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Journal Entry Preferences

This section allows you to specify the preferences to add journal entries to e-conomic. Journal entries can be created for Stripe transactions to record the payment made by the customer, fees and payout to your bank account. This helps in end-to-end bookkeeping ensuring that each entry is updated in the corresponding journal and accounts selected below, along with the specified text.
Note: Journal Entries can only be configured when you are creating a booked invoice under Invoice Sync Rules.

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Create journal entries

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Bank Payouts
Where should payments from Stripe to your bank be recorded?
  • Select payout account: [Dropdown of e-conomic accounts]
  • Customize text: [Text field]
Why this matters: This tracks the actual money deposited into your bank account from Stripe.
Processing Fees
How should Stripe’s processing fees be recorded?
  • Select fee account: [Dropdown of e-conomic accounts]
  • Customize text: [Text field]
Why this matters: This helps you track all fees charged by Stripe for processing your sales.
Refunds
Where should refund transactions be recorded?
  • Select refund account: [Dropdown of e-conomic accounts]
  • Customize text: [Text field]
Why this matters: Keeps track of all refunds issued to customers.
Adjustments
Where should adjustment amounts be recorded?
  • Select adjustment account: [Dropdown of e-conomic accounts]
  • Customize text: [Text field]
Why this matters: Records any adjustments Stripe makes to your payout amount.
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Understanding the Process
When a Stripe payout occurs:
  1. The system automatically creates all relevant journal entries in real-time
  2. Each transaction type (payout, fee, refund, etc.) is recorded in your selected accounts
  3. Entries include your custom texts plus transaction IDs for easy tracking
Tips for Success:
  1. Choose clear, distinct accounts for each transaction type
  2. Make sure your e-conomic chart of accounts is set up before configuring these settings
  3. Review your first few automatic entries to ensure everything is recorded as expected
  4. Need help selecting the right accounts? Consult with your accountant or financial advisor to ensure proper categorization.