Understanding Stripe Payments

Customer Payments

Stripe is Boppl's payment processing partner. As part of your venue setup you will connect a Stripe account in order to take payments from customers. At the end of each day, funds for orders made via Boppl or your branded application will be settled to your Stripe account (less Stripe's processing fees, which are applied per transaction/order). Read on for more info on how these funds are then released to your nominated bank account. 

Please contact us for info on Stripe's processing fees. 

                                                                                                                                                                   

Payout Schedule

When a payment is first received in your Stripe account, it is initially reflected as a pending balance (less any Stripe fees). This balance becomes available according to your payout schedule. By default, Stripe automatically processes payouts of your available account balance to your nominated bank account based on your payout schedule. 

Venues in Australia will be on Stripe's 2 day rolling payout schedule, outlined below. 

Day of Order (*UTC) Day of Payout
Tuesday Thursday
Wednesday Friday
Thursday Monday
Friday Tuesday
Saturday / Sunday / Monday Wednesday

* Stripe groups customer payments and processes your payouts according to the UTC timezone. AEST is generally 10hrs ahead of UTC, so some orders may be grouped and paid out +/- 1 day from the day the order was made in local time. Boppl provides a report in the admin console which takes this into account to help you understand your payments; read on for more info. 

                                                                                                                                                                   

Reconciling Stripe Payouts / Bank Deposits

Amounts received in your bank account will not be equal to the total value of orders made on a particular day of trade as shown in your POS (or in any reporting that uses your venue's local time). This is due to the way Stripe groups payments for payout (as explained above). 

Below you will find an outline of some reports that can be useful when reconciling. 

1. Stripe Payout Report

Use this report to answer questions like...
"Where is the payout that should have reached my bank account today?"

The amounts shown here will match directly with those received in your bank account. Use the Export option for more detailed data. 

2. Boppl Payments By Day Report

Use this report to answer questions like...
"How much have I paid in processing fees for the past X days/weeks/months?"

  • Go to your Boppl Admin Console 
  • Click Reports in the toolbar at top of screen
  • Select Payments By Day from the side menu
  • Enter the desired date range and select Group By: Arrival Date
  • Click Run report

The daily totals in the Payment Due column should correspond with the amounts received in your bank account. If there is any slight discrepancy, it will balance out the following day (this would be due to subtle variations in Stripes processing times). Scroll down for a description of the columns included. 

3. Boppl Payments By Order Report

Use this report to answer questions like...
"What orders were included in the Stripe payout I just received in my bank account?"

  • Go to your Boppl Admin Console 
  • Click Reports in the toolbar at top of screen
  • Select Payments By Order from the side menu
  • Enter the desired date range and select Group By: Arrival Date
  • Click Run report

 

This report groups the individual orders using Stripe's timezone so that you can understand the makeup of each Stripe payout received in your bank account. Scroll down for a description of the columns included. 

 

Column Description
Trading Date Day the order was made in local time
UTC Date Day the order was made in UTC time
Arrival Date Expected arrival date of the payout
Order Amount Total value of order (before discounts)
Payment Amount Total paid by customer (after discounts)
Payment Fee Stripe's processing fee for the transaction
Payment Due  Payout due (total for each day)

                                                                                                                                                                   

Exporting Your Data

You can export raw data from Boppl Reports using the small icon in the upper right corner of screen, shown here. Click this and then select 'Excel' or 'CSV'

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