Mandatory 4-step Setup Procedure for Existing Enrolmy Users
Please follow the below instructions to enable the Stripe Transactions Bank Account in Xero
Step 1 - Enable Stripe Bank Feed
Head to More → Settings → Integration → Xero
Select ON next to Enable Stripe Bank Feed
The below Account Types must be selected
Please note the following:
Enrolmy will create new accounts (identified below)
If you already have an account code you want to use instead, you will be able to select it, however
This does not apply to the Stripe Transactions Bank Account. It must be selected.
Bank Feed Item | Account Type Required | Description | Account Codes for Accounts Created By Enrolmy | Mandatory To Choose the Enrolmy Preset Option? |
|---|---|---|---|---|
Stripe Transactions, including Credit/Debit Card transactions | Bank Account | Described Above |
| Yes |
Platform Fees | Expense | For credit/debit card fees paid by you to Stripe |
| No. If you already have an account code for Credit/Debit Card fees, you can select it here |
Customer Fees | Revenue | For credit/debit card fees paid by customers |
| No. If you already have an account code for credit/debit card fees paid to you by customers, you can select it here |
Credit/Debit Card Prepayments | Prepayment | For credit/debit card payments made by customers before an invoice is raised |
| No. If you already have an account code for prepayments, you can select it here |
Choose a suitable date for the Bank Feed Start Date
It has to be the start of the month. This is because you will need a firm date to ensure the complete reconciliation of the Suspense Account method.
Choose Credit Card Payment Tracking Category (Optional)
Save Changes
Step 2 - Complete a Xero sync
Complete a Xero Sync and confirm if there are any error messages in the Sync Log
If there are any Xero error messages related to the setup described above, please contact Enrolmy Support
Step 3 - Review transactions
After the first 5 days of the new month review the Stripe Transactions Bank Account in Xero to establish if all the transactions are behaving as described in this help guide Balancing your Stripe Suspense Account
If there is any unusual transactional behaviour, please create contact Enrolmy Support by creating a Support
Step 4 - Balancing your Stripe Suspense Account to Zero
Please refer to this Balancing your Stripe Suspense Account help guide for ensuring your Stripe Suspense Account balances to zero ($0.00)