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Intergration with Stripe and Xero - Accounting for Stripe Fees

  • 27 July 2023
  • 1 reply
  • 72 views
T
Userlevel 1

In Settings > Payment Provider, it is possible to toggle on or off “Request Stripe fee from clients for invoice payments”.

Unfortunately, if I toggle it off, SB does not deduct the Stripe fee before sending the payment details to Xero. This means the Stripe fee has to be manually entered when reconciling the Stripe fee in Xero.

However, Stripe definitely does deduct the fee, which means that when the payment comes through from Stripe it does not reconcile with the Xero transaction from SB.

It would be great if, when the option to recover the fee from the client is toggled off, SB included the Stripe fee in the transaction that gets sent to Xero.

P.S. sorry about the misspelling of integration in the subject line - I was unable to edit it out.

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Best answer by Jess 28 July 2023, 03:41

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Jess
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Userlevel 2

Hi Thomas, 

Thank you for that feedback!

I’ll record this & discuss options with our developers. We’re always looking at ways we can continue to develop & improve our integrations.

Just noting here for others that may find this thread helpful:
You can choose to pass Stripe fees onto your clients for invoice payments in firm settings, (as Thomas mentioned) which will remove the need for an additional entry in Xero, however we understand that not all firms will want to pass on the fees to their clients. We’ll continue to look at options to assist with this.

Thank you again Thomas!

Kind regards,

Jess

PS. I wouldn't have noticed the subject line 😁

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