Here are our most frequently asked questions. For further inquiries, please contact us here.
Can you sync my Stripe refunds into QuickBooks Online and Xero?
Yes, we're proud to say that we're currently one of the few providers that can do this.
Can you separate my Stripe fees?
Yes, we love helping people separate their Stripe fees. In QuickBooks Online we'll place them in the expense account of your choosing.In Xero we give you the option to add the fee as a line item of the related charge's bank transaction or as a separate bank transaction in Xero. They can also be a line item for an invoice in both software.
Do you import historical data?
Right now we import the most recent 3 months of historical data once you have subscribed. Email us at email@example.com to get started - this is something that we handle on our end.
Do you support international versions of QuickBooks Online and Xero?
Yes, we're happy to say that our software will play nice with international versions and automatically default on the currencies you've set. We'll also convert the charge amount to the receiving account's current default currency with today's exchange rates. At this time we cannot place different currencies into their own account. However, you can connect different Stripe accounts to individual accounts.
Why would I want PennyPipe to move my payment gateway data to my accounting software?
Manually importing your income and refund data into accounting software is a pain. We help you reconcile your bank accounts by automating the records in an organized way Most payment gateways and accounting software can't do this right now. With PennyPipe, you can see each receipt or paid invoice from the income along with the Stripe fee, line by line, so you know that money earned and money spent are in the books.
How do you handle tax?
We allow you to set one flat tax code for most services. Due to the complexities of multiple city, state, and global tax codes it is difficult to map multiple tax codes. If you receive multiple tax codes we recommend a setting of "no tax" and adding the tax data afterward.
If you are using Shopify or WooCommerce, we can grab tax directly them and then apply that to the accounting entires appropriately.
Do you support Stripe and GST?
Not at this time. Because Stripe includes GST on some invoices and not others the issue is rather complicated. Email support to be added to our beta list for this issue.
Why do I need PennyPipe to reconcile my accounting?
We automate the entry of each individual receipt or paid invoice from your payment gateway as well as the related fees as expenses. We organize the data in a way that "stock" solutions do not. We allow you to go through line by line to make sure your income statements match up with your balance sheets.
Will you create new customers in QuickBooks Online and Xero?
In QBO we will create new customers based on email address. If a new email address is imported with a charge we will create a new customer. If the charge has an existing email address, the charge will be related to that existing customer.
In Xero, we don't create new customers but all of the bank transactions are linked by the common email address related to that charge.
Do you integrate with Stripe: Connect?
In QBO we'll create a sales receipt (or invoice) for the income and a separate expense(or line item) for the associated application fee.
We do not yet integrate Stripe: Connect with Xero Email us to be added to our beta list.
Do you have a test environment?
We allow you to send test or "dummy" data across by clicking on the "test" button. Click on the lightning bolt next to the pipe you'd like to test. We will send the data listed here. Here are some screenshots of what the data looks like in QuickBooks Online and Xero. Stripe also has test card numbers and functions you can use located here.
Can I integrate Stripe into Xero as a bank/clearing account?
Certainly. In Xero, go into your chart of accounts to create a separate Stripe bank account. Go back into PennyPipe and then select that new bank account on the pipe settings page (step 4).
Do you also support multiple payment gateway accounts for the same accounting company?
We do support multiple accounts, and you do this by creating a second "pipe". In your dashboard you would click on the "Create a pipe" button and go through the setup process again, this time, connecting a different payment gateway account. We have users connecting 3 or 4 Stripe and PayPal accounts to the same Xero or QBO account, all with unique settings.
I use a third party e-commerce platform to sort my Stripe charges, will everything still work?
This depends on the program. Some data may be in different fields (such as email in the item description). This is the format the data is sent to us from your third party but there are workarounds. Send us an email at firstname.lastname@example.org and we'll work with you.
What is a charge?
A charge is when someone pays you through a payment gateway. We'll move and sort all of the fees, refunds, and refunded fees also, but we only measure by how many charges come through.
What is sync?
Sync is how often we check for new data. If you have a 5 minute sync, new data from your payment gateway will move over to your accounting software every 5 minutes.
What is sync on demand?
Sync on demand is a feature that allows you to check for new data immediately. Click a button, move your data.
What if I go over my monthly charge limit?
Don't worry! We give you a 10 day grace period. We'll get in touch and let you know that it's time to upgrade your account. If we can't get in touch, we'll pause your pipe. When your pipe is unpaused we'll grab the last 60 days of charges.
Your business finances just got easier.
Have a question that isn't answered here? Give us a call at 888-404-2904 or email email@example.com.
Try PennyPipe for free for 14 days. No payment, no credit card required to sign up.