Reconcile Stripe payments through Sage Business Cloud
Description

About Stripe

Stripe is a secure online payment provider that connects directly to Sage Accounting Start. It lets you add a Pay Now button to invoices so customers can pay online.
You need a dedicated Stripe account to use the integration. Stripe charges transaction fees, which appear automatically in Sage Accounting Start and can be reviewed when you set up your account. To get started, connect your Stripe account to Sage.
Cause
Resolution

How stripe payments are processed

  1. Create and send an invoice to your customers.
  2. The customer pays using the Pay Now button on the invoice.
  3. The payment goes into your Stripe account.
  4. Stripe then transfers the funds to your chosen business bank account minus any fees.

In Accounting we replicate this journey by creating a Stripe bank account under Banking. The Stripe account records transactions from customers who use the Pay Now button, then transfers the pay outs to the specified bank account in Sage.


Payments made directly through stripe.com

If a customer pays through the Stripe website instead of using the Pay Now button, Accounting Start can't match that payment to a Sage transaction.

This causes differences when Stripe transfers funds to your bank account.

For example:

  • A customer partially pays £100 of an invoice through Accounting Start
  • The same customer pays another £50 directly through Stripe
  • Stripe transfers £150 to your bank account
  • Accounting Start only recognises the £100 payments and lists the £50 as an unknown transaction

The extra £50 goes to through the suspense account and excludes VAT.



Steps to duplicate
Related Solutions

Benefits of using Stripe

How to connect Stripe to Accounting

How to view your Stripe activity in Accounting

How to view the Stripe dashboard

Refund a card payment via Stripe

Stripe – Why was a customer’s card payment declined?

Disconnect your Stripe account from Accounting