Should STRIPE (Payment Collection Service) be setup as VENDOR or CUSTOMER ?
I have customers on subscription memberships. Their dues are paid through STRIPE.
STRIPE deduct their fees for processing, then deposit, in my bank, the amount collected by a specified time i.e. the middle of the month, end of the month , etc.
I pay STRIPE for their great service, and they process payments from my customers. STRIPE deposits those funds in my bank. How do I classify STRIPE in Quickbooks Online? Should they be classified as a Vendor or a Customer?
"If they are working for you and you are paying them then they would be vendors. Customers are for people who you do work for and who pay you." -aj4fluentbiz