Reconciliation of Undeposited Funds

Automatic Reconciliation

Your Stripe balance should closely match the balance in Undeposited Funds in Acodei. When a bank deposit matches your bank feed, reconciliation is automatic, negating the need for manual reconciliation.

Action Items for Reconciliation

  • Stripe Payouts: Ensure each Stripe payout matches a deposit in your QuickBooks bank feed. If payouts don't match Acodei-created deposits, your Undeposited Funds won't reconcile.
  • Avoid QuickBooks Rules/Auto-Adds for Stripe: These prevent matching and can lead to double-counted revenue.
  • Regular Bank Account Reconciliation: Verifies correct deposit matching and prevents double-counting.

Comprehensive Reconciliation

Visit Stripe's payout reconciliation report or payouts page to cross-reference Acodei data, ensuring accurate data matching.

Common Reconciliation Issues

  • Mismatches in Banking Feed: Ensure Stripe payouts are correctly matched to Acodei deposits. If errors occur, undo and rematch correctly.
  • Timing of Payouts: Stripe payouts include fees and other charges that are only captured upon payout, not daily. This timing can cause minor discrepancies.

Complex Accounting or Stripe situations

There are some situations where not using Undeposited Funds is recommended. To review our recommendations on choosing whether to use Undeposited Funds or a different asset account, view our Stripe Holding Account page.