Stripe Connect in NetSuite

The Stripe Connector for NetSuite supports Stripe Connect platforms and connected accounts. The connector automatically reconciles Connect-specific activity, including transfers between platforms and connected accounts, application fees and per-account reporting on bank deposits.

How it works

The connector works for both platforms and connected accounts. Each side sees the relevant Connect activity reflected in their NetSuite environment:

• Platforms see outgoing transfers to connected accounts, application fees collected, and Connect memos on charges that include transfer and fee details.
• Connected accounts see incoming transfers from the platform and any platform fees deducted from their payouts.

When you use Connect with the connector, the reconciliation process handles the following:

1. Charges: Connect charges (both direct charges and destination charges) sync to NetSuite the same way as regular charges. The connector adds Connect-specific details to the memo field on each payment record, including transfer destination and platform fee amounts.
2. Refunds and disputes: Connect refunds and disputes sync to NetSuite the same way as non-Connect activity. The connector includes Connect details in the memo field so you can trace the activity back to the associated Connect charge.
3. Transfers and application fees: On each bank deposit, the connector creates separate line items for Connect transfers and application fees. These line items post to the accounts you specify in Settings > Accounts mapping.

Connect charges

Connect charges translate to NetSuite in the same way as regular charges. The connector adds a Connect memo to the NetSuite payment record with details about the transfer and any platform fee. For example:

• A destination charge with a transfer of US$90.00 to acct_123 and a US$10.00 platform fee produces a memo: Connect: Transfer: $90.00 to acct_123, Platform fee: $10.00
• A direct charge with only an application fee of US$5.00 produces a memo: Connect: Platform fee: $5.00

The connector adds this memo to the corresponding NetSuite record, whether it’s a CustomerPayment, CustomerDeposit, or CashSale.

Connect refunds and disputes

When a Connect charge is refunded or disputed, the connector includes the original Connect memo on the refund or dispute record in NetSuite. This allows you to trace refunds and disputes back to the original Connect charge and understand the transfer and fee context.

Connect activity on bank deposits

Connect transfers and application fees appear as line items on the NetSuite bank deposit for each payout. The connector handles both sides of the Connect relationship:

• For platforms: Transfers appear as negative amounts (funds sent to connected accounts) and application fees appear as positive amounts (fees collected from connected accounts).
• For connected accounts: Transfers appear as positive amounts (funds received from the platform). Platform fees typically appear in the charge’s fee_details rather than as separate application fee balance transactions.

By default, the connector aggregates all Connect activity into two summary line items:

• Stripe Connect: Transfers posts to the Connect transfers account.
• Stripe Connect: Application Fees posts to the Connect application fees collected account.

Break down Connect transactions per connected account

You can enable the Break down Connect transactions per connected account setting to display separate line items for each connected account on the bank deposit, instead of two aggregate lines. To enable this setting, go to Settings > Bank Deposit Automation in the Stripe app.

When enabled, each connected account has its own transfer and application fee line items on the deposit. Each line item includes the connected account’s business name and ID in the memo field. For example:

• Stripe Connect: Transfers (Acme Corp - acct_123)
• Stripe Connect: Application Fees (Acme Corp - acct_123)

This helps you track profitability and transaction volume per connected account directly in NetSuite.

Account mappings

You can customise the accounts used for Connect activity in the Stripe app under Settings > Accounts mapping. The following Connect-specific account mappings are available:

Connect invoices

If you use Stripe Billing with Connect, the connector includes application fee information in the memo of the corresponding NetSuite invoice. This allows you to see the platform fee associated with each billing period directly on the invoice record.