Stripe

About Stripe

Stripe is a payment processing platform that enables businesses to accept online payments, manage subscriptions, and handle billing operations. Built by Stripe Inc., it provides APIs and tools for businesses to process credit card payments, manage recurring billing, and handle complex payment scenarios.

The platform is known for its developer-friendly approach and comprehensive payment infrastructure. Stripe handles everything from payment processing and fraud prevention to subscription management and invoicing. It's designed for businesses that need reliable, scalable payment processing integrated into their applications or websites.

Where Stripe Fits in Your Finance Stack

Stripe sits in the payments layer of your finance stack, handling customer payment processing and revenue collection. It captures payment transactions and feeds them into your accounting system—typically QuickBooks or another general ledger—to record revenue, payment processing fees, and reconcile payment processor transactions. For finance teams, Stripe becomes a critical data source that ensures revenue is accurately recorded in your books.

Typical use cases for Stripe include:

• Online payment processing and credit card transactions
• Subscription billing and recurring revenue management
• Invoice generation and payment collection
• Payment data integration with accounting systems

Strengths and Common Pitfalls

Stripe's main strength is providing a robust, developer-friendly payment platform that scales with your business. The platform's APIs make it easy to integrate payment processing into applications, and its comprehensive features handle complex payment scenarios like subscriptions, refunds, and international payments. Its transparent pricing and reliable infrastructure make it popular with businesses of all sizes.

The tradeoff is that Stripe's transaction fees can add up quickly as your revenue grows, and the platform's flexibility can lead to complexity if you're not careful about how you configure payment flows. For finance teams, the main challenge is ensuring Stripe payment data flows cleanly into your accounting system, especially when dealing with refunds, chargebacks, and payment processing fees.

Common pitfalls include:

• Transaction fees that scale with revenue
• Complex reconciliation when payment data doesn't match accounting records
• Challenges tracking refunds and chargebacks accurately
• Integration issues when payment data doesn't sync properly with accounting systems

When You've Grown Into (and Out of) Stripe

Most businesses "grow into" Stripe when they're ready to accept online payments and need a reliable payment processor that integrates well with their applications or websites. If you're selling products or services online, have subscription revenue, or need flexible payment processing, Stripe provides a solid foundation that scales with your business.

You start to "grow out" of Stripe as your payment needs become more complex than the platform can efficiently handle. Signals include: requirements for more specialized payment features, needs for lower transaction fees at scale, complex multi-entity payment processing, or requirements for industry-specific payment solutions. At that stage, you may need to evaluate alternative payment processors or negotiate custom pricing, but you'll still need robust integration with your accounting system to maintain clean financial records.

How Omniga Works With Stripe

Omniga can support Stripe through its existing QuickBooks integrations. Since Stripe integrates with QuickBooks Online, and Omniga integrates directly with QuickBooks, we can help ensure that your Stripe payment data flows cleanly into your accounting system with proper categorization, reconciliation, and reporting.

The goal is to keep Stripe as your payment processing engine while using Omniga to handle the financial orchestration: ensuring revenue is properly recorded, payment processing fees are tracked accurately, and refunds and chargebacks are reconciled correctly. This lets you focus on processing payments in Stripe while Omniga ensures your financial records stay accurate, tax-ready, and useful for management decision-making.