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.