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Stripe Enhancement

· 3 min read
Shawn Vader
Shawn Vader
CTO at Fiskl

The Multi-Currency Reconciliation Challenge​

As a business owner dealing with multiple currencies, you know the headache of reconciling Stripe payouts. With payments, subscriptions, refunds, and fees in various currencies, it's a complex puzzle that can leave you frustrated and potentially overpaying on taxes. But what if I told you there's now a solution that makes this process a breeze?

Introducing Fiskl's Enhanced Stripe Integration​

We're thrilled to announce a major upgrade to our Stripe integration that will revolutionize how you handle multi-currency transactions and reconciliations. 🎉

Here's What You Get:​

  1. Automated Account Setup: Connect your Stripe account, and we'll automatically create the necessary accounts in your Chart of Accounts for each currency.

  2. Itemized Transaction Sorting: Every transaction is categorized and placed in the relevant account, saving you hours of manual work.

  3. Zero-Touch Reconciliation: For transactions originating in Fiskl, the reconciliation process is completely automated.

  4. Simplified Payout Matching: Instead of reconciling hundreds of individual transactions, you'll only need to match the Stripe payout to your bank account.

The Impact: From Hours to Minutes​

Imagine this scenario: You have USD and CAD bank accounts connected to Stripe. At the end of the week, you receive two payouts covering hundreds of transactions. Previously, this meant hours of painstaking reconciliation work. Now? It's just two simple internal transfers.

Why This Matters for Your Business​
  1. Time Savings: Reduce reconciliation time from hours to minutes.
  2. Accuracy: Minimize human error in transaction allocation.
  3. Tax Optimization: Ensure fees and refunds are correctly allocated, potentially reducing your tax liability.
  4. Focus on Growth: Spend less time on administrative tasks and more on strategic business activities.

How to Get Started​

Ready to transform your multi-currency accounting process? Here's how to get started:

  1. Visit our Fiskl Stripe Integration Guide.
  2. Connect your Stripe account to Fiskl's Banking page.
  3. Watch as we set up your accounts automatically.
  4. Enjoy the benefits of streamlined reconciliation!

The Bottom Line​

In today's global marketplace, dealing with multiple currencies is often unavoidable. But with Fiskl's enhanced Stripe integration, it no longer has to be a burden. We've turned one of the most complex accounting tasks into a simple, efficient process.

Don't let multi-currency reconciliation hold your business back. Embrace the power of automation and integration with Fiskl and Stripe. Your future self (and your accountant) will thank you!

Ready to revolutionize your multi-currency accounting? Get started with Fiskl's Stripe integration today!