This article explains how Cin7 Pay transactions sync to QuickBooks Online and how to reconcile payments, fees, surcharges, and payouts.
Before you start
- You’ve set up Cin7 Pay
- You have the Money → Cin7 Pay permission
Account requirements
Before syncing Cin7 Pay transactions to QuickBooks Online, select all accounts that apply to your setup in Cin7 Pay under Money → Cin7 Pay → Account and setup → Accounting.
These include the clearing, payment fee, and bank accounts. Select a surcharge account if you use surcharges, and select the financing liability and financing fee accounts if you use Stripe Capital.
If you don’t select the accounts required for your setup, Cin7 Pay transactions may fail to sync.
Transactions recorded by Cin7 Pay
Cin7 Pay records these transaction types:
- Payments
- Payment fees
- Surcharges
- Payouts
Transactions required for reconciliation
This table shows which transactions must sync from Cin7 Core to QuickBooks Online for reconciliation. It includes every transaction recorded by Cin7 Pay, as well as the underlying invoice or credit note.
| Transaction | Note |
|---|---|
| Invoice | Required |
| Payment | Required |
| Payment fee | Required |
| Surcharge | Required only if surcharges are activated |
| Payout | Required |
| Credit note | Required for refunds, returned goods, or when customer credit is used instead of payment |
Transaction flow
The transaction flow depends on whether payment is received before or after the invoice is authorized.
- Payments on authorized invoices—the invoice is authorized before payment is received
- Payments before invoice authorization—payment is received on a quote or sales order before the invoice is authorized
The following sections describe each flow, what happens in Cin7 Core, and the accounting transactions created in QuickBooks Online.
Payments on authorized invoices
| Transaction | Result in Core | Accounting entry (after sync) |
|---|---|---|
| 1. Invoice authorized | Invoice created | Invoice created Dr—Accounts receivable Cr—Sales income |
| 2. Payment received | Payment recorded on invoice | Payment created Dr—Payment clearing Cr—Accounts receivable |
| Payment fee recorded as manual journal | Manual journal created Dr—Payment fee expense Cr—Payment clearing |
|
| Surcharge recorded as manual journal | Manual journal created Dr—Payment clearing Cr—Surcharge income |
|
| 3. Payout received | Receive money task created | Receive money transaction created Dr—Bank clearing Cr—Payment clearing |
Payments before invoice authorization
| Transaction | Result in Core | Accounting entry (after sync) |
|---|---|---|
| 1. Payment received | Payment recorded as customer credit | Manual journal created Dr—Payment clearing Cr—Customer credit liability |
| 2. Invoice authorized | Invoice created | Invoice created Dr—Accounts receivable Cr—Sales income |
| 3. Customer credit applied as payment | Payment recorded on invoice | Payment created Dr—Customer credit liability Cr—Accounts receivable |
| Payment fee recorded as manual journal | Manual journal created Dr—Payment fee expense Cr—Payment clearing |
|
| Surcharge recorded as manual journal | Manual journal created Dr—Payment clearing Cr—Surcharge income |
|
| 4. Payout received | Receive money task created | Receive money transaction created Dr—Bank clearing Cr—Payment clearing |
Examples
Reconciliation: Payments on authorized invoices
In this example, a $100 payment is received on an authorized invoice. The payment includes a $3.30 processing fee, and a $10 surcharge is applied to the transaction.
| Accounting entry | Account | Debit | Credit |
|---|---|---|---|
| Invoice | Accounts receivable | 100 | |
| Sales income | 100 | ||
| Payment | Payment clearing | 100 | |
| Accounts receivable | 100 | ||
| Payment fee (manual journal) | Payment fee expense | 3.30 | |
| Payment clearing | 3.30 | ||
| Surcharge (manual journal) | Payment clearing | 10 | |
| Surcharge income | 10 | ||
| Payout (receive money) | Bank clearing | 106.7 | |
| Payment clearing | 106.7 |
To complete the process, reconcile the payout in your QuickBooks Online. The final balances of each account are:
- Accounts receivable: 0
- Sales income: Cr 100
- Payment clearing: 0
- Payment fee expense: Dr 3.30
- Surcharge income: Cr 10
- Bank clearing: 106.7
Reconciliation: Payments before invoice authorization
In this example, a $100 payment was received before invoice authorization. The payment includes a $3.30 processing fee, and a $10 surcharge is applied to the transaction.
| Accounting entry | Account | Debit | Credit |
|---|---|---|---|
| Payment | Payment clearing | 100 | |
| Customer credit liability | 100 | ||
| Invoice | Accounts receivable | 100 | |
| Sales income | 100 | ||
| Payment using customer credit | Customer credit liability | 100 | |
| Accounts receivable | 100 | ||
| Payment fee (manual journal) | Payment fee expense | 3.30 | |
| Payment clearing | 3.30 | ||
| Surcharge (manual journal) | Payment clearing | 10 | |
| Surcharge income | 10 | ||
| Payout (receive money) | Bank clearing | 106.7 | |
| Payment clearing | 106.7 |
To complete the process, reconcile the payout in your QuickBooks Online. The final balances of each account are:
- Payment clearing: 0
- Customer credit liability: 0
- Accounts receivable: 0
- Sales income: Cr 100
- Payment fee expense: Dr 3.30
- Surcharge income: Cr 10
- Bank clearing: 106.7
Troubleshooting
Clearing account balances
If your payment clearing or bank clearing accounts have unexpected balances, audit the following accounts used by Cin7 Pay:
- Payment clearing
- Bank clearing
- Payment fee expense
- Surcharge income
If you use Cin7 Capital powered by Stripe (Stripe Capital), financing disbursements also post to your bank clearing account, and financing repayments are deducted from your payment clearing account. Find out about reconciliation with Stripe Capital.