End of Day → CC Deposit & Rec. and Cash Deposit & Rec. are where you record what actually reached your bank, and what the processor kept.
Why this step exists
When a customer pays by card, the money does not arrive in your bank that day. The card processor holds it, batches it with other transactions, takes its fee, and transfers the rest a few days later.
If MeTEY put card payments straight into your bank account, your books would claim you hold money you cannot spend, and they would never agree with your bank statement. Across a busy week that gap can be thousands of pounds.
So MeTEY puts the money in a clearing account instead — a holding account meaning "the processor owes us this, it has not landed yet". The balance is real money; it is simply not in your bank yet.
💡 A worked example
Monday — a customer pays $500 by Visa:
| Clearing account (Visa) | +$500.00 | with the processor |
| Accounts Receivable | −$500.00 | customer no longer owes it |
Thursday — the processor pays out $485, keeping $15:
| Clearing account (Visa) | −$500.00 | cleared |
| Bank account | +$485.00 | what actually arrived |
| Bank fees (expense) | +$15.00 | the processor's cut |
Thursday's entry is the one this screen makes. Skip it and your bank never reconciles, and the $15 fee is never recorded as an expense.
Which accounts are involved
Each payment method has its own clearing account, named after the method:
| Payment method | Clearing account | Cleared on |
|---|---|---|
| CC-VISA | A-BANK CC-VISA | CC Deposit & Rec. |
| CC-MASTERCARD | A-BANK CC-MASTERCARD | CC Deposit & Rec. |
| STRIPE | A-BANK STRIPE | CC Deposit & Rec. |
| CHECK | A-BANK CHECK | Cash Deposit & Rec. |
| CASH | A-BANK CASH | Cash Deposit & Rec. |
If you add a payment method, create a matching account in
Chart of Accounts named A-BANK followed by the
method name. Card brands appear on the reconciliation screen automatically.
Reconciling a deposit
- Open End of Day → CC Deposit & Rec.
- Choose the activity date
- For each account, enter the Bank Deposit and Fees from the processor's settlement report or your bank statement
- Check the Final Balance — what is still owed to you
- Save
⚠️ Use the processor's figures, not MeTEY's
The whole point is to compare what MeTEY expected against what actually happened. Enter the gross deposit in Bank Deposit and the fee separately in Fees — do not subtract the fee yourself.
The columns are:
- Prior Balance — unsettled before this date
- Day Activity — payments taken on this date
- Bank Deposit — what the processor paid you (you enter this)
- Fees — what the processor kept (you enter this)
- Final Balance — what remains unsettled
Reconciling Stripe
Stripe appears on the same screen as the card brands and works the same way, with two differences worth knowing.
💡 Stripe payouts do not match a single day
A card terminal batches at close of business, so one day's takings settle as one deposit. A Stripe payout covers a rolling window and can span several days of charges.
Reconcile against the payout in your Stripe dashboard rather than a single day's activity. It is normal for the Final Balance to stay above zero between payouts — that is money Stripe is holding, not an error.
Second, Stripe's fee is taken before the payout arrives, so enter the gross charge total as the deposit and the fee separately, both from the payout report. Typical Stripe fees are 2.9% + $0.30 for cards and 0.8% capped at $5.00 for ACH bank transfers.
Troubleshooting
| Problem | What it means |
|---|---|
| A clearing balance keeps growing | Deposits are not being reconciled. This screen has to be used each time a payout arrives, not only at month end. |
| A balance has gone negative | A deposit was entered for more than the payments it covers, or the same payout was reconciled twice. |
| Bank total agrees but fees look wrong | The fee was deducted from the deposit figure. Deposit is the gross amount; fees go in their own column. |
| A payment method is missing from the screen | Its clearing account does not exist. Create A-BANK plus the method name in Chart of Accounts. |
| Stripe balance is not zero after a payout | Expected. Charges taken after the payout cut-off settle in the next one. |
💡 Good practice
- Reconcile when each payout lands, while the figures are to hand
- Review clearing balances weekly — a balance older than the processor's normal settlement time usually means a missed reconciliation
- Keep the settlement report with the entry; the comment field is a good place for the payout reference