The bank reconciliation summary in the Dashboard provides you with a summary of the activity affecting your Stripe balance and the corresponding payouts to your bank account. It provides you a breakdown of your activity, grouped by reporting categories, and connects it with the payouts made by Stripe and the cash received in your bank. This helps you understand the breakdown of the amount paid by Stripe and the corresponding cash that has been reconciled with your bank on a monthly basis. It also helps construct the revenue to cash breakdown required for your monthly close process.
The activity available in the bank reconciliation summary corresponds to the Balance change from activity report. This includes all activity that affects your balance, including charges, refunds, disputes, other adjustments, and fees during a month.
Consider the following example of a Stripe account which is on daily automatic payout, and has a payout speed of 2 business days with 8 days of activity. The account accepted payment with a value of 10 USD on January 28. Because the payout speed is 2 business days, these funds became available on January 30 and the first payout was processed to the bank account. For simplicity, assume there are no fees or other debits on these transactions.
|Date||Transaction||Payout||Received in bank|
|January 28||10 USD|
|January 29||30 USD|
|January 30||50 USD||10 USD||10 USD|
|January 31||70 USD||30 USD||30 USD|
|February 1||60 USD||50 USD||50 USD|
|February 2||100 USD||70 USD||70 USD|
|February 3||120 USD||60 USD||60 USD|
|February 4||100 USD||*|
* This example assumes that payouts aren’t credited into your bank on a Sunday, and therefore no amount is received on February 4 (which we assume to be a Sunday).
Given the above account activity, the bank reconciliation summary on February 4 would have the following data:
|Total payable ||Total||160 USD||280 USD|
|In transit||0||120 USD|
|Paid||160 USD||160 USD|
|Reconciled with bank ||Total||160 USD||60 USD|
|In the same month||40 USD||60 USD|
|In subsequent months||120 USD||0|
The information in the table above means that you had a total of 160 USD and 280 USD worth of transactions that were available to be paid into your bank account during the months of January and February respectively. For January, the complete 160 USD has been paid out from Stripe. Out of the 160 USD (all of which has been reconciled with your bank statement), 40 USD was received in your bank account in the same month that the transaction took place (January) and the remaining 120 USD was received in your bank account during subsequent months (February in this case).
For February, out of the total of 280 USD which was available to be paid out into your bank account, 160 USD has been paid by Stripe while the remaining 120 USD is yet to be paid out and is categorized as
In transit. Out of the 160 USD which has been paid, 60 USD is reconciled with your bank account, and the amount was received in the same month when the transaction took place (February). The remaining 100 USD is yet to be received in your bank account and is therefore categorized as