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How Does The Stripe And Payable Integration Work?

Last Updated:
August 4, 2020

IMPORTANT: The information reported in this article is no longer accurate.

It is currently not possible to sync and import data between Stripe and Payable. The only way to work on your 1099 forms is via CSV import/export. Please visit this link for more information on how to do that.

Platforms using Stripe Connect with Custom or Express accounts can use Payable to generate, file, and deliver 1099 tax forms. 

You can now sync your Stripe data with Payable and you’ll be able to generate and file 1099-MISC or 1099-K forms starting January 14th, 2020. 

When syncing data between Stripe and Payable, we only move information for connected accounts that were not already on Payable. 

If you are using Payable for the first time, we will import all of your connected accounts data. But this also implies that any future sync will not refresh/edit any data imported during your first Payable sync but only add net new connected accounts information. If you used Payable in the past, we will only add connected accounts you did not import during previous tax seasons.



Importing recipient tax information

Here’s how you can import your 2019 payments data and recipient tax identification information into Payable: 

  1. Log into the Stripe Dashboard and navigate to https://dashboard.stripe.com/connect-to-payable. If you’re unable to access this link for any reason, reach out to support@stripe.com, and we’ll help you get this resolved.
  2. Click on “Connect my Stripe account.” This will connect your Stripe account with Payable.   If you already created a Payable account associated with your platform last year, we will detect that and start importing your new data from 2019 with no further action required from your side.

 

  1. Click “Accept Invite” on the Payable site. This will sync your Stripe data with Payable, allowing Payable to automatically generate 1099 tax forms for your US connected accounts.

 

  1. Click on the “Team” page from the Payable header. Here you will be able to display the status and result of the Stripe data sync. While the import is running, you will see this screen:

The import process will take anywhere from a few minutes to 48 hours, depending on the volume of accounts and transaction data.

 

Generating 1099 forms

 

  1. Generate 1099-MISCs and 1099-Ks. After payments and tax identity information for your connected accounts have been imported, you can classify payments for either 1099-MISC or 1099-K. Head to the Taxes page of your Payable account and set up your company tax forms settings.

We’ve built an entire 1099 Tax Center to help you better understand requirements, and you can also invite your accountant into Payable so they can guide you through the process and help with any tax-related questions.

Once 1099 forms are generated and reviewed by your team, you can invite your connected accounts to Payable. These accounts can add missing information, update out-of-date details, and/or confirm that all necessary tax data is correct. Please be aware that once a connected account accepts your Payable invite, they will own their personal data on Payable, and you will not be able to edit them.



E-filing with the IRS

 

  1. Starting on January 14th, you will be able to file 1099 forms with the IRS. In theory, you can file the forms either online or by sending physical copies via mail to the IRS.


The IRS prefers e-filing, and actually requires it when a company files more than 250 forms. Payable helps take care of e-filing forms with the IRS. You can see how much it costs to e-file forms through Payable here.

  1. Verification of tax information and successful filing with IRS. We’ll let you know when the e-filing process has been completed and successful for each recipient together with the mailing or e-delivery status. We deliver forms to your accounts right after e-filing.
1099 Payable Forms Delivered


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