For businesses using Stripe to process payments, integrating with QuickBooks Online (QBO) can streamline accounting and bookkeeping. However, many merchants face the challenge of importing every Stripe transaction, which can overwhelm QuickBooks Online with hundreds or even thousands of individual payments.
The solution? Sync only daily payouts with QuickBooks Online using the Stripe connector, creating a cleaner, easier-to-manage accounting process. In this guide, we’ll cover QuickBooks Online Stripe connector settings, how to sync Stripe payouts without transactions, and tips to avoid importing every Stripe transaction QBO.
Why Sync Daily Payouts Instead of Individual Transactions
Stripe processes payments in real-time, meaning each customer payment is recorded as a separate transaction. If all these transactions are synced directly into QuickBooks Online:
- Your accounting dashboard becomes cluttered
- Reconciliation becomes time-consuming
- Reports may be inaccurate due to multiple fees applied per transaction
By syncing daily summaries or payouts, you can:
- Record total daily income as a single deposit
- Avoid tracking every small Stripe fee individually
- Simplify reconciliation with your bank deposits
This approach is ideal for businesses with high-volume Stripe transactions.
Step 1: Connect Stripe to QuickBooks Online
Before adjusting settings, ensure your Stripe account is connected to QuickBooks Online:
- Log in to QuickBooks Online.
- Go to Apps > Find Apps and search for Stripe.
- Click Get App Now and follow the prompts to authorize QuickBooks Online to access Stripe.
- Verify the connection by checking that Stripe data appears in QBO.
Tip: Use the same credentials for Stripe that you use for your business account to prevent connection errors.
Step 2: Configure QuickBooks Online Stripe Connector Settings
To sync only daily payouts, adjust your Stripe connector settings:
- Open the Stripe connector within QuickBooks Online.
- Navigate to Settings > Sync Preferences.
- Select Sync Daily Payouts Only or Summary Only (depending on your connector version).
- Choose the bank account in QBO where payouts are deposited.
- Enable skip individual transactions to prevent importing every Stripe payment.
This ensures QuickBooks Online records the total daily deposit, including any Stripe fees, as one transaction.
Step 3: Understand How Payout Summaries Work
When you sync QuickBooks Online Stripe daily summary, the connector imports:
- Total daily deposits to your bank account
- Aggregate fees deducted by Stripe
- Net deposit amount
This allows for simplified reconciliation because the daily net deposit matches your actual bank statement, eliminating the need to account for each transaction individually.Step 4: Avoid Common Sync Errors
Many users encounter errors when switching from transaction-level sync to daily summary:
- Duplicate transactions: Ensure previously imported transactions are archived or removed before changing settings.
- Incorrect deposits: Verify your Stripe payout totals match bank deposits.
- Partial syncing: Make sure the date range in the connector includes all unpaid or unrecorded payouts.
Pro Tip: Before switching, export a backup of Stripe transactions in CSV format for reference.
Step 5: Reconcile Daily Payouts in QuickBooks Online
Once daily summaries are synced:
- Navigate to Banking > Banking in QuickBooks Online.
- Select the account linked to Stripe payouts.
- Match the daily summary deposit to the actual bank deposit.
- Verify that Stripe fees are recorded correctly either as a separate expense or deducted from the deposit.
This ensures that your QuickBooks Online Stripe integration summary only approach aligns with your real bank activity.
Step 6: QuickBooks Online Stripe Bulk Transaction Handling Tips
For businesses switching to daily payout sync, here are some best practices:
- Archive old transactions: Prevent duplicates by removing previously synced transaction-level entries.
- Use categories: Assign Stripe payouts and fees to consistent income and expense accounts.
- Schedule regular reviews: Confirm all daily summaries match your bank statements weekly.
- Export summary reports: Keep a backup of payout totals and fees in case of audit or reconciliation needs.
These steps reduce bookkeeping errors and save time for accounting teams.
Step 7: QBO Stripe Integration Tips for Smooth Operations
- Test small batches first: Before syncing months of payouts, test a few days to ensure totals match.
- Enable automatic updates: Keep your Stripe connector up to date to prevent connectivity issues.
- Consult Stripe reports: Use Stripe’s own daily payout summaries to verify QuickBooks Online entries.
- Document procedures: Maintain a simple guide for staff to follow when reconciling Stripe deposits.
Following these QuickBooks Online Stripe integration tips minimizes errors and ensures accurate reporting.
Step 8: When to Call for Professional Help
Even with proper configuration, some businesses may face challenges syncing Stripe daily payouts:
- Deposits not appearing in QuickBooks Online
- Connector importing duplicate transactions
- Fees not recorded correctly in the bank account
For fast resolution and step-by-step guidance, contact QuickBooks experts at 866-798-4134. Professionals can help with:
- Configuring QuickBooks Online Stripe connector settings
- Setting up sync Stripe payouts without transactions
- Ensuring QuickBooks Online Stripe daily summary matches your bank
- Managing QuickBooks Online Stripe bulk transaction handling
Final Thoughts
Switching to daily payout syncing in QuickBooks Online using the Stripe connector is a smart strategy for high-volume businesses. It reduces clutter, simplifies reconciliation, and ensures your accounting aligns with your bank deposits.
By following these steps—connecting Stripe, configuring settings, syncing QuickBooks Online Stripe daily summary, and reconciling payouts—you can streamline your bookkeeping while avoiding the hassle of importing every individual transaction.
For expert help with QuickBooks Online Stripe connector issues, daily summary setup, or bulk transaction handling, call 866-798-4134. Our specialists can help you set up a clean, efficient workflow that saves time and reduces errors.