#khoi - separate charge & transfer
white quail
long current
khoi - separate charge & transfer
hybrid nimbus
for example: I am thinking of having 3 Stripe Connect Express under my company control:
- one for Stripe fee
- one to track tax
- one to track platform fee (actual revenue)
long current
What are your requirements for organizing these funds?
The above approach makes sense if the funds need to go to separate banks
hybrid nimbus
we want to have separate accounts so we can easily match up and verify how much we make in revenue and collect for taxes
ie: data validation
long current
In that case this is a reasonable approach. But it really depends on the scale.
hybrid nimbus
do you have any recs on best practices for this?
one downside is if we have to issue a refund, we would have to draw on all those 3 accounts right?
long current
Like I said, this is a good way to go if you need to disburse these funds to separate accounts.
In that case you would include reverse_transfer when making the Refund via the API.
https://stripe.com/docs/api/refunds/create#create_refund-reverse_transfer
hybrid nimbus
gotcha
long current
So basically this is an approach that can make sense to separate out revenue streams. It can make pulling all the funds together a pain but in that case you could connect the same external bank to all 3.
hybrid nimbus
alternatively is there a way to annotate that on a Stripe charge?
ie: real_revenue vs misc_fees
long current
Are you creating separate charges for each type of fee/tax or is it all rolled into a single charge?
hybrid nimbus
i am creating it in a single charge
and then issue a transfer out to seller account
the remaining is kept in the original charge (platform fee, stripe fee, tax)
long current
Okay, yeah that makes sense. A more simple approach would be to tag that information in the metadata property of the Charge object.
https://stripe.com/docs/api/charges/update#update_charge-metadata
You can get the metadata for each charge as a field when exporting reports from the Dashboard. But you wouldn't be able to see the balances for each in your Dashboard like you could with the separate Accounts approach.
hybrid nimbus
i would prefer having some main dashboard from Stripe to monitor revenue as a source of truth
so it's not against Stripe tos for us to spin up these shadow express accounts that we control right?
long current
I do not think so but you can double check by writing in to Support.
https://support.stripe.com/contact/email
We are mostly specialists in API integration here. Support is much more well-versed in the specifics of TOS.
hybrid nimbus
thank you so much!