Today, we're launching detailed Stripe Transfer reports within Planning Center Giving. Stripe is the payment processor that powers Giving and Registrations. After funds are collected, Stripe transfers these funds to your church bank account. These new Stripe Transfer Reports in Giving will help your bookkeepers understand what's in each transfer so the deposits are easier to balance with your general ledger.
Here is the new screen:
All your Stripe Transfers are listed on the left with the newest transfer at the top. When a transfer is selected, the details are loaded on the right. You'll see summary information at the top and details of all the donations contained in the transfer below. Just as with other views in Giving, this list is filterable, exportable, and printable.
"Deposit Date" for Online Donations
While looking at a single donation, we're now able to show the "Deposited" date for any donation processed by Stripe through Giving. Clicking the deposit date will of course bring you to the associated Stripe Transfer. Here's an example:
This means that you can now see the complete lifecycle for a donation: when the donation was made, when it succeeded, and when it actually made it into the church's bank account from Stripe. As we all know, ACH bank donations can be pretty slow, so being able to track all three dates will bring added clarity.
Net vs Gross
Throughout all of Giving, a $100 donation is shown as a $100 donation (the gross amount of the gift). However, since this new view is all about donations after they've reached your bank account, we're showing you the "net" amounts ($100 would show as $97.40 in the list). We're also showing net amounts on the fund totals as well. This way, it will be easy to do a cash-based entry in your general ledger when it's time to reconcile Stripe transfers. For example, if you had a $5000 transfer you'll be able to easily add your way back to that $5000 from the donation listing.
In the heading of each Stripe Transfer report you'll see two links:
"Open in Accounts" will pull up the same Stripe transfer over in Accounts. Those reports are still there, alive and well! They provide income totals to other Organization Administrators and Billing Managers without revealing individual donations or who gave. They also report on income from Planning Center Registrations.
"Open in Stripe" will bring you straight to that Stripe transfer in your church's Stripe account. If you want to drill down into the raw transactional data for some reason, go for it. Stripe has its own set of exports and filters if you want to double check things. Just remember that a CSV export from the Giving side of things will give you more information about Giving-related data (like split-fund allocations, donor email, labels, etc).
That's it for now! We hope native Stripe Transfer Reports in Giving helps make your bookkeeping tasks a bit easier.
~ Team Giving