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Stripe - Setup Stripe Bank Accounts with Cloud Depot and Xero

How to set up Stripe Bank Accounts with Cloud Depot and Xero

To ensure payments processed by Cloud Depot are recorded correctly in Xero, you must map your Stripe Gateway to a specific "Bank Account" in Xero.

We recommend using the official Stripe Direct Feed in Xero. This creates a dedicated virtual bank account that automatically imports your transactions and fees, making reconciliation much easier.

Step 1: Create the Stripe Bank Account in Xero

If you have already set up the Stripe Feed in Xero, skip to Step 2.

  1. Log in to Xero.

  2. Navigate to Accounting > Bank accounts.

  3. Click Add Bank Account.

  4. Type Stripe into the search box and select the official Stripe option.

  5. Follow the prompts to authorize the connection with your Stripe credentials.

    • Note: This will create a new Bank Account in Xero specifically for Stripe transactions.

Step 2: Sync the New Account to Cloud Depot

Now that the account exists in Xero, you need to tell Cloud Depot it is available.

  1. Log in to Cloud Depot.

  2. Navigate to Recurring Payments > Configuration.

  3. Locate the Accounting & Sync tile and click Configure.

  4. Click the Re-sync Accounting Info button.

    • Wait for the sync to complete. This pulls down your updated list of Chart of Accounts and Bank Accounts from Xero.




Step 3: Link the Gateway to the Bank Account

Finally, tell Cloud Depot to use this specific Xero account for recording Stripe payments.

  1. Go back to Recurring Payments > Configuration.

  2. Locate the Link Gateway Banks tile and click Configure.

  3. Find your Stripe Gateway in the list.

  4. In the dropdown menu, select the Xero Stripe Bank Account you created in Step 1.

  5. ⚠️ Critical Check: Ensure the Settlement Currency matches.

    • Example: If your Stripe account settles in AUD, you MUST select an AUD Bank Account in Xero.

  6. Click Link to save.

What happens next?

Cloud Depot will now automatically record payments into this Stripe Bank Account in Xero whenever a customer pays an invoice. Because you are using the official Stripe Feed, these payments will match against the bank statement lines Xero imports, allowing for easy "OK" reconciliation.

Tip: How to reconcile Stripe transactions in Xero 

For detailed steps on reconciling these Stripe transactions in Xero, see our dedicated guide on Stripe Xero reconciliation.