Business scenario necessitates seamless Stripe payouts integration with NetSuite to offer comprehensive payment overview, encompassing:

• Payments: Deposits seamlessly link to existing NetSuite records, enabling exact reconciliation and granular income source tracking.
• Other Deposits: Handles unassociated transactions efficiently, regardless of existing records.
• Cashback: This category serves to address negative amounts, primarily for transaction types such as Stripe fees or refunds.

After executing the payout script in NetSuite, a custom record named “PayPack Stripe Payout Reconciliation” is automatically generated, serving as a detailed summary of the payout record. This custom record captures key financial components including total amount, payout id, payout date, charges, refunds, adjustments, Stripe fees, network costs, reserved funds and transfers. This functionality ensures that our financial management processes are both accurate and efficient, providing a comprehensive view of our financial transactions. This is also linked to the Deposit record created in NetSuite.

To have a look at the Custom Record go to page PayPack Stripe Payout Reconciliation and click view on any payout transaction.

To navigate to the Deposit page from the custom record go to Deposits (Subtab) → Click on the document number. It leads to the deposit page of that payout record.

Deposits

To view the list of deposits go to Transactions → Bank → Make Deposits → List.

The deposit record in NetSuite includes three critical subtabs: Payments, Other Deposits, and Cashback. Here's how these subtabs function within the NetSuite environment.

• Payments: This subtab links deposits seamlessly with existing records in NetSuite, facilitating precise reconciliation and detailed tracking of income sources.
• Other Deposits: Designed for transactions that may not yet have corresponding entries in our NetSuite records, this subtab efficiently manages these records, ensuring complete and accurate financial data.
• Cashback: In the NetSuite ecosystem, the Cashback subtab is dedicated to addressing negative amounts, particularly for items like Stripe fees or refunds. It allows for effective segregation and management of these transactions to maintain precise financial records, even when dealing with reimbursements or fee adjustments.
  

According to the requirement, navigate to

• Items → Payments
• Items → Other Deposits
• Items → Cashback

To navigate to a Custom Record from the deposit record. Go to PayPack Data subtab → PayPack Fields → click on STRIPE PAYOUT RECON [PAYPACK] id.

Variances

Support for payout variances improve the accuracy, efficiency, and transparency of the Payout system, ultimately supporting better financial management and reporting within the organization. The most common payout variances occur from the use of multiple currencies where NetSuite and Stripe currency conversions are not calculated the same.

NetSuite Deposit Record includes a subtab, PayPack Payout Variance.

• Transaction Variance: This refers to the differences in expected vs. actual transaction amounts, which can be either positive (+ve) or negative (-ve).
• Custom Record Creation: Each transaction variance is recorded as a custom record named "PayPack Payout Variance." This helps track and manage discrepancies efficiently.

If the variance is positive it is added under the other deposits tab, indicating increased funds.

If the variance is negative variance is added under the cashback tab, reflecting reductions in funds.

If different account mapping is required for these variances, you can set them up as specified in this documentation.

The type for variance mapping should be designated as “variance” to ensure proper categorization and mapping.

Stripe Fees

Stripe processing fees are brought into the NetSuite Deposit record via the Cash Back subtab.

By default, PayPack groups these fees into a single line item (or summarized lines) on the Cash Back subtab to keep your deposit records clean and your financial reporting simplified. This approach avoids cluttering the main deposit record with hundreds of individual fee lines while still ensuring your GL accounts are accurately debited.

Handling Returned Fees

In scenarios where Stripe fees are returned to you (for example, during certain refund processes or fee reversals), PayPack reflects these in the NetSuite Deposit to ensure the total payout amount matches your bank statement.

Depending on your configuration, returned fees may be recorded in the Other Deposits subtab.

These negative entries or adjustments effectively "add back" the funds to the deposit total, mirroring the actual movement of funds from Stripe back to your merchant account.

Access Individual Fees

While the Cash Back subtab provides a high-level grouped view for easier reporting, you may occasionally need to audit the individual fee for a specific transaction. To view the granular breakdown of every fee included in a payout:

1. Open the Deposit record in NetSuite.

2. Navigate to the PayPack Data tab.

3. Click on the PayPack Payout Grouped Fee Transactions subtab.

This subtab provides a line-by-line list of all individual Stripe transactions and their corresponding fees that were aggregated into the deposit's summary lines.