Then, in the 'Category' column select 'Stripe Fees'.
Money transferred from Stripe to your bank account
When you categorise your banking transactions you will see the amounts coming into your bank account from Stripe.
To process these transactions:
In the 'Type' column select 'Money In'. Then in the 'Category' column select your Stripe account.
Important: These transfers must only be processed in one of your accounts in Pandle, and then deleted in the other to avoid duplicating the transfer.
Your Stripe or PayPal balance in Pandle should always be the same as your Stripe or PayPal statement. Learn more about what to do if your balances do not match.