Heartbeat integrates with Stripe Tax to help you automatically collect sales tax, VAT, or GST from your payments. Follow the steps below to enable and configure Stripe Tax for your Heartbeat account:
Setup Stripe Tax:
You can automatically collect sales tax, VAT, or GST from all payments processed via Stripe Tax Integration in Heartbeat. You no longer have to worry about manually calculating and collecting taxes from your customers. Stripe Tax takes care of it all for you.
Before you can start collecting taxes, you need to complete the following steps in your Stripe Dashboard:
Confirm your business's origin address: This is essential for determining applicable tax rates.
Select a default tax category: Choose a category that best represents your product or service.
Register to collect taxes in the appropriate jurisdictions: Ensure compliance by registering in all required regions.
Once you've completed these steps, mark them as Completed in the Heartbeat.
Select a Tax Mode:
You will need to choose between two tax modes for your payments:
Inclusive Tax
Definition: Tax is included in the final price displayed to your customers.
Use Case: Recommended for B2C purchases outside the US.
Note: This setting cannot be changed after being set.
Exclusive Tax
Definition: Tax is added on top of the price you define.
Use Case: Common for B2B transactions or B2C transactions within the US.
Note: This setting cannot be changed after being set.
Agree and Submit:
After filling in all the correct details, click Agree and Submit. You will then need to log in to your Heartbeat community again and see that Stripe is now integrated.
Start Accepting Payments
Congratulations, you have successfully integrated Stripe to Heartbeat! You can now start accepting payments on your website using Stripe. Your community members can make payments securely and easily, and the funds will be deposited directly into your Stripe account.