Configure your Stripe account

Introduction

Once you’ve finished the Anrok & Stripe integration process, there are still a few additional steps you’ll need to complete within Stripe before you can start creating and editing invoices. This will ensure that your Stripe account has been properly configured for tax calculation.


 

Configure invoice status for failed payments 

Stripe provides settings to automatically mark invoices uncollectible when payments fail. Anrok will sync uncollectible invoices from Stripe to deduct equivalent tax due on your sales tax returns. 

  1. In the Stripe app CleanShot 2023-07-19 at 13.03.46@2x.png, go to Billing Settings. Take me there!
  2. For Invoice status, select mark the invoice as uncollectible. Stripe provides this setting in three different places that you'll want to confirm: 
    • Manage failed payments for subscriptions
    • Manage payments that require confirmation
    • Manage invoices sent to customers

 


 

Make your products tax exclusive or tax inclusive

Since tax rates can fluctuate, Anrok can only add tax on items that have a set base price. Anrok supports both tax-exclusive and tax-inclusive pricing in Stripe.

Try making products tax-exclusive in the demo above ☝️

  1. In the Stripe app CleanShot 2023-07-19 at 13.03.46@2x.png, go to Products. Take me there!
  2. Click the options menu button  stripe_options_button.png  next a product, then select Edit product.
  3. Under Price, deselect the checkbox  stripe_empty_checkbox.png  next to Include tax in price.
  4. When you are finished, click Save product.

 


 

Add VAT IDs to your customer profiles

Adding a VAT IDVAT ID
Also known as a VAT registration number (VRN), this is the unique number that identifies a taxable business that is registered for VAT.CleanShot 2023-08-17 at 11.41.50@2x.pngMost businesses (and other persons carrying out an economic activity) are required to have a VAT number. Adding tax IDs
 to your customer records will be essential for tracking international economic nexus exposure.
Once a VAT ID has been added, Anrok can use your customer's VAT ID to verify an invoice's taxability in a given country/region.

Try adding a VAT ID to a customer's profile in the demo above ☝️

  1. In the Stripe app CleanShot 2023-07-19 at 13.03.46@2x.png, go to Customers. Take me there!
  2. Select a customer contact, then next to Details, click Edit.
  3. Click the drop-down button  stripe_dropdown_button.png  next to Billing information
  4. Under Tax ID, select an ID type from the drop-down, then enter the customer's VAT ID.
  5. When finished, click Update customer.

 

Note CleanShot_2024-04-30_at_16.01.40_2x-removebg-preview.png

Now that you’ve set up your Stripe account to work smoothly with Anrok, let's look at how to ensure Anrok's sales tax is added to your invoices. Check out our best practices for manual invoicing in Stripe.

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