Representing Stripe Customer Balance Transactions in NetSuite (Beta Feature)
This feature allows customer balance transactions issued in Stripe to automatically flow into NetSuite in the form of an invoice or a credit memo.
This feature is currently not enabled by default and is being piloted in a private beta. Contact support if this feature is something that would fit your business needs.
Every customer in Stripe Billing has a credit balance that you can issue credit and debit adjustments against. Adjustments in the credit balance could be a credit (meaning you owe them money) or a debit (meaning they owe you money). These adjustments sum up to a balance on the customer that will apply to future invoices. See Customer Balance Documentation
By enabling this feature, we translate customer balance transactions generated in Stripe into NetSuite giving you a more accurate representation of your assets and liabilities at any given time.
Note : Stripe represents customer balance credit as a negative balance transaction and a customer balance debit as a positive balance transaction.
Customer Balance Credit
A Stripe customer balance credit (negative customer balance transaction) is translated into a NetSuite credit memo immediately upon SCN detecting the new transaction. The NetSuite credit memo has a value equal to Stripe's customer balance transaction and the credit will automatically be applied to the customer's next invoice both in Stripe and in NetSuite via SCN.
When the customer receives a new Stripe invoice that is translated into NetSuite, existing customer balance credit memos will be automatically applied to the NetSuite invoice which lowers the invoice's total by the credit memo's full value or as much value that can be applied. If the credit memo's value exceeds the NetSuite invoice's total, the memo will fully pay off the invoice and continue to apply the credit to the following invoices until all credit is applied.
Customer Balance Debit
A Stripe customer balance debit (positive customer balance transaction) is translated into a NetSuite invoice immediately upon SCN detecting the new transaction. The NetSuite invoice has a value equal to Stripe's customer balance transaction and the invoice's value will automatically be added to the customer's next invoice both in Stripe and in NetSuite via SCN.
When the customer receives a new Stripe invoice, the value of the invoice will be the sum of the customer's current customer balance debit + the new invoice total. When the new invoice is paid via Stripe the customer-balance-created invoice and the new invoice will be marked as fully paid in NetSuite.
Customer Balance Triggers
There are many actions that can trigger the creation of customer balance credits or debits.
A few examples of these triggers
- A manual adjustment to the customer's balance is made via the Stripe dashboard (credit or debit)
- A Stripe invoice with a negative total amount (credit)
- A credit note is created with some or all of the repayment method being a customer balance (credit)
- An invoice that was paid via customer balance is voided (credit)
- An invoice below the minimum chargeable amount is created (debit)
Customer Balance Line Items
We attempt to translate as much line item data from Stripe into NetSuite as possible. Not all triggers of customer balance are generated with line item data, however, when applicable (ex: negative invoices or credit notes) the generated credit memos will contain line item data.
In cases where line item data is not relevant, the global line items 'Stripe Customer Balance Credit Item' & 'Stripe Customer Balance Debit Item' are used.
Enabling This Feature
To enable this functionality, you will need to consult with our support to see if your account's structure is ready for our beta testing.
Once enabled, customer balance transactions that are created within the past 24 hours may be subject to being translated over into NetSuite based on your queue size. After the setting is turned on, all new customer balance transactions will be translated over into NetSuite.
Note : We do not go back in time and translate all customers' balance transactions as they have already been captured in previously created invoices and credit memos.
Warning : If a customer balance credit is created and partially applied to an invoice within the past 24 hours of the setting being turned on, after turning on this setting, a manual adjustment to the newly created credit memo may be required in order to not double capture the customer balance credit.
Additional Technical Details on How Customer Balances Function
- Customer balance generated credit memos and invoices should not be altered manually in NS. Manual manipulation to the NetSuite records will result in discrepancies between Stripe and NetSuite. If balance adjustments are needed to be made, they should take place in Stripe and the adjustments will translate into NetSuite via newly created credit memos or invoices.