Payment reconciliation verifies Toolfy's recorded revenue matches Stripe payouts to your bank account. Use this to prepare financial reports, file taxes, and ensure all payments are accounted for.
Reconciliation metrics explained
Gross volume (30 days)
What it means: Total payment amount processed through Stripe in last 30 days.
Why it matters: Track revenue trends month-over-month.
Stripe fees
What it means: Card processing fees charged by Stripe (1.5-3.25% + fixed fee per transaction).
Why it matters: Calculate net revenue after payment processing costs.
Toolfy platform fee (1%)
What it means: Toolfy's fee for providing software and payment infrastructure.
Why it matters: Budget for total cost of using Toolfy (Stripe fees + platform fee).
Net after fees
What it means: Gross volume minus Stripe fees minus Toolfy fees—actual money you keep.
Why it matters: This is your true revenue for financial reporting.
How to reconcile payments
- Navigate to Settings → Payments in Toolfy.
- View `Payment Reconciliation` section showing 30-day rolling metrics.
- Compare Gross Volume to Toolfy invoice totals marked as `Paid`.
- Check Stripe Dashboard → Payouts to see actual bank deposits.
- Match Toolfy's Net After Fees to Stripe's payout amounts (should align within pennies).
- Export CSV from Toolfy (Gross, Fees, Net) for accounting software import.
- Repeat monthly or quarterly for bookkeeping and tax filing.
Fees breakdown
Stripe charges per-transaction fees based on card origin. Toolfy adds 1% platform fee on top.
| Fee type | Rate | Example (after fees) |
|---|---|---|
| UK cards | 1.5% + 20p | £100 charge → £1.70 fee → £98.30 net to you |
| EU cards | 2.5% + 20p | €100 charge → €2.70 fee → €97.30 net to you |
| International cards | 3.25% + 20p | $100 charge → $3.45 fee → $96.55 net to you |
| Toolfy platform fee | 1% of transaction | £100 charge → £1.00 fee → deducted from payout |
Payout timing
- Standard payouts: 1-2 business days after charge.
- First payout: 5-7 business days (Stripe's risk review period).
- Weekend charges: Settle on Monday/Tuesday.
- Bank holidays: Push settlement to next business day.
- Instant payouts (eligible accounts): 30 minutes for 0.5% fee (min £0.50).
View payout schedule and history in Stripe Dashboard → Payouts. Toolfy doesn't control payout timing—that's managed by Stripe and your bank.
Export CSV for accounting
- Click `Export CSV` in Payments → Reconciliation section.
- CSV includes: Date, Gross Volume, Stripe Fees, Toolfy Fees, Net Amount.
- Import into QuickBooks, Xero, or Excel for financial reporting.
- Matches Stripe Dashboard payout reports—use for cross-verification.
- Monthly exports recommended for clean bookkeeping.
Common reconciliation discrepancies
Toolfy shows more than Stripe payout
Cause: Manual payments (cash, check) recorded in Toolfy but not processed via Stripe.
Fix: Filter Toolfy invoices by payment method—only count Stripe charges for reconciliation.
Stripe payout differs from Toolfy net
Cause: Refunds, disputes, or chargeback fees deducted from payout.
Fix: Check Stripe Dashboard → Disputes and Refunds for adjustments. Toolfy shows gross before these deductions.
Missing payments in Toolfy
Cause: Webhook delivery failure—Stripe charged customer but Toolfy didn't receive update.
Fix: Refresh invoice page. If still missing, contact support with Stripe charge ID.
Accounting best practices
- Record Stripe fees as `Payment Processing Expense` in accounting software.
- Record Toolfy platform fee as `Software Subscription` or `SaaS Cost`.
- Net after fees = Revenue for tax reporting (not gross volume).
- Export reconciliation CSV monthly and save for year-end tax prep.
- Match Stripe payout dates to bank deposits for bank reconciliation.
Troubleshooting
Reconciliation numbers don't match
- Check date range—Toolfy shows rolling 30 days, Stripe Dashboard may use calendar month.
- Exclude manual payments (cash, check) from reconciliation—only count Stripe charges.
- Verify refunds and disputes are accounted for (reduce net amount).
- Refresh Toolfy page—metrics update every page load but may lag during webhook delays.
CSV export missing data
- CSV exports require payments within date range—empty CSV means no Stripe charges in period.
- Manual payments don't appear in Stripe reconciliation CSV (they're not Stripe transactions).
- Check browser download folder—some browsers block automatic downloads.
Platform fee seems high
- Toolfy charges 1% of transaction amount (not invoice total)—partial payments = partial fee.
- Fee calculated on gross charge before Stripe fees (£100 charge = £1.00 Toolfy fee).
- Refunds: Toolfy fee is NOT refunded when you refund customer (Stripe policy).
Need help reconciling payments?
Email support@toolfy.io with screenshots from both Toolfy (Payments → Reconciliation) and Stripe Dashboard (Payouts). Include date range and specific amounts that don't match.