There are four sections on this page:
- If you already have a Stripe account
- How to open a Stripe account in Workspace (recommended)
- How to open a Stripe account on the Stripe website
- How you receive your payouts in Stripe.
If you already have a Stripe account
Log in to Workspace and click Settings in the main navigation. Then click on Your Shopping Cart, select Shopping Cart Settings and click the Connect to Stripe link near the top of the screen.
A Stripe form will open to create a new Stripe account. Since you already have a Stripe account, click the little Sign In link at the top right instead!
When you click Sign In you'll be asked to enter your Stripe email and password authorising Queensberry to connect your Stripe account. You may also receive a text code to validate your sign-in.
In your Shopping Cart, Workspace will then automatically enable payments by credit card using Stripe.
How to open a Stripe account in Workspace
Step 1: Log in to Workspace and click Settings in the main navigation. Then click on Your Shopping Cart, select Shopping Cart Settings and click the Connect to Stripe link near the top of the screen. A Stripe form will open for you to set up a new account.
The information you enter won't be visible to Queensberry, but we will be able to see your account data, such as payments and payout history, including any data created by other platforms you've connected, and to create new payments for you, which is how we can provide the service.
Stripe will ask you for
- your country of residence
- a description your business
- your type of business (eg limited company, sole trader)
- your business registration ID (e.g. your IRD tax number in New Zealand)
- your business address, phone etc)
- your personal details, date of birth etc
- your bank account details (necessary to receive payouts from Stripe)
- your email address and a password
Some of the information requested, like your phone number, business ID and bank account will be formatted to suit your country of residence.
Two-step authentication: You'll also be asked to set up an authenticator app, SMS to your phone, or both, to authenticate you when you log in to Stripe.
Step 2: At the bottom of the Stripe form, save your account and authorise access by Queensberry.
In your Shopping Cart, Workspace will then automatically enable payments by credit card into your new Stripe account.
If you want to sell digital downloads or self-fulfilled (non-Queensberry) products, you should also click the relevant check box so you can receive those payments directly into your Stripe account.
Step 3: Log into Stripe using your email and password.
When you do so Stripe will open to the Home screen, which hopefully you'll become very familiar with as you make sales!
If you click through to Stripe's Settings in the left navigation panel you can scroll down to Business Settings, where you'll find most of the data you've entered.
There's much more in Settings that you could enter, but it's probably unnecessary. You're using Stripe only to receive payments, not as a sales platform — it's Workspace that will handle your sales, collect payments and send them to Stripe on your behalf.
However do make sure a schedule is set up for payouts from Stripe to your bank account. And you might like to read through the next section to ensure you haven't missed anything else.
How to open a Stripe account on the Stripe website
Step 1 — Go to stripe.com and click Start Now
In the pop-up, enter your email, full name and a STRONG password!
- If Stripe can detect your location, it adds this to the url, which helps make entering some settings easier, for example your phone number, business ID and bank account.
- You can’t use an email address already registered in Stripe. Instead Stripe will explain how to manage multiple accounts from the one address.
Step 2 — Validate your email address
Stripe will open to the Home Page, a dashboard you’ll hopefully get very familiar with!
There's a LOT of information on this page, but all you should do right now is click the link to validate the email account you used, and respond to the email Stripe sends to it.
If you’re only using Stripe with Workspace you won’t need to go near the API keys or even all the Settings. Instead you’ll connect with Stripe in your Workspace account, as it is Workspace that will handle your sales, collect payments and send them to Stripe on your behalf.
Step 3. Account Details
Click Settings in the left navigation panel.
Scroll down past Product Settings to Business Settings, then select Account Details.
Here you can enter and save the following:
- An “account name”, generally your trading name.
- Your country.
- Your time zone.
You can also verify your phone number, which amongst other things will mean you can always get access to your account. You’ll receive an SMS code to verify the number.
Step 4 — Public Business Information
Still in Business Settings / Account Details, scroll down to Public Business Information. This information helps customers recognise your business, including when you charge their credit card!
- Public Business Name: This may not be be your official business name. For example your official name may be Sharpe Operators LLC, but if your customers know you under your trading name of After All Photography, use that!
- You’ll also need to enter a support email and phone number as a minimum in this section before you can hit Save.
Remember, Workspace will be sending notifications and invoices on your behalf. Stripe is simply receiving payments.
Step 5 — Link a Bank Account
You’ll need to enter a Bank Account and set a Schedule to receive payouts from Stripe.
Still on the Settings page, go to Business Settings, and select Bank Accounts and Scheduling.
- Click +Add Bank Account, enter your bank account details and hit Enter. Stripe will display the bank details and also your account currency. If you receive payments in a different currency they will be converted by Stripe.
- Under Payout Schedule you can choose to receive payouts automatically — daily, weekly or monthly. You can also send payouts manually if you prefer.
After you’ve entered your bank details and payout schedule, hit Save.
Step 6 — Tax Details
Still on the Settings page, go to Business Settings, and select Tax Details.
Here you’ll need to enter
- Type of Business
- Legal Business name
- Business ID
The Type of Business and Business ID will vary depending on your location. For example in New Zealand you might trade as a partnership, company or sole proprietor, and you’ll need to enter your IRD tax number. In the US you might be an LLC, and be asked for your EIN.
Again, remember that if you need to charge VAT, GST or Sales Tax on your sales you’ll need to enter these details in Workspace Settings, as Workspace will be issuing invoices on your behalf.
Step 7 — Branding
Still on the Settings page, go to Business Settings, and select Branding.
Here you can personalise Stripe communications with colours, your logo etc.
Step 8 — Activate your account
On the Settings page, select Activate Account.
You’ll be asked to enter your business address, and your personal and business details etc.
Once your account is successfully activated it’s time to complete the set-up process in Workspace.
Step 9 — Link your Stripe account in Workspace
Please follow the instructions in the section "If you already have a Stripe account" at the top of this page.
How you receive your payouts in Stripe
At the time of sale Workspace will deposit sale proceeds to your Stripe account less the cost of sale (including tax) as per Queensberry's invoice — this is shown in Stripe as the "application fee". Stripe will also deduct credit card merchant fees.
You will be responsible for the cost of any refunds and chargebacks, including the wholesale cost of goods that may have been made on your behalf for such orders.
How to withdraw the proceeds to your bank account
As explained above, you’ll need to enter a Bank Account and set up a Schedule to receive payouts. Payouts can be scheduled automatically — daily, weekly or monthly — or you can send them manually if you prefer.
Alexandria
Comments