How to Integrate Stripe with Sage Intacct?

If you’re using Stripe for payments and Sage Intacct for accounting, integrating these two platforms can save you a lot of time and effort. By syncing the two, you can automatically transfer payment data from Stripe into Sage Intacct, helping you streamline your accounting processes, improve financial accuracy, and reduce manual work.

This article will guide you through the steps to integrate Stripe with Sage Intacct, highlight the benefits of this integration, and explain the prerequisites and common challenges businesses can face during the integration.

How to Integrate Stripe with Sage Intacct?

You can integrate Stripe with Sage Intacct by following some simple steps. Mentioned below are steps you can follow:

Step 1: Set Up Your Stripe Account

You need a Stripe Account, if you don’t currently have a Stripe account, you can create one. Here’s how:

• Go to the Stripe website and create an account.
• Provide your legal business name, tax identification number (TIN), and bank account information.
• Complete the identity verification processes required to comply with Stripe’s regulations.
• Once your account is set up, save your API keys (located in the API area of your account dashboard), as you will need them to connect Stripe to Sage Intacct.

Step 2: Set Up Your Sage Intacct Account

• Ensure you have access to an active Sage Intacct account and the necessary permissions to configure integrations.
• Log in to your Sage Intacct account.
• Navigate to the Platform Services section in the dashboard.
• Select Integrations and then click on Manage Integrations.
• Make sure you have the required permissions to add external integrations.

Ensure that you have access to an active Sage Intacct account with the required permissions to configure integrations:

• Log into your Sage Intacct account.
• Go to the Platform Services section of the dashboard.
• Select Integrations, then click Manage Integrations.
• Make sure you have the necessary permissions to add external integrations.

Step 3: Use a Third-Party Integration Tool

Since Sage Intacct doesn’t natively support Stripe integration, you’ll need a third-party tool. There are many tools available in the market that can help you through the integration. You can also choose Accountspro services, which can help you go through the process easily.

Step 4: Configure Sage Intacct for Payment Processing

When the integration tool is connected, you must configure Sage Intacct to properly handle payments:

• In Sage Intacct, go to the Accounts Receivable or Cash Management modules. Configure the payment methods to incorporate Stripe as an option.
• To allow easy payment processing, link your Stripe account to your customer data in Sage Intacct.
• Set up automated rules for invoicing, payment applications, and financial reporting.

Step 5: Test the Integration

Before going live with the integration, make sure everything works as planned. Run the following tests:

• Payment Flow Test: Process a Stripe payment and verify that it is automatically recorded in Sage Intacct.
• Invoice Creation Test: Generate an invoice in Sage Intacct and ensure it is synchronized with Stripe for payment processing.
• Reporting Test: Create a financial report in Sage Intacct to ensure that Stripe payments are reflected correctly in the data.

Step 6: Go Live

Once the tests are successful, you can go live with the integration. From this point, all payments made through Stripe will be automatically synced with Sage Intacct, making your financial operations more efficient.

Step 7: Maintain the Integration

To keep everything running smoothly, it’s important to maintain the integration:

• Monitor for any errors or data syncing issues.
• Regularly update API keys to avoid disruptions.
• Adjust the integration if there are any changes to Stripe or Sage Intacct’s APIs.

Why Integrate Stripe with Sage Intacct?

Here are some benefits of integrating Stripe with Sage Intacct:

• Save Time: Automatically sync payment transactions, so you don’t have to enter payment details into Sage Intacct manually.
• Accurate Reporting: Ensure that your financial data is always up-to-date and accurate, reducing the chances of errors.
• Better Cash Flow Management: Track incoming payments in real-time, so you can stay on top of your business’s cash flow.
• Improved Efficiency: Automate key accounting processes, freeing up time for your finance team to focus on other tasks.

Prerequisites to Integrate Stripe with Sage Intacct

Before starting the integration, make sure you have:

• A Stripe account for processing payments.
• A Sage Intacct account for managing your financial data.
• Administrative access to both accounts.
• An integration tool or middleware.

Common Issues with Stripe and Sage Intacct Integration

While connecting Stripe with Sage Intacct is generally simple, businesses may face several obstacles along the way:

• Data Mapping Issues: It can be difficult to ensure that all necessary payment fields are properly mapped between Stripe and Sage Intacct.
• API key management: Incorrect API key usage or expired keys can disrupt the integration, thus it’s critical to keep track of these credentials.
• Customization Needs: Some organizations require extensive customization, such as specialized workflows or unique fields, for which professional help is needed.

Conclusion

Integrating Stripe with Sage Intacct can streamline your payment processing and accounting workflows, saving you valuable time and ensuring that your financial data is accurate. By following the steps outlined above and using the right integration tool, you can easily connect Stripe with Sage Intacct and start enjoying the benefits of automated data syncing.

If you run into any issues, check the support documentation from your integration tool, or reach out to customer support for assistance. Once everything is set up, you’ll have one less thing to worry about and can focus more on growing your business.