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Your Stripe payout, broken down in your books.

One Stripe payout is several days of payments, less refunds and Stripe's fees. Connect Stripe and Sumly books each part on its own line. When the payout reaches your bank, Sumly suggests the match.

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  • Fees kept apart from sales
  • Refunds reverse the right sale
  • Payouts matched to your bank

What it brings into your books.

Stripe collects the money, takes its fee and pays out the rest later. Sumly records each of those steps, so the same income is never counted twice.

  • Customer payments, recorded against the sales they pay. The VAT comes from each sale, never from the payout.
  • Stripe's processing fees, booked to Bank & Card Fees as a cost. Your sales stay at the amount the customer paid.
  • Refunds, linked to the sale they reverse, with the VAT reversed on the same code.
  • Money still waiting at Stripe, held in a payment provider clearing account. Its balance is what Stripe owes you.
  • Each payout, moved from that clearing account to your bank. Sumly suggests the match on the bank line and you approve it.

How to connect it.

Connect the bank first, so the first payout has a line to match.

  1. Connect your bank

    Add the account Stripe pays into on the Bank accounts page.

  2. Connect your Stripe account

    Link the company's Stripe account to your Sumly company. You do this once.

  3. Let the first payments arrive

    Sumly books payments, refunds and fees from Stripe, each on its own line. Look over the first few to see where they landed.

  4. Approve the payout match

    When a payout reaches your bank, Sumly suggests it on the bank line. Click Approve to record it.

Where it shows up.

Stripe and Sumly: questions

No. A payout is money moving from Stripe to your bank. Sumly records the sales, refunds and fees on their own lines and treats the payout as a transfer. Booking the payout as income as well would count the same money twice.

No. The VAT depends on what you sold and who bought it, such as a customer in Cyprus, a VAT-registered business elsewhere in the EU or someone outside the EU. Sumly takes the VAT from the sale. The Stripe payment only shows that the money arrived.

Some payments haven't been paid out yet, or Stripe is holding a reserve or a disputed amount. The clearing account shows that balance, so you can explain each amount at month end.

Sumly never edits a posted sale. The refund is an entry of its own, dated when you made it, so a VAT period you've already locked stays as it was.

Yes. Sumly matches each payout on the bank line it arrives on, so connect the account Stripe pays into. The bank feed is read-only and syncs several times a day.

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