Why and when does money go to a Stripe holding account and what process do I need to do to get the money in my bank account?
All my previous invoices have gone straight to my bank account but now suddenly I have a payment in Stripe Holding
When you take payments using Stripe they charge the customer the full amount but deduct a percentage for their fees before sending you the rest. The holding account is how you reconcile this - your customer’s payment goes into the holding account to pay the invoice in full, then when stripe send you the net settlement payment this can be tagged as a transfer from the holding account to your current account. The left over balance in the stripe holding account represents the fee they charged you for the transaction.
Once a month Stripe issue you an invoice for all their fees for that month, you can record that invoice as a purchase in QuickFile and mark it as paid from the holding account to use up the surplus balance.
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I understand that but don’t know why every other customer (18 so far) the payment has gone directly to my bank account but suddenly this one is via Stripe?
Do you mean that previous Stripe payments have appeared in your QuickFile “current account” instead of the holding account, or are you asking why your customer has had the option to pay by card using Stripe when all previous customers have paid you by direct bank transfer?
iM VERY NEW TO QUICKFILE SO DON’T REALLY KNOW WHAT MY CUSTOMER SEES/WHAT OPTIONS THEY ARE OFFERED. This is the first payment out of 19 that has gone through Stripe. I don’t know why?
Do you want your customers to be able to pay you via Stripe or not?
If you have configured Stripe in your account settings → manage payment options then it will be available as a payment option for all clients, when they click through to an invoice you have sent them there will be a “pay online” option at the top giving them the option to pay by card. If you want to see how this looks for a particular client you can go to the client details page and use the “impersonate” button at the top.
You can disable the Stripe option on a client-by-client basis but the only way to disable it across the board is to disconnect your stripe account from QuickFile altogether.
Hi
I think I understand now! I have my banking details on the invoices and most customers have done straight bank transfers. The link to pay digitally goes to Stripe and this customer is the only one so far in my new venture who has clocked on it! Hence my confusion…I thought the link took them to my bank details
Sorry for being so confused and thanks for the help
Sharon
Have you seen/used Crezco? That does online payments but does it via bank transfer rather than 3rd party merchant services like Stripe.
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