Stripe Billing Does Not Replace Bulgarian Accounting
Key Moments
- 00:01 – Why Stripe Billing Does Not Replace Bulgarian Accounting
- 00:19 – What Stripe Billing Can Automate
- 00:37 – What a Stripe Invoice Should Contain
- 01:00 – VAT Treatment, Reverse Charge and OSS
- 01:29 – Why Stripe Payouts Are Not Automatically Revenue
- 01:46 – Reconciling Sales, Fees, Refunds and Chargebacks
- 02:06 – Bulgarian VAT, VIES and OSS Reporting
- 02:21 – Corporate Tax and Financial Statements
- 02:42 – Refunds, Corrections and Credit Notes
- 03:02 – How ASB Accounting Services Bulgaria Can Help
- 03:22 – Final Compliance Considerations
Short Summary
Using Stripe Billing does not replace proper Bulgarian accounting. Stripe can automate subscriptions, recurring invoices, payment collection and transaction tracking, but the Bulgarian company remains responsible for correct invoicing, VAT treatment, accounting records and tax reporting.
Stripe invoices should contain the necessary company and customer information, an appropriate description of the supplied service, correct dates and the applicable VAT treatment. Depending on the transaction, the company may need to consider Bulgarian VAT, reverse charge rules, VIES reporting or the OSS scheme.
Stripe should also be reconciled separately from the company’s bank account. The amount transferred by Stripe is not necessarily the company’s revenue because a payout may include payments from several customers after deducting fees, refunds, disputes, chargebacks or currency adjustments.
The accountant should therefore reconcile gross sales, Stripe fees, refunds, chargebacks, currency conversions and actual bank payouts. Recording only the net amount received in the bank may lead to understated revenue, missing expenses and incorrect VAT reporting.
Stripe also does not replace Bulgarian VAT records, VAT returns, VIES or OSS reporting where applicable, corporate tax accounting or the company’s annual financial statements. Refunds, cancelled subscriptions, discounts and chargebacks may also require credit notes or other accounting adjustments.
Need Help with Stripe Accounting in Bulgaria?
Contact ASB Accounting Services Bulgaria for professional assistance with Stripe accounting, VAT treatment and payment reconciliation in Bulgaria. Our team can review your Stripe setup, invoices, payout reports, refunds and transaction data and help ensure that your online sales are correctly recorded and reported.
Prefer reading or looking for more details? Read our detailed article about Stripe Billing and Bulgarian Accounting.
Phone: +359897282599
Email: ASB@AccountingServicesBulgaria.com