Stripe QuickBooks Integration

When it comes to processing a payment, any business doesn’t want to stick with the legacy platform which they are currently using. They must look for advanced and automated processes for their accounting activities. The right software allows an organization to integrate old programs with new ones. This is the case when users want Stripe QuickBooks Integration for some specific features. This blog helps out by giving you all relevant information related to Integrating and synching the Stripe platform with your QuickBooks. So, continue reading this blog till the end. 

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Let’s know first about the Stripe and QuickBooks Platform

For digital payments, Stripe and QuickBooks are prominent AP tools. Stripe payment processing is essential for any organization that conducts business online. Users may pay bills and automate Stripe transactions in QuickBooks with the Stripe and QuickBooks Integration.

Stripe has a wide range of customers, from small enterprises to large corporations. QuickBooks is largely targeted for small and medium-sized businesses. Despite the fact that Stripe (by Intuit) interfaces with QuickBooks, this post will focus on the Stripe QuickBooks Integration.

How do Stripe + QuickBooks Integrations work?

The entire integration is a 5 step procedure:

Total Time: 5 minutes

  1. Step One

    Authenticate QuickBooks Online + Stripe 

  2. Step Two

    Choose one of the applications to serve as a trigger for your automation

  3. Step Three

    Choose a resulting action from the other application 

  4. Step Four

    Select the data that you want to send from one application to the other 

  5. Step Five

    Finally, more time to work on other things. 

How do I add stripes to QuickBooks?

Before you can integrate the software products, you must first create a Stripe account and a QuickBooks account. Stripe does not own or control the third-party QBO Stripe connection apps. QuickBooks interfaces with PayPal and Square are available in some Stripe applications.

Application Integration 

QuickBooks, and QuickBooks Accountant (for each client), and the QuickBooks App Center are all places where a company can find apps. To connect Stripe to a QB account, follow the instructions provided by the third-party app you choose.

  • On the left-side navigation menu, select the “Apps” button 
  • Find the Stripe apps 
  • Now, click each tile to look at features and reviews for the app and then choose the right one for your business.

When looking for Stripe third-party apps in QuickBooks, you’ll come across platforms from a variety of organizations. Before making a purchase, always read the user reviews. There will be a lot of favorable feedback if it’s a good brand.

Supported Triggers and Actions

Triggers

Canceled Subscription
Triggers when a subscription is canceled (by a subscriber or due to end of billing period).
New Charge
Triggers when someone’s credit card is charged.
New Coupon
Triggers when you add a new Stripe coupon.
New Customer
Triggers when a new customer is added.
New Invoice
Triggers when a new invoice is created (supports line items).
New Event
Triggers when a new event like a dispute, subscription, or transfer is added.
New Order
Triggers when a new order is created.
New Invoice Item
Triggers when a new invoice item is listed.
New Refund
Triggers when a new refund is created.
New Plan
Triggers when you add a new Stripe plan.
New Payment
Triggers when a new payment is completed.
New Account
Triggered when you add a new account.
New Bill
Triggers when a new bill is added.
New Customer
Triggered when you add a new customer.
New Estimate
Triggered when you add a new estimate.
New Expense
Triggers when a new expense is added.
New Invoice
Triggered when you add a new invoice.
New Invoice
Triggered when you add a new invoice (with line item support).
New Sales Receipt
Triggered when a new sales receipt is added (with line item support).
New Payment
Triggered when a payment is received (with line item support).
New Purchase Order
Triggers when a new purchase order is added.
New Sales Receipt
Triggered when a new sales receipt is added.
Updated Customer
Triggered when an existing customer is updated.
New Vendor
Triggered when a new vendor is added.

