Configuring your payout explanations

Configuring your payout explanations

Immediately after connecting to Stripe you will be on the configuration page. You can also click the Edit this rule button on the Stripe account page to go to the configuration page.

Here you can choose whether to explain Stripe payouts with invoices or with (rolled-up) sales transactions.

Explain with (rolled-up) sale transactions

Here the main settings are:

  • when to charge VAT;
  • the Sales category to use;
  • the description to give each payment's explanation.

Explain with invoices

Here the main settings are:

Example: explaining with invoices

Let's say:

  • you sell an online product called My First Product;
  • you want each payment through Stripe to have an invoice in FreeAgent;
  • UK customers pay 20% VAT;
  • for EC customers the reverse charge scheme applies.

You would set this all up as follows:

And finally

We always recommend clicking the Dry run button to check DoubleAgent will do what you would expect.