What do I need to know about moving to Stripe?

Here are some important details about moving to Stripe. Please contact Support if you have any questions.

When are Merchant Fees deducted?

Merchant fees will be deducted from each merchant batch instead of billing at the end of the month. Here are some new features to assist in the transition.

  • Change GL Batch to include Merchant Fees as a line item – This will reduce CASH so that GL Batch will still balance to what is in your bank account.
  • New Merchant Batch Search – This will allow you to quickly see deposits by month. Shows Total Payments, Fees and Net deposit.
  • Update Payment Audit by Merchant Batch Report – Will show gross payments minus fees to show your net deposit.

How do I update the Merchant Fee GL Code?

You can update this GL Code under the Payment Processor.

How do I reconcile?

Here is an article that walks through how to reconcile your Merchant Batch to your General Ledger.

When do Merchant Batches post?

  • Credit Card – 1-3 business days after batch is created.
  • eCheck – 5-10 business days after batch is created.

What do Merchant Batch IDs look like?

Merchant Batch IDs in Stripe begin with po_1 and look like the following:

  • po_1HBseG852APJfxL2tuRYkhgE

How will refunds be handled?

  • Payments will be refunded using the processor that was used when the original payment was processed.
    • If the payment was made on TogetherPay, the refund will be processed using TogetherPay.
    • If the payment was made on Stripe, the refund will be processed using Stripe.

Here are some helpful articles from Stripe with more details on refunds.

Will customer’s saved credit card be available?

Yes, any saved credit card from when you started processing with TogetherPay through December 14th, 2020 has been imported to your Stripe processor. We are running another batch for credit card tokens that were created from December 15th, 2020 through the end of January. There will be a third batch imported once all clients are moved over to catch any remaining saved credit cards.

Note – Any credit cards that were declined or expired were not included in the import.

How does eCheck processing work?

With Stripe, eCheck and credit card processing are combined into one processor. For security, when a customer checkouts using an eCheck on CT6 Registration Site, they will be asked to login to their bank account via Plaid. Once they do so, they will be able to complete the payment.

Do we still have access to TogetherPay?

  • You can still access TogetherPay moving forward for payments processed in TogetherPay.
  • The Merchant Batch Search and Payment Search will replace the functionality in TogetherPay.

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