Payouts & Reconciliation with Stripe

In this article, learn how to find, review in-depth detail and reconcile your Payouts for LMN Pay with Stripe. 

In this article:

Payouts with Stripe

🎥 Video: Payouts & Reconciliation with Stripe

Payouts with Stripe

1. In LMN, navigate to Payments > Payments
2. Click on the Payouts tab at the top of the Payments screen
   
3. In the top half of this page, you will see:
   • Total Balance - The current Total Balance in your Stripe account balance
   • Available to pay out / On the way to your bank - this status will change based on the stage of the payment flow, letting you know the total amount of funds on the way to your bank. 
   • Next Payout Scheduled for/Expected to Arrive- The day your next scheduled Payout is expected to arrive
     • As funds land in your Stripe account balance, it will be paid out in accordance with your Credit Card and ACH funding times. For example, if you received a payment yesterday from a credit card, it will be reflected in your Stripe account balance today with a scheduled payout date to your bank tomorrow.
   • See Details - To see more information, click on the See Details button on the right.
     This will show you all your Upcoming Payouts and the Estimated Schedule, along with which bank account funds will be deposited into.
     
4. In the bottom half of this page will be a history of all your payouts with the most recent at the top.
   
5. Click into a Payout for more information. View the detailed information.
   

• Overview:
  • To: The overview section will let you know which bank account this payout was deposited to
  • Amount: The total amount after fees
  • Type: Bank Account
  • Payout Trace ID: Your bank might ask you for this ID if you contact them about a payout. Keep in mind that some banks call this a "Reference Number" or something similar. 

• Summary:

  This section will show you what made up your Payout, including charges, refunds, fees & adjustments. Stripe will automatically take out your processing fees before depositing your funds, this is called net billing

  • Gross: The total amount of funds received before fees are deducted
  • Fees: The total Stripe Fees that were deducted
  • Total: The amount deposited after fees were deducted
• Transactions: 
  • You will find a detailed breakdown showing which LMN invoices and customers made up that payout.
  • If you need to see what you paid in fees for an individual customer payment, you can click into each line item for more detail. 
  • Any adjustments or refunds included in the payout will also be shown here to help with reconciling your bank deposits. 
•  FAILED PAYOUTS 
  • If you see a failed payout in your list, simply click into it to see the reason for the failure.
    ⚠️ If you change your bank account, remember to update it in your Stripe Account Management section to avoid payout interruptions and/or failures. 
    
  • Once the reason is corrected, Stripe will trigger the payout.
     

🎥 Video: Payouts & Reconciliation with Stripe

Watch the Payouts & Reconciliation with Stripe video tutorial HERE

Need more help?  Contact our Support Team by email at lmn-support@granum.com, through Live Chat, or by phone at (888) 347-9864

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