To reconcile your sales, you’ll need to reference your Payment Collected (column AB) within your Transactions Report and tie it to your Stripe payouts. There are two key reports to help you match this information. First, let’s start in your Tock Dashboard.
The Sales reports refer to revenue generated from sales on a specific date or over a customizable date range. For example, if you released bookings on January 1st, 2017 all the way until April 30th, 2017, you’ll likely see that your sales spiked on New Year’s Day. Even though the actual bookings are a week (maybe even a couple months) away, those payments are counted as sales on 1/1/17. To sum it up, Net Sales = the sum of all the payments from your booking site and dashboard - refunds. Sales are not to be mistaken with income. Whether you are looking to record sales on a daily basis or compare sales month over month, your Tock sales reports will help you pull the sum of payments collected on the platform.
1.) Transactions report
Stripe deducts their processing fees before payments from Tock are deposited to your bank account. For this reason, the best report to use is the Transactions report since it’s a transaction report which itemizes all payments generated from bookings (as well as processing fees and refunds). You’ll be able to select the date or date range by clicking on the date picker in the top left-hand corner of the report.
Once the report generates, click the ‘Download’ button (top right-hand side of the page). The report will download as a CSV file that you can easily import to Quickbooks. Please note the columns titled Payment Processor ID and Payment Processor Refund ID. These columns are what we’ll use to match Tock transactions to the correct batch of payouts made from Stripe to your bank. Within these columns, you’ll find unique IDs that either start with ‘ch_’ (charge) or ‘re_’ (refund), followed by a long string of numbers and letters. These IDs serve as Stripe’s unique payment identifiers and are what we’ll use to match payments and payouts within Stripe.
2.) Stripe Balance report
Since Stripe takes 2 business days to process payment, the date of the sale will not mirror the date Tock payments were transferred to your bank account. The cut-off time in Stripe for payouts is 12:00am UTC. This means that payouts after 12am UTC will roll into the next day, so if your restaurant is in New York and someone buys a ticket to your restaurant at 8:01pm on January 1st, it will not be included in the bulk of transfers from 1/1/2018. Because of this 2 business day processing period, you will need to marry payments within the Sales Details Report to their corresponding payouts in the Stripe Balance report.
To access the Balance report, login into your Stripe Dashboard and visit the section titled ‘Payments’ on the left and then select ‘Balance’ (to the right of Disputes, as seen below).
When this report generates, it will give you a complete list of all your transactions from the most recent to the oldest. The transactions will include all payments, refunds, and payouts.
The next step will be to download this report. The downloaded report contains all the pertinent information to reconcile sales with your Detailed Sales report. Feel free to filter by date, among a few other variables, by selecting ‘Filter’ in the upper-right corner.
Once you have downloaded the Balance report, you’ll be able to see the ‘Source’ ID and ‘Transfer’ ID per transaction. You’ll want to match the Payment Processor ID and Payment Processor Refund ID from Tock to the ‘Source’ ID, found in column C, within Stripe. (Again, these IDs either start with ‘ch_’ or ‘re_’, followed by a long string of numbers and letters.) You will note that all delivered transfers have an ID, but upcoming transfers do not. For this last bit of information, you will have to look at the Payouts overview. The Converted Amount (Column G) should match the Payment Collected Amount (Column AB) from the Sales Details Report.
3.) Payouts Overview
To access the Payouts overview, login into your [Stripe Dashboard] and select the ‘Payouts’ tab on the left. This should take you directly to the overview, where you can see past payouts as well as payouts that are pending/in transit.
Scheduled payouts (upcoming transfers to your bank) will be listed first. When you click into a scheduled payout you’ll be able to find the unique payout ID (see below). These IDs start with ‘po_’, followed by a long string of numbers and letters.
Recording your expected payouts will be the last step in closing your books on sales.
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