Reconcile TaxDome Payments with your accounting software

If your firm uses QuickBooks Desktop, Xero, Wave, FreshBooks, Sage, or a similar platform, TaxDome Payments won’t sync to it automatically. You’ll need to record your payment activity manually—but the process follows a consistent pattern once you’ve done it once.

This article covers two approaches depending on how your firm recognizes revenue. Both end up in the same place: gross income recorded, processing fees expensed, and your bank balance matching your actual deposits. The difference is whether you record activity when a client pays or when the payout hits your bank.

Before you begin

You will need:

• Admin or bookkeeper access to your accounting software, with journal entry permissions
• Access to TaxDome Payments payout reports in the Stripe dashboard via Settings > Integrations > Payments or at dashboard.stripe.com

Choose your approach

• Path A—Payout-level (cash basis). Record one journal entry per payout when it hits your bank. Most small accounting firms operate on a cash basis—if that’s you, this is the correct method, not just the simpler one.

• Path B—Invoice-level (accrual basis). Record a journal entry each time a client pays an invoice, then a second entry when the payout arrives. Use this if your firm recognizes income when the invoice is paid rather than when the cash lands.

If you are unsure which applies to your firm, ask your CPA.

Account setup

Create the following accounts in your chart of accounts before you begin.

• Both paths: create a TaxDome Payments Processing Expense expense account for recording processing fees.

• Path B only: also create a TaxDome Payments Clearing bank account for funds collected but not yet paid out.

Path A: Payout-level recording

Step 1: Get the payout details

Your recording trigger is the bank deposit—do not record anything when individual invoices are paid.

Log in to the Stripe dashboard . Open the payout that matches your bank deposit and note the gross collected, total fees deducted, and net payout amount.

Confirm that net = gross − fees before recording anything. If the numbers don’t add up, find the discrepancy in the Stripe dashboard first.

Step 2: Record a journal entry

Create a journal entry dated to the day the payout was deposited:

In the memo or notes field, enter the payout ID and a brief description—for example: “TDP Payout PO_abc123 — 14 invoices — see attached.”

Step 3: Save your audit trail

In the Stripe dashboard, open the payout detail page and export the transaction list as a CSV file or PDF. Attach it to the journal entry or save it to your accounting records with a filename that matches the payout ID and date. This lets you trace any bank deposit back to individual client invoices.

Step 4: Match to your bank feed

If your software has a bank feed, match the journal entry to the deposit line. If you reconcile manually, confirm the entry date and amount match your bank statement.

Path B: Invoice-level recording

Entry 1: When a client pays an invoice

Check payments notifications in Inbox+ or the Payments section to catch invoice payments as they come in. For each payment, record:

In the memo or notes field, enter the client name, invoice number, and invoice date—for example: “Smith CPA — INV-0042 — Dec 30.”

Date each entry to the date the invoice was paid in TaxDome—not the payout date. This keeps income in the correct accounting period.

Entry 2: When the payout arrives

Log in to the Stripe dashboard and open the payout detail. Confirm every invoice from Entry 1 for this period appears in the payout, then record:

In the memo or notes field, enter the payout ID, date, and invoice count—for example: “TDP Payout PO_abc123 — Jan 2 — 14 invoices — see attached.”

After this entry, the clearing account balance for this batch returns to zero. Export the payout transaction list from the Stripe dashboard and attach it to this entry as your audit trail.

Monthly close checklist

At month end, pull the Payouts report from the Stripe dashboard and confirm:

• Total gross in your journal entries matches the gross total on the report

• Total fees in your journal entries match the fees total on the report

• Total net debits to your bank match the net total on the report

If totals don’t match, the most common causes are a payout near month-end recorded in the wrong period, a fee entered at the wrong amount, or a payout not yet recorded. Pull the payout detail from the Stripe dashboard and correct the entry.

Where to find the numbers

All figures are in the Stripe dashboard.