How to Reconcile Your Tax Return in Taxually with Stripe Tax

Taxually works directly with Stripe Tax to automatically sync your transaction data and prepare your tax returns. When you compare your Stripe data with your Taxually return, the numbers should align closely—and this guide will help you verify that everything is on track.

Step 1: Run the Itemized Tax Report in Stripe

To compare your data:

1. Log in to your Stripe Dashboard
2. Go to Tax > Registrations
3. Click on Export transactions
4. Select Itemized export
5. Important: Choose UTC as your time zone

Why UTC? Both Taxually and Stripe use UTC for global transaction consistency. Running your report in UTC ensures you're comparing the same reporting periods. Learn more about how Taxually uses time zones →

Step 2: Match Individual Transactions

To reconcile specific transactions between Stripe and Taxually:

1. In your Stripe itemized tax report, find the id column (usually column A)
2. In Taxually, look for the corresponding invoiceId field
3. Match these IDs to compare individual transaction details

This is helpful if you want to investigate a specific transaction or understand how a particular sale was handled.

Step 3: Understanding Normal Differences

When you compare Stripe Tax data with your Taxually return, the amounts should match very closely. Small differences of 1-4% are normal and typically result from standard tax compliance processes, including:

• Exchange rate application – Tax authorities require specific exchange rates for certain dates, which Taxually applies when preparing your return. These may differ from the exchange rate applied at the point of sale in Stripe. For example, some jurisdictions require using the official monthly average rate published by their central bank, while the original transaction may have used the live rate at the time of purchase.
• Jurisdiction-specific rounding rules – Different tax authorities have different requirements for how amounts should be rounded in official filings. For businesses selling large quantities of low-value items, these rounding requirements can sometimes lead to more noticeable differences—but these are acceptable, normal, and required for compliance. For instance, some jurisdictions round at the transaction level, while others round only at the total level.
• Compliance adjustments – Taxually applies any jurisdiction-specific filing requirements to ensure your return meets local regulations. This includes applying the correct tax treatment for specific transaction types, adjusting for local filing conventions, and ensuring all amounts are formatted according to each authority's requirements.

What this means: Your Taxually return reflects what will actually be filed with tax authorities, which may include adjustments required for compliance. Even if differences appear larger than expected in certain cases, they represent the accurate, compliant amounts for filing.

Common Scenarios to Understand

Retroactive Tax Registrations

If you registered for tax in a jurisdiction with a backdated effective date, you may notice:

• In Stripe Tax: Tax amounts show as $0 for transactions before the registration date (Stripe Tax cannot apply taxes retroactively)
• In Taxually: These transactions appear with calculated tax amounts

What's happening: Taxually automatically treats the total amount paid by the customer as tax-inclusive and recalculates the tax portion according to the jurisdiction's requirements. This ensures your filing is accurate and compliant, even for backdated registrations.

US Sales Tax: Prompt Filing Discounts

Many US states offer a small discount (typically 0.5-2%) if you file and pay on time. Taxually applies these discounts automatically where applicable, which means:

• Your Taxually return shows