How do I accept online payments with FreshBooks Payments powered by Stripe?

• FreshBooks Payments Details
• Set Up FreshBooks Payments
• Activate FreshBooks Payments on Invoices

FreshBooks Payments Details

• Availability - For businesses in Canada and the US
• Transaction Fee - Review FreshBooks Payments’ list of transaction fees
• Set Up - Quick to create an account, no setup, monthly, or cancellation fees
• Processing / Payout Schedule - Payout speed depends on your business’ location and method of payment, review payout details
• Statement Descriptor - Your clients will view “business name” on their statements, to edit this anytime, review the Access Your FreshBooks Payments account section
• Chargebacks - A $15 dispute fee is charged for each dispute, review disputes and chargebacks

Set Up FreshBooks Payments

• Business background and contact details - Industry, job title, business website or social media
• Business controller and owner details - Address, phone number, date of birth, last 4 digits of Social Security Number (SSN) or Social Insurance Number (SIN)
• Bank account details
  • Canadian businesses - Institution number, transit number, account number
  • US businesses - Your online banking’s login information

1. Ensure you have a country selected in your Basic Information settings first
2. Go directly to Online Payments here, or select the Settings section
3. Under Connections and Integrations, select Online Payments
4. Next, select Get Started with Online Payments
   
   
   
   
5. The email address associated with your FreshBooks account will be pre-populated, enter in a new Password for your new FreshBooks Payments powered by Stripe account and select Next
   1. Enter a Phone Number, then select Send text
      1. Or if needed, select the authenticator app link to use an authenticator app
      2. Or if needed, select the security key text to use a security key
   2. If asked to verify with a verification link via email, the verification link must be copied and pasted in the same browser window as the one FreshBooks Payments is being set up in
   3. Then enter the Code from your device or authenticator app, or use the security key
   4. Next, save your emergency backup code by selecting Download code or Copy Code and store it somewhere safe
   5. Select Next
6. Choose your Type of Business, then select Continue
   
   
7. For personal details, enter your First Name and Last Name as specified on your government-issued ID or with government agencies like the IRS or CRA
   1. Then enter your Email Address, Job Title, Date of Birth, Home Address, and Phone Number
   2. For US-based businesses, enter the Last 4 Digits of your Social Security Number
   3. Then select Continue
8. For business details, if available, enter a Tax Number
   1. Next, choose an Industry
      
      
   2. If needed, enter a Website - note that if you enter an eligible website, the website must include the following:
      • A website that is active and not under construction
      • The business name clearly displayed and matching the business name of your Stripe account
      • Showcases your business’ product and/or services with descriptions, images, or listings
      • Clearly states pricing details
      • A visible refund or cancellation policy
      • Fulfillment information on delivery timelines and digital access processes
      • A way for clients to contact the business by phone, email, and/or contact form
   3. Next, include a Product Description of what products or services your business sells
   4. Select Continue
9. For your bank information, either login to your bank account online and choose an account, or enter your bank account's details manually and select Continue
10. For your public details, specify a Statement Descriptor and Shortened Descriptor that will appear on your clients' statements
    
    
    1. Next, review or enter a Customer Support Number, and if available, a Customer Support Address
    2. Then select Continue
11. In the review section, ensure your information is correct, then select Agree and Submit. You'll be taken back to FreshBooks.

• Once your FreshBooks Payments powered by Stripe account has been set up, review How do I manage my FreshBooks Payments account? for information on your account’s status, payouts, disputes, and more
• Once your FreshBooks Payments account’s Online Payments status is set to active, you can begin accepting payments on your invoices, recurring templates, and more
• Your Payouts status must be set to active to receive the payments in your connected bank account

Activate FreshBooks Payments on Invoices

1. When creating an invoice, under Settings, select the Accept Online Payments option
   
   
2. 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
   
   
3. If you want your clients to be able to pay the invoice partially (even with bank transfers or payment schedules activated as well), check off Allow Clients to make partial online payments for this Invoice
   
   
4. Select Done to finish applying the payment settings and continue editing the rest of your invoice.

• To view what the experience looks like for your clients when paying by FreshBooks Payments, review As a client, how do I pay an invoice with online payments? here, or review for Apple Pay here
• Only one payment can be processed at a time on an invoice to prevent accidental double payments