When a payment gateway makes a payment to your bank account, infoodle is notified of this. This applies to 3 gateways at the moment:
|GoCardless||Notified as soon as GoCardless notifies us|
|Stripe||infoodle checks at 7am|
|Stripe + Plaid||infoodle checks at 7am|
A list of payouts is available, shown most recent first. Initially they show as 'Not reconciled'.
Behind the 'Action' link is 'payout items'. Click this to go to the details of that payout.
Click 'Reconcile' to reconcile the payouts. infoodle does extensive checking to ensure everything is in order so that the transactions can be created. Any problems are reported back to you.
If you are connected to xero - and have reconciled the payout, you can 'push to xero'.
infoodle will create two receive money transactions.
The bank account it posts these transactions into is identified in the payment method settings/
|Spend Money||This contains a single line with the fees, according to the payout. The account code used is setup in the payment method.|
|Receive Money||This contains a line per form using the account code specified in the form.|
Multiple Stripe Payment Methods
If you use the same stripe account for multiple payment methods, e.g. for a Stripe and a Stripe + Plaid account, then the payout is not split by Stripe to differentiate between which infoodle payment method is used. Therefore its indeterminate which payment method infoodle will use. This means that all Stripe based payment methods should use the same Fees account code and Bank Account to be clear.
Stripe Manual Payouts
In Stripe, you are able to disable 'Automatic Payouts' in Stripe. If you are doing this, payouts have to be pushed manually by you to your Bank Account each time you want to receive your funds. Unfortunately, Stripe at this stage can not then provide infoodle with the payout information. In this case, you will not be able to perform the above bulk reconcile and Push to Xero features. Your infoodle Payouts screen will instead show the below:
To get payouts working in infoodle, please set your Payout schedule to Automatic. See Stripes help here.