October 22nd, 2024
General Overview of Stripe
Integration: Stripe is Quipli's supported payment processor for credit card and ACH payments.
Fees:
Credit Card: 2.9% + $0.30 per transaction.
ACH Payments: 1% fee for payments up to $1,000; $10 flat fee for payments over $1,000.
Fee Configuration: Access via Admin Console > General Settings > Options.
Transition recommended from "location fee" to dedicated credit card fee.
Turn off location fees by disabling (do not delete, to preserve historic payment history).
Pass-Through Fee: Option to pass Stripe fees to customers, listed as a line item post-transaction (not shown on the invoice beforehand, though it is noted on the downloadable contract). Most customers have this enabled. If turned off, a fixed fee or percentage can be set instead, though this isn't recommended.
GL Mapping: A dedicated GL account (type: income, non-tax) can be created for credit card fees and linked under Accounting, General Ledger Settings, Processing Fee Income Account, so fees reconcile properly in the GL report.
Stripe Terminal
Device: Allows swiping cards directly instead of manual entry; available for purchase or lease through Quipli by contacting support.
To use it, select Swipe Credit/Debit Card as the payment method when paying an order, then follow the prompt to swipe.
Payment Codes
Decline Codes: Logged in the Admin Console under an order's Payment History section, shown in red when declined.
3D Secure: Requires renter verification with their card issuer; indicated by a "Requires Action" status in payment history. If notifications are enabled, the renter receives an email and/or text with a link to confirm payment; once confirmed, the status updates to "Succeeded."
Admin Console Review
Stripe Setup: If a "Stripe account requires review" pop-up appears, go to Settings, Stripe Setup, Edit Information to update company details in Stripe and avoid a pause on payments.
Accounting Section:
Stripe Payments: View all transactions (credit card and ACH), with detailed views available per payment.
Payouts: Shows past and in-transit payouts along with overall Stripe account balance.
Payout Reconciliation Report: The most detailed view, showing every payout that hit your bank account, a breakdown of each transaction (including invoice number), total charged, credit card fee taken by Stripe, and net amount deposited. For QuickBooks integration users, this report should be used to account for Stripe fees as an expense when recording deposits, since payments sync over at the total amount including the fee.
Dispute Process
Disputes are now managed entirely within Quipli under Accounting, Stripe Payments, Disputes, without needing to go through Quipli support.
When a dispute occurs, Stripe debits your account balance by the disputed amount plus a $15 dispute fee, and holds those funds until a decision is made, which can result in a temporary negative Stripe balance.
Security Deposits
The payment method on the order must be a credit card at the time of approval for a security deposit hold to be placed.
The hold covers the security deposit amount plus the estimated credit card fee, and remains for the duration of the rental.
The full or a partial amount can be captured at any time from the order's Security Deposit section. Capturing a partial amount automatically releases the remaining held balance.
If the deposit is never captured, it automatically falls off once the order is marked as inventory returned. There is also an option to capture the deposit directly from the inventory return screen.
Common Questions
Should I still use a location fee as my credit card fee?
No, switching to the dedicated credit card fee setup is recommended. A location fee only applies to the cart total and won't apply to delivery, damage waiver, or tax, so it won't accurately match Stripe's actual fee. Disable (don't delete) the old location fee to preserve historic payment records, then enable the pass-through fee under General Settings, Options.
Will my customer see the credit card fee before they pay?
It will be noted on the downloadable contract beforehand, but it only appears as a line item on the invoice after the card has been run.
What does "Requires Action" mean in payment history?
This typically indicates 3D Secure verification is required. The renter will get an email and/or text (if notifications are enabled) with a link to confirm the payment with their card issuer.
Where can I find the invoice number tied to a specific payout?
The Payout Reconciliation Report under Accounting provides the most detailed breakdown, including invoice numbers for each transaction within a payout.
If I use the QuickBooks integration, how should I account for Stripe fees?
Payments sync to QuickBooks at the total amount including the credit card fee, so use the Payout Reconciliation Report to record the Stripe fee as a separate expense when reconciling deposits.
Do I need to contact support to manage a Stripe dispute?
No, disputes can now be fully managed directly in Quipli under Accounting, Stripe Payments, Disputes.
What happens if I never capture a security deposit?
It will automatically fall off once the order is marked as inventory returned. You can also choose to capture it from the inventory return screen before that happens.