We’re testing out KAJABI payments over at our sister brand, The Ambitious Bookkeeper. What we’ve noticed so far…
It isn't as easy as reconciling Stripe or PayPal.
As Xero users, we're able to link PayPal and Stripe as bank accounts in Xero. This enables automatic daily feeds of transactions allowing us to have a real time view of sales. When we switched over to KAJABI payments, we lost this ability, and the ability to see individual sales and transaction fees.
Why is tracking individual sales important?
First, let's chat about why it's important to track each individual sale in your accounting system.
- You want to be able to understand which programs, courses, products, etc are profitable, so you want to track each transaction that comes in. This allows you to setup "rules" in your accounting system for each product, coding it to a specific revenue stream. For example:
- Digital Products
- Signature Program
- Another reason is to be able...