Reconcile individual payments (NOT Bank Statement)
We receive payments from online services (stripe and paypal) and programmatically add an invoice as well as a payment for the invoice and the fee from the charge.
When the bank charge comes from the bank we go in and manually match them with the payments. With PayPal this is easy because they come in and match 1:1 with the payments and fees. With stripe it's not so easy becaue our daily payout contains dozens of fees and charges.
We would like to programmatically match these. Note that this is NOT the same as reconciling a bank statement, I think many are confused by this post: https://xero.uservoice.com/forums/5528-xero-accounting-api/suggestions/2884040-reconcile-via-the-api
All I need is the the ability to grab the payment that came in (transfer) from stripe or paypal, and then match it to the payments and fees (add one or many related ID's ).
Jason McArthur commented
We at Bitcurb can help with this especially the 1 to many scenario. Please reach out to us if you are still struggling with this, we would love to show you how we can help. https://bitcurb.com/
Owen Conti commented
Being able to read / GET the incoming feed and what was unreconciled would be all I need for now - I just want to add a way to provide a proactive notification (email) that alerts someone to go in and manually reconcile things.
I guess the Synder app can be helpful for you on this point. It helps to record individual transactions from Stripe, etc. into Xero automatically and also records payouts from Stripe to help on reconciling. Let's say you have a payment in Stripe then the app creates an invoice + payment for it as well as bill + payment for Stripe fees. Once Stripe transfers funds to your real bank account the app does the same but in your books. It records payout as a transfer from your clearing account into your checking account. So as the result, your bank feed will be prematched. You can have a look at this guide to see how the system work https://synderapp.com/help/reconcile-checking-bank-account-in-xero-with-synder/
Ray Antonino commented
Sadly the folks at Xero know this and have offered virtually no support in wanting to resolve.
Instead, we are stuck with crappy solutions like bankfeeds.io and synderapp.com and others.
It's so frustrating that we left Quickbook wherein there was no issue, only to pay to convert data into Xero, then to immediately hit this roadblock and have to pay another third party (ongoing).