Stripe - Zoho Books Integration
Stripe is one of the world’s leading online payment service providers helping individuals and businesses to accept payments online. Stripe merchants can integrate with Zoho Books to track their sales and payments they receive on a daily basis.
This integration will help you track the overall sales that takes place in Zoho Books using Stripe, the amount deposited by Stripe, and the fee Stripe charges you.
Stripe supports multi-currency transactions so your international customers can pay you in their own currencies.
In this page…
- Set up the Integration
- Receive Payments through Stripe
- Track Stripe Transactions in Zoho Books
- Track Transactions in Stripe
- Edit the Integration
- Delete the Integration
Set up the Integration
To set up your integration, you will first have to connect your Stripe account and then configure the integration to start tracking payments.
Connect your Stripe Account
If you have a Stripe account already, you can easily connect it with Zoho Books. To do this:
- Go to Settings > Online Payments.
- Click Set up Now and you will be redirected to Stripe.
- Enter your login credentials and click Sign in/Sign up.
- Select your account and click Connect my Stripe Account in the following page.
You will be redirected to the configuration page of your Zoho Books account to finish setting up the integration.
Configure the Feed Integration
Once you have connected your Stripe account, you can configure Stripe feed integration. Configuring the feed integration fetches the transactions from Stripe which helps you match the transactions easily.
Notes: The feed integration will start fetching the transactions a day after it is setup, after which the transactions will be fetched on a daily basis.
Click the Configure Bank Account button and you will have the following options:
Account where Stripe transfers the money:
Select the bank account where Stripe transfers the money. Choose from bank accounts that are already added to Zoho Books or add a new one.
Account which tracks the money held by Stripe:
Provide a name for the account which will track the money held by Stripe in the Banking module. By default, it is called the Stripe Clearing account. This will be a Payment Clearing type account.
Insight: Zoho Books supports Stripe accounts that holds bank accounts with multiple currencies.
Map the accounts to track the transaction fees and the payments received through Stripe for your sales transactions.
Fees Account: This account tracks the fee charged by Stripe for the transactions processed through the payment gateway. By default, the Stripe Fees account is selected. You can click the dropdown to select a different account. The account type will be Expense.
Sales Account: This account tracks the total sales transaction using Stripe. By default, the sales account is selected. You can click the dropdown to change the account. The account type will be Income.
- Click Save.
You have now successfully integrated your Stripe account.
Receive Payments through Stripe
Once you have integrated Stripe with Zoho Books, your customers can directly make a card payment to you through Stripe for the invoices sent to them. Here’s how:
- Go to the Invoices module.
- Create a new invoice or edit an existing invoice for which you want to receive payments.
- Enter the necessary details.
- Check the box near Stripe under payment options.
- Click Save and Send.
Insight: Your customers can make transactions through bank account (ACH Payment) as well.
Once you have enabled payment options, your customers can make payments from their client portal or from the invoice link shared with them via email. Here’s what your customer’s will have to do:
- Click the Pay Now button in their email or portal. Your customer will be redirected to the payment page.
- Select Pay via Card or the preferred payment option and enter the necessary credentials.
- Click Make Payment to complete the payment.
Notes: The online transaction fees will depend upon the charges specified by Stripe.
Track Stripe Transactions in Zoho Books
All the transaction that takes place through stripe is fetched and displayed in the Stripe clearing account. You can track and monitor the transactions that takes place on a daily basis from Zoho Books. Here’s how:
- Go to the Banking module.
- Click Stripe Clearing from the list of accounts (this account will be created automatically once the integration is complete).
- Under the Overview Tab, you can view the Payment Clearing Summary graph and the recently added transactions.
- In the Transaction tab, you can view the list of all the transactions such as the consolidated sales that took place, the fee Stripe has charged, refunds if any, and the amount transferred to your bank account by Stripe.
Insight: After Stripe settles the money to the bank account, a transfer fund will be created from Stripe clearing to the specified bank account in Zoho Books. The transfer fund amount will be equal to that of the money deposited by stripe.
If there is any amount that Stripe owes you, you can view it from the Amount in Zoho Books column in the top left of the page.
Track Transactions in Stripe
This section will help you monitor the sales information of Zoho Books in your Stripe account. Here’s how:
- Go to Stripe > Home.
- View the Balance, Total Sales, Revenue, New Customers, etc., both in numbers and in graphs.
You can also check the payments accepted, refunds made and their breakups from the Payments tab. Transfers made to your bank account and the money Stripe owes you, can be checked from the Balances tab.
You can get detailed insights on the transactions made through Stripe in the Reports module of Zoho Books. Here’s how:
- Go to Reports > Accountant > Account Transactions report.
- Click Customize Report and click + Add Filters under Advanced Filters.
- Select the field as Account, the comparator as is in and the option as Stripe Clearing.
- Click Run Report.
To monitor the activities of this integration such as enabling the integration, updating settings, transfer of funds, etc:
- Go to Reports > Activity > Activity Logs.
- Click Customise Report in the top.
- Select Stripe from the Activity Related To drop down.
- Click Run Report to view Stripe related logs.
Edit the Integration
If you wish to offer multiple payment methods for your customers, you can do it by editing it. Here’s how:
- Go to Settings > Online Payments.
- Click Edit Settings.
- In the following page, click the Edit icon next to the Payment Method.
- You can choose Credit Card, Bank Account (ACH) or iDeal by enabling the checkboxes.
- Click Save.
Notes: iDEAL is a payment method in Netherlands which is exclusive to Netherlands customers. If the customer wishes to pay via iDEAL, then the customer’s currency in Zoho Books should be in EUR. You will have to enable iDEAL payment method in your Stripe account before enabling it in Zoho Books.
Pro Tip: If your stripe credentials expire, you can click the Refresh Token option from the dropdown next to the Edit Settings button.
Delete the Integration
If you feel you no longer want to use the Stripe integration, you can delete it. However, before deleting:
- Ensure all the invoices are in the Paid status and there are no pending transactions.
- Delete all customer cards and bank account details which were added to Stripe through Zoho Books.
Once these conditions are met, you can delete the integration. Here’s how:
- Go to Settings > Online Payments > Stripe.
- Click the Delete icon.
- Click Ok to confirm.