Integration App Highlights
Key Integration
Flows
Eliminate manual effort and automatically reconcile NetSuite transactions to Stripe payouts recorded as bank deposits in NetSuite
Advanced Integration Capabilities
The integration supports many use-cases and can be configured to work with your NetSuite setup.
BANK DEPOSIT RECORD
Stripe Payouts import to NetSuite
The integration app creates a bank deposit record in NetSuite based on the Payout data obtained from Stripe on a scheduled basis.
Stripe Payouts to NetSuite Transactions Reconciliation
Reconciled transactions: Matched Stripe payments and refunds are automatically reconciled to customer payments and customer refunds in NetSuite and recorded on a bank deposit record under the ‘Payments’ subtab.
Unreconciled transactions: Unmatched Stripe payments are recorded on a bank deposit record under the ‘Other Deposits’ subtab.
Stripe Fees
Stripe fees are recorded on a bank deposit record under the ‘Cash Back’ subtab.
Disputes and Dispute Fees
Disputes and Dispute fees are recorded on a bank deposit record under the ‘Cash Back’ subtab.
Additional Notes:
The integration can be configured to record any unreconciled amounts in a respective G/L account – e.g. an Other Current Asset type account called ‘Stripe Clearing.’
The integration can be configured to record Stripe transaction fees in a respective G/L account – e.g. an Expense type account called ‘Stripe Fees.’
G/L accounts referenced above should be provided during the configuration stage of the project and can be changed at any time.
PAYOUT SUMMARY CUSTOM RECORD
Payout data is summarized in a custom record in NetSuite. The Deposit record is linked to this custom record. The following information is included in the custom record:
General section (Record name, Currency, Payout ID, Payout Date, Amount)
Charges section (Charges Gross Amount, Charges Fee Amount, Charges Net Amount)
Refunds section (Refunds Gross Amount, Refunds Fee Amount, Refunds Net Amount)
Adjustments section (Adjustment Gross Amount, Adjustment Fee Amount, Adjustment Net Amount)
Once above records are created, NetSuite moves funds from “Undeposited Funds” account into a provided bank type G/L account in NetSuite correctly.
Additional Notes:
The out-of-the-box functionality can be accompanied by further customization(s) to support your individual use-cases. Such customization(s) can be scoped, priced, and implemented either in the integration layer or in NetSuite or both.
I would 100% recommend working with Nova Module for integrating Stripe and NetSuite. Their team is really impressive. I found them to be extremely knowledgeable, responsive, and enjoyable to work with. The process from start to finish to get the integration set up was really pretty painless and we felt supported throughout the entire project. The efficiencies we have gained from integrating Stripe and NetSuite have been very impactful for our small finance team. I highly recommend working with Nova Module!
Heather Walstad, CPA
Director of Finance, XY Planning Network
