How to settle card payments from clearing to the bank

When a customer pays by card, the money does not reach your bank straight away - it lands a day or two later, often in a different bank from your transfers. ChecKmate keeps card takings in a clearing account (for example Card Clearing or Stripe Clearing) until then.

Step 1: Find the clearing account

Open Accounting > Chart of Accounts > Account List. Clearing and bank accounts with a balance have a Move money link.

Step 2: Move the money

Press Move money on the clearing account. Choose Which account did it land in?, enter the Amount and the Date it landed, add a note such as Stripe payout, 3 Sep, and press Move.

Good to know

• Record it when the money actually arrives - check your bank statement.
• If automatic settlement is set up on your card payment method, card takings are moved for you after the settlement days; you only need Move money for anything else.
• Card fees are recorded separately, so the amount that lands can be less than the sales.