Actions

Cancel Subscription
Cancels an existing subscription.
Update Customer
Updates a customer.
Create Customer
Creates a new customer.
Create Subscription
Creates a new subscription.
Find Customer
Finds an existing customer by their email address or Stripe ID.
Find Charge
Finds an existing charge by its Stripe ID.
Find Subscription
Finds an existing subscription.
Create Bill (Item Based)
Create a new bill, optionally tied to a customer.
Create Bill (Account Based)
Create a new bill, optionally tied to a customer (with line item support).
Create Bill (Item Based)
Create a new bill, optionally tied to a customer (with line item support).
Create Credit Memo
Creates a new credit memo.
Create Customer
Adds a new customer.
Create Estimate
Create a new estimate (with line item support).
Create Expense
Creates a new expense using check, cash, or credit card.
Create Product/Service
Creates a new product or service.
Create Journal Entry
Creates a new journal entry.
Create Invoice
Adds a new invoice (with line item support).
Create Sales Receipt
Adds a new sales receipt (with line item support).
Create Payment
Creates a new payment, optionally linked to an invoice.
Create Purchase Order
Creates a new purchase order.
Create Refund Receipt
Creates a new refund receipt.
Send Invoice
Send an existing invoice.
Send Sales Receipt
Send an existing sales receipt.
Create Time Activity
Creates a new single time activity.
Update Customer
Updates an existing customer.
Update Invoice
Updates an existing invoice (with line item support).
Create Vendor
Adds a new vendor.
Find Account
Find an account by name.
Find Customer
Find a customer by name or email address.
Find Invoice
Find an invoice by number.
Find Product(s)
Find a product by name (with line item support)
Find Vendor
Find a vendor by name.
Find or Create Customer
Finds or creates a specific customer v2.
Find or Create Vendor
Finds or creates a specific vendor.

Steps to record Stripe Payments in QuickBooks

Although you may manually record Stripe transactions in QuickBooks without using third-party software, the method is completely not efficient.

The additional SaaS subscription expenses for Stripe QuickBooks integration are well worth it. You save time by not having to manually enter data when you automate recording Stripe transactions in QBO via app integration.

A line item for sales tax appears on receipts. Stripe data will account for sales tax on sales transactions performed through Stripe using credit card payments. Only Excel and CSV files can be imported into QuickBooks without the Stripe to QB interface. Stripe uses the iif file type.

Importing data into QuickBooks without the Stripe to QB interface is limited to Excel and CSV files. Stripe uses the iif file format. If you don’t utilize a third-party integration program, QuickBooks support recommends exporting Stripe data in CSV format or copying Stripe data to Excel and then importing it into QuickBooks.

Reconcile stripe payments in QuickBooks

Reconcile the Stripe funds received with the Stripe processing fees deducted for each successful credit card transaction after you’ve synced from Stripe to QuickBooks.

Synder, a QuickBooks Online third-party program that usually solves QB common issues, provides these linked step-by-step instructions for reconciling Stripe transactions in QuickBooks.

Steps to reconcile stripe payments in QuickBooks:

Syncing everything into a “clearing” account in the QB Chart of Accounts is the most precise approach to record all Stripe sales, fees, and refunds. The software will first create a “Stripe Bank account.” When you withdraw money from your Stripe account to your bank account, the app will record a transfer from your Stripe Bank account to your Checking account, allowing you to see the actual money flow. When funds are initially received in your Stripe account and then moved to your bank account using Stripe QuickBooks integration.

  • Create a QuickBooks Online “Stripe” checking account or let Synder do it for you
  • In the Synder dropdown menu for Transfer Payments to enable payouts and select your checking account for depositing funds from Stripe payouts
  • Manually sync Stripe transactions or set up an auto-sync
  • Click “Match,” which is next to each Stripe payout in the For Review list in the QuickBooks Banking menu
  • According to Synder, money may take 3-7 days to arrive in your bank account after Stripe completes the transaction
  • Reconcile your Stripe checking account with your QuickBooks transactions that were automatically logged by Stripe.

Winding Up!

Moreover, QuickBooks allows integration with a number of third-party apps and software as well. You can search for the app from the App Center to verify if Stripe integrates with QB. Integrating Stripe and QuickBooks is very simple. With the connection of QuickBooks and Stripe easily and automate your bookkeeping. Syncing Stripe payments into current QuickBooks invoices or automatically creating invoices. Additionally, you can create your custom integration workflows between payments, accounting, and other apps.

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Are you still not able to resolve your QuickBooks Integration issue? We have a team of QuickBooks Integration experts with years of experience in resolving errors and issues. If you need any help asap, CHAT NOW with our experts.


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