Solution Properties
Solution ID:
200824132001593
Last Modified Date:
Tue Nov 19 16:42:35 UTC 2024
Taxonomy Path:
Case category//How do I...//banking/reconciliation
Author:
[email protected]
Set up Invoice Payments
Description

NOTE: This guide applies to Sage 50 Accounts v27 and above. If you're using Sage 50 Accounts v26 or below, please refer to our guide for earlier versions. 

With Sage Invoice Payments you can request and receive payments from your customer by either card, using Stripe, or by PayPal. Once paid, any transactions automatically post into your Sage 50 Accounts software.

NOTE: If you use Remote Data Access, you must set up Invoice Payments at the main site.


Set up Invoice Payments
  1. Open Sage 50 Accounts and log on as manager.
  2. On the navigation bar click Connected services then click Invoice Payments and click Let's get started.

     NOTE: If the company has not yet been connected to your Sage ID, a Sage ID message appears. Click Continue and follow the on-screen prompts. You should connect the data using the email address of the data owner. Use our handy guide for more information.

    If you've previously set up Invoice Payments, on the Configuration tab click Manage account then continue to step 3.

  3. Which payment provider do you want to add?

    Stripe Paypal

Do you already have an account with Stripe?

Yes No

No existing Stripe account

  • Click Stripe then click Connect Account.

    Sage 50 Accounts v27.2 and below - Click Stripe, click Copy Link then follow our alternative guide.

  • Complete the account application form then click Authorise access to this account.
  • A confirmation email is sent to the email, please click the link Claim your Stripe account.
  • Enter and confirm a new password for your Stripe account, then click Save your Stripe account.
  • Click View your dashboard then click Activate your account.
  • Enter the requested information, then click Activate account.
  • Back in Sage 50 Accounts, click ✗ to close the Stripe window then enter the following details in the Stripe tab:
    Stripe account - Base currency Click the drop-down and click the bank account that represents your Stripe account. To create a new bank account, click New.
    Foreign Accounts Click Foreign Accounts to set up any foreign Stripe accounts.
    Fees nominal code Enter the nominal code you want post the Stripe fees to.
    Fees tax code Enter the tax code you want to post Stripe fees with:
    • If you're based in the UK, choose your zero rated tax code, T0 by default. You'll then need to adjust box 6 by the same amount and bozes 1 & 4 by the VAT amount
    • If you're based in the Republic of Ireland, choose your standard rate tax code, T1 by default
  • Click OK.

Once setup is complete, you can email your customers an invoice with a Pay Now button, and they can pay you online.

Back Restart
  • Click Stripe then click Connect Account.

    Sage 50 Accounts v27.2 and below - Click Stripe, click Copy Link then follow our alternative guide.

  • Click Sign In then click Sign in with Stripe to connect.
  • Enter your Stripe email and password then click Sign in to your account.
  • Complete the verification windows.
  • Click ✗ to close the Stripe window then enter the following details in the Stripe tab:
    Stripe account - Base currency Click the drop-down and click the bank account that represents your Stripe account. To create a new bank account, click New.
    Foreign Accounts Click Foreign Accounts to set up any foreign Stripe accounts.
    Fees nominal code Enter the nominal code you want post the Stripe fees to.
    Fees tax code Enter the tax code you want to post Stripe fees with:

    • If you're based in the UK, choose your zero rated tax code, T0 by default. You'll then need to adjust box 6 with the same amount, then boxes 1 & 4 with the VAT amount
    • If you're based in the Republic of Ireland, choose your standard rate tax code, T1 by default
  • Click OK.

Once setup is complete, you can email your customers an invoice with a Pay Now button, and they can pay you online.

Back Restart

Do you already have an account with Paypal?

Yes No
  • Click PayPal then click Connect Account.

    NOTE: You must use a PayPal Business account.

  • Enter an email address and select your country then click Next.
  • Enter the requested information and click Agree and Continue.
  • Enter your Business information and click Continue.
  • Enter the account holder's information and click Continue.
  • Click the Go Back button then click ✗ to close the window.
  • Click the PayPal tab and enter the following details:
    PayPal account - Base currency Click the drop-down and click the bank account that represents your PayPal account. To create a new bank account, click New.
    Foreign Accounts Click Foreign Accounts to set up any foreign PayPal accounts.
    Fees nominal code Enter the nominal code you want post the PayPal fees to.
    Fees tax code Enter the tax code you want to post Stripe fees with.

     TIP: If you're based in the UK or the Republic of Ireland, choose your exempt tax code, T2 by default.

     

     
  • Click OK.

Once setup is complete, you can email your customers an invoice with a Pay Now button, and they can pay you online.

Back Restart
  • Click PayPal then click Connect Account.

    NOTE: You must use a PayPal Business account.

  • Enter your existing PayPal email address and select your country then click Next.
  • Enter you email again and click Next.
  • Enter your PayPal password then click Log In.
  • Click the Go Back button then click ✗ to close the window.
  • Click the PayPal tab and enter the following details:
    PayPal account - Base currency Click the drop-down and click the bank account that represents your PayPal account. To create a new bank account, click New.
    Foreign Accounts Click Foreign Accounts to set up any foreign PayPal accounts.
    Fees nominal code Enter the nominal code you want post the PayPal fees to.
    Fees tax code Enter the tax code you want to post PayPal fees with.

     TIP: If you're based in the UK or the Republic of Ireland, choose your exempt tax code, T2 by default. 
  • Click OK.

Once setup is complete, you can email your customers an invoice with a Pay Now button, and they can pay you online.

Back Restart
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