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TrulySmall Accounting: Payment FAQs
TrulySmall Accounting: Payment FAQs

The following are some common questions asked when setting up and using the Payments feature in TrulySmall to accept credit card payments.

Tham Moyo avatar
Written by Tham Moyo
Updated over a week ago

Q: How do I enable Payments in TrulySmall Accounting?
A: To enable Payments, simply following this step-by-step Payments Help Article.

Q: What are the fees for using Payments?
A: Fees associated are 2.9% + $0.30 per transaction. There are no setup fees, monthly fees or hidden fees. You pay only for what you use. Chargebacks are billed at $15 / occurrence.

Q: What will my customer see on their credit card statement?
A: Charges may appear as STRIPE*<your business name> for about 48 hours. Once the charge is no longer “pending” and fully settles with the bank, the statement will update with more detailed information about the business who originally created the charge.

Q: How and when do I get the money received?
A: After verifying your account with our payments provider, Stripe, the first payout will occur 7-14 days after the first successful payment is received. The first payout may take longer for a number of reasons, including your country or being in a high-risk industry.

Processing subsequent payouts then happens according to your Stripe portal’s payout schedule (daily, weekly, monthly, manual). You can change your schedule or view a list of all of your payouts and the date that you expect to receive them in your bank account in the Stripe Dashboard.

Q: How do I refund a payment?
A: Customer payments must be refunded within the Stripe portal. To refund, login to your Stripe portal, click on the transaction and select 'Refund'. Note: A payment must be processed in order to be able to refund. If payment is still pending, a refund is not yet possible.

Q: Why is the option to accept a payment by credit card not available on some invoices?
A: The option to accept payment by credit card is only available on invoices that are issued in the home currency of your business (either CAD or USD). If you create an invoice in another currency, you will not have the option to accept payment by credit card on that particular invoice.

Q: How will I be notified of payments?
A: You will be sent an email of a payment based on the email you registered with on TrulySmall Accounting.

Q: What should I do if I can't log into my Stripe portal?
A: There are only a couple of reasons you might not be able to log in to your Stripe portal:

  • Your email to login to Stripe may not be the same as your TrulySmall login email.

  • Forgotten password: on the Stripe login page, click the Forgot Password link.

Q: Is my industry supported?
A: Some industry types may not be supported by Stripe. To see if your business would be supported, please visit their Terms of Service-USA or Terms of Service-Canada to verify.

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