How Do I Accept Online Payments With Stripe?
Stripe (for Canada and US businesses) and FreshBooks Payments Powered by Stripe (for international businesses) is one of our many online payment processors (also known as payment gateways) to allow you to receive online payments in several currencies with credit cards including Apple Pay, and bank transfers (ACH).
- Availability - For international businesses
- Transaction Fee - See Stripe’s list of transaction fees
- Setup - Quick to create an account, no setup, monthly or cancellation fees
- Processing / Payout Schedule - Payments are processed and settled depending on whether it’s your first payout or not, and your business’ location
- Statement Descriptor - Your clients will see "business_name" on their statements, to customize this, see Stripe's details here
- Chargebacks - See Stripe’s disputes and fraud process here
Set Up Stripe
Set up your new or existing Stripe account in your Online Payments Settings with the below steps:
- Ensure you have a Country selected in your Business settings first
- Click on the gear icon in the top left corner
- Then click on Online Payments Settings
- Next, click on Connect with Stripe
- In the new window, enter your Email and click Next
- If you have an existing Stripe account, enter your Password to log into it
- Then choose the account you'd like to connect to FreshBooks and click Connect
- Or click on Create a new account instead to make a new Stripe account
- Otherwise, create a new Password to set up a new Stripe account and click Next
- Enter your business details, payout details and support information as needed
- Review your Stripe account details and click Submit to finish your setup, you'll be taken back to FreshBooks.
- You can also set up your Stripe account while making a new Invoice by clicking on Connect under Accept Online Payments
Enable Stripe on Invoices
Once your Stripe account is connected, you can begin accepting payments with Stripe using the below steps:
- When creating an Invoice, click on the Accept Online Payments option in the Settings panel to the right of the invoice
- Check off the box(es) next to Accept Credit Cards and/or Accept ACH Bank Transfer (available for US businesses and clients only). If both are checked off, your Clients can pay by either Credit Card or Bank Transfer on this Invoice. If only one is checked off, your Clients can only pay by the selected option
- If you want your Clients to be able to pay the Invoice partially (even with Bank Transfers or Payment Schedules enabled as well), check off Allow Clients to make partial online payments for this Invoice
- Click Done to finish applying the payment settings and continue editing the rest of your Invoice.
- Stripe has a $6000 USD limit on Bank Transfers (ACH) for new accounts
- To see what the experience looks like for your Clients when paying by Stripe, go here (or Apple Pay here)
Why do I see my clients' information as a customer profile inside my Stripe Dashboard?
This is part of our PSD2 compliance with Stripe's current API, where any credit cards that are saved by you or by the Client will automatically show up as a customer profile inside your Stripe Dashboard. If the customer profile from the Stripe Dashboard is deleted, this will cause any of your Recurring Templates with saved credit cards to fail, and you or the Client will need to re-enter the credit card details. This will recreate the customer profile in your Stripe Dashboard and the Recurring Template will continue to generate auto-paid Invoices moving forward.