How to Specify an Asset Account for Pending Payouts

Integrating your MonkeyPod with Stripe or Eventbrite makes it easy for you to accept donations, manage event ticketing, and more. And best of all, MonkeyPod automatically records those transactions on your books, so you don't have to worry about logging each one manually.

When you integrate with Stripe or Eventbrite, by default, credit card donations and sales will end up in a single Payouts Receivable account in your Chart of Accounts.

If you're using both integrations, this can get a little confusing, as funds from both sources will be tracked in the same account. However, you can change the account where funds are deposited for each app, making it easy to distinguish your Stripe transactions from your Eventbrite transactions.

In this article, we'll show you how to change the destination for Stripe and Eventbrite transactions in your Chart of Accounts.

Creating a new account

To get started, you'll first need to create a new destination account. To do this, open the Finance menu and select Chart of Accounts.

Scroll down to the "Other Current Asset" section and you'll see the default Payouts Receivable account. To create a new account, select Add Other Current Asset account.

Enter in the details of the account, including an account name and description. When you're done, select Save.

Setting Stripe funds destination

You're now ready to change the default account for Stripe payouts to the new account. To get started, open the Apps & Integrations menu and select Stripe (make sure Stripe is installed first!)

Then, select the edit button under "Pending payouts are tracked in."

Finally, select the account where you'd like Stripe payouts to be tracked, and select Save Changes.

And you're all set!

Setting Eventbrite funds destination

Setting up your Eventbrite funds destination is very similar. To get started, open the Apps & Integration menu and select Eventbrite (make sure Eventbrite is installed first!)

From the Basic Settings menu, select Change Settings.

Then, select the account you'd like to direct payouts to from the Account for Pending Payouts dropdown.

Finally, select Save Changes. And you're all set!

If you have any questions about Integrations or Accounting, you can always contact our team at support@monkeypod.io, or join us for a Welcome Wednesday!