I recently moved from Reckon (Quickbooks) Hosted to Xero. As I build websites and deliver Mailchimp training and consulting I tend to use many online services. For example I use Eventbrite to sell tickets for Mailchimp training classes and Acuity Scheduling so that clients may book my time. Xero is good in that it integrates well with many of the common online services.
For credit card payment processing I use Stripe. Again, Stripe is just awesome because it integrates so well with so many online services. This means that, for example, when clients book my time in Acuity Scheduling, payment is collected via Stripe and an invoice is created in Xero via an Acuity Scheduling to Xero connector.
Is there a connector between Stripe and Xero?
What is surprising is that there is no simple and free connector between Stripe and Xero so that payments and transfers can be reconciled. There are a few services where, for an ongoing fee, the service acts as a connector. Stripe is very widely used as is Xero so it really is a mystery why there isn’t a quick, simple and free connector available. What makes things even worse is that there isn’t an obvious way of exporting data from Stripe for manual import into Xero (there are simple ways of exporting data in a CSV file from Stripe however this can’t be imported as separate transactions directly into Xero). Transaction data, that can be imported easily into Xero, can be exported from Stripe but only in QuickBooks .iif filetype.
The easy way to reconcile transactions from Stripe in Xero
Fortunately the solution for exporting data in a means that can be imported into Xero is actually very simple. Just follow the steps below and you’ll soon have your Stripe transactions available in Xero.
- From your Stripe Dashboard, click your account name to the upper right of the screen then click Account Settings.
- Enter your login details is asked then click Data (again, near the top right).
- Click Export to QuickBooks, select your transaction dates then click the Export to IIF button. A file called something like balance_history.iif will be downloaded to your computer.
- Open Microsoft Excel.
- In Excel, open the file that was downloaded in step 3 above.
- In the Text Import Wizard that appears keep the options as they are presented i.e. just click Next or Finish.
- In the open Excel file delete any rows that don’t begin with TRNS or SPL.
- Delete any empty rows before and between the data (this is important!).
- Save the Excel file as a .csv file (call the file anything you want).
- Login to Xero and go to Accounts then Bank Accounts.
- Click Manage Account to the right of your Stripe account name.
- Click Import Statement.
- Click Browse, find the .csv file saved above and click Open then click Import.
- Follow the onscreen prompts in Xero.
You’ve managed to import your transaction data from Stripe into Xero 🙂