on September 11, 2015
by Andy Jones
We now support Stripe disputes as an option to synchronize with your accounting software.
Disputes don't happen often, but they do happen. Any business running long enough will experience a mis-communication, shipping error, or just an unhappy customers, sooner or later. Since the customer initiates the dispute at their option, disputes bypass any normal refund and remediation process already in place. Disputes are unexpected events that levy their own fees, but we can help make accounting sense at PennyPipe.
Stripe has helped unify the dispute process by charging a single transparent fee of $15 when a dispute happens. Depending on the payment processor, funds may be withdrawn, reinstated, or held at different times. Stripe does a great job of informing customers - and PennyPipe - when these events occur.
We use all the events that occur - fees, withdrawns, and reinstatements - to create the appropriate accounting entries within your specific accounting software. Fees are entered as expenses or purchases. Withdraws and reinstatements are deducted or added to sales as they occur.
Although disputes don't occur often, they are still important to account for. By further checking for disputes, we hope to synchronize your payment gateway with your accounting software correctly to the penny.