Reconcile Stripe payments through Sage Business Cloud

You must create a new Stripe account just for Accounting to get started.

Stripe charges a transaction fee that you can review before creating your account. The fee is entirely transparent, and there is no waiting for approval, meaning you can start taking card payments immediately.

1. Create an invoice for your customer to send to your customer. The invoice PDF contains a Pay Now button that links to your Stripe bank account.
2. Your customer pays the invoice using the Pay now button. The money is paid into your Stripe bank account and recorded in Accounting less the Stripe transaction fees. Your Stripe fees are recorded to ledger account 7900 - Bank Charges and Interest by default.
3. Once the customer has paid their invoice, Stripe transfers the money to your chosen business Bank account.

Connect Stripe to Sage Accounting

1. From Settings select Apps and Connections, then select Stripe.
2. To create a new Stripe account, select Create Account then Create Account again.
   If you have a Stripe account already and have created a new (unused account) from the Stripe dashboard to use with Accounting, select click Sign in then Sign In to Stripe.
3. Enter the details required by Stripe to set up an account and select Authorise access to this account.
4. In the Manage Connection menu, set the ledger account where your Stripe fees will be recorded. Like before, you should make sure that the ledger account is set to 7900 - Bank Charges and Interest by default.
5. Select where your payouts will be transferred. Your payouts will transfer to your chosen bank account when creating your Stripe account.
6. Save any changes. Stripe payouts will then transfer to your nominated bank account every two weeks.

Manage payments sent directly through stripe.com

If a customer has sent their payment directly through the Stripe website rather than paying their invoice using the Pay Now button, this could show a disparity when the payout is processed in Sage Business Cloud. This is because we don’t recognise this website payment as a known transaction.

For example, if your customer pays you £100 through Sage Business Cloud, and £50 through the Stripe website, we’ll recognise that £50 payment as an unknown transaction.

In this instance, Sage Business Cloud would process a payout for £150 to ensure your business’ current account balance is accurate. The £50 website payment will be processed differently using the suspense account in Sage Accounting, which will not include VAT on the receipt of the transaction.

You would need to create a new journal to reverse the effects of this transaction. The journal needs to credit the bank account £50 and debit the suspense nominal by £50. You would then need to post a new receipt with the correct Net and VAT amounts for Sage Business Cloud to process.

Using Stripe for card payments

Connect to Stripe

Viewing your Stripe activity in Sage

View the Stripe dashboard

Refund a card payment via Stripe

Stripe – customer’s card payment declined

How to disconnect Stripe integration