Stripe Billing Integration
In this article, we will walk through the basic workflows with the Stripe Billing Integration. For details on setting up your Stripe, please see 📄 Set Up Stripe Integration
Syncing Customers, Subscriptions and Invoices
Once you've set up your Stripe integration, Stripe Customers, Subscriptions and Invoices will automatically sync into Rillet in real time.
Customers
Stripe customers will automatically be created in Rillet once there is an active subscription or open invoice in Stripe. You can see that a Rillet customer is linked to an existing Stripe profile on the Customer's overview.
The information from the Customer Profile that will sync into Rillet is as follows:
Customer Name
Customer Email
Billing Address
Shipping Address
What if there is no customer name in Stripe?
Subscriptions
Any active subscriptions will be automatically synced into Rillet in real time (< 1 min after creation in Stripe). You can see all Stripe subscription in the Contract List where all Stripe Subscriptions will have a status of 'Imported (Stripe)'. Within the contract list you will be able to click on the pop out arrow to navigate directly to the subscription in Stripe.
You can also view the GL Impact of the subscription by selecting the 3dots to the right of the subscription line. The total value of subscription will be the total amount of invoices which have been issued related to the subscription in Stripe.
Invoices
Similar to customers and subscriptions, invoices will be synced within seconds once created in an Open or Paid status in Stripe. These invoices can either be found within the Invoices List or by navigating directly to the relevant customers' invoices.
Once within Rillet, you can directly click on the Invoice number to see the invoice details directly within Rillet
Syncing Invoice Payments and Transaction Fees
On any Stripe invoice you can see which payment have been matched to the related invoice:
Each Stripe transaction is individually reconciled to the invoice through the use of a Stripe Bank Feed. To view this detail navigate to the Cash Reconciliation and select the Stripe balance account from the All Accounts listing.
Once the Stripe account is selected you will be able to see all the individual Stripe transactions that make up the Stripe balance payouts including invoice payments, fees, chargebacks, refunds etc.
If you select any individual transaction you can view the details of the payment including the breakout of Invoice Payments and Payment Fees.
In this example, the total amount received is $96.80 which is the net of a +$100 invoice payment and a -$3.20 fee, which are both recorded automatically at the time of payment.
Stripe Payouts
Stripe Payouts are treated as a Transfer from your Stripe Bank account to your Checking Account, therefore they are auto-matched in a similar method to any other bank to bank transfer, where the Stripe account is credited (reduced) and the Bank Account is debited (increased)
The resulting journal entry is as follows:
If you ever need to record the transfer manually, select the related payout from the Unmatched listing and select Transfer :
Once you've selected one side of the transfer, select the other bank account and the related other side of the transaction. You will then be able to use the Create Transfer and Match to finalize the transfer.
Syncing Credit Notes & Voided Invoices
Credit notes and voids within Stripe will both sync as Credit Memos in Rillet. We will cover both in this section.
Credit Notes
Credit Notes in Stripe will be synced into Rillet as Credit Memos (CM). Credit notes in Stripe have three main paths based on the method used to settle the credit.
Applied to an open invoice - If the credit note was used to reduce the balance of an open invoice, then the Credit Memo will be automatically applied to the invoice in Rillet and the CM will have a status of "Applied".
Refund Issued to the customer - If the credit note created a refund, the credit memo will be created with a status of "Unpaid" and then will be automatically matched to the refund in the Bank Feed once paid.
Customer Balance Created - If the credit creates an open customer balance, Rillet will create the invoice with a status of Unpaid. This can be matched to a future invoice or future refund once created.
Voided Invoices
Anytime an invoice is voided in Stripe, Rillet will automatically create a credit memo for the full amount of the invoice and apply the credit directly to the invoice.
Void credits will be identifiable by the word "VOID" + the invoice number as the transaction number.
The related revenue recognition for the void will not impact any dates prior to the Void Date (credit memo date) ensuring that no changes to prior month rev rec are made.
Rev Rec with Stripe Sync
When working with Stripe invoices, revenue recognition start and end dates are based on the Billing period set within Stripe on each line item.
Revenue Start Date - Billing Period Start Date
Revenue End Date - Billing Period End Date
Rev Rec Pattern - Determined based on the product set up within Rillet on the Product Listing.
Revenue GL Account - Determined based on the product set up within Rillet on the Product Listing.
If the invoice date is after the revenue start or end date, any revenue attributable to dates prior to the invoice date will be recognized on the invoice date unless you are using special Accounting Settings to allow recognition prior to the invoice date.
You can also use the Adjust Revenue feature to add or change the revenue dates synced from Stripe. Navigate to the 3dots menu from the Invoice or Invoice List and select Adjust Revenue. To update the dates, input alternative dates within the Adjusted column and press save.
To view the GL Impact of Revenue recognition for Stripe invoices either use the GL Impact on the invoice for standalone invoice or GL Impact on the contract for subscription invoices.
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