Reconciling Stripe Payments in Odoo

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Maintaining an accurate record of incoming business payments is an essential business practice. For Odoo users that use Stripe, we created the Stripe Reconciliation module that takes the hassle out of reconciliation by automatically matching Stripe payments coming into Odoo with the correct bank statement. 

The Challenge

Our customer wanted to stop wasting time having to manually reconcile Stripe payments at the end of each day. 

They were using Stripe to take payments within Odoo from customers when they requested a service. However, this approach led to an employee having to invest time at the end of each day to manually reconcile Stripe payments against the respective bank statement. 

Needless to say, this was taking considerable time and wasting valuable company resources.

They asked us to help. 

The Solution

We created the Stripe Reconciliation module to help our customer overcome this time consuming and tedious challenge. The module works seamlessly behind the scene to automatically reconcile Stripe payments against the correct bank statements in Odoo. This approach eradicated the need for manual reconciliation and saves our customer considerable time each day. 

Reconciled Stripe statement in odoo

How it Works

The module works by integrating with Stripe. It allows payments made through Stripe to be automatically reconciled against the correct bank statements within Odoo - removing the need to manually reconcile Stripe payments. 

When Stripe sends us an update that money is being either sent from or to the Stripe journal, the bank statements are automatically created - again saving our customer time.

As it is important for incoming and outgoing balances to be accurate, we also built in a smart tool which accounts for any fees Stripe charges for using their service. This ensures that balances remain accurate without the need for manual intervention.

What is Stripe?

Stripe primarily offers payment processing software and application programming interfaces for e-commerce websites and mobile applications.

Any Questions or Need a Custom Bespoke Module?

We are a UK based Odoo development team specialising in Python, PostgreSQL, JavaScript and XML. We can supply bespoke Odoo solutions including modules, customisations and website themes. We have worked closely with other companies and look forward to working with you, so feel free to get in touch with any questions or bespoke requests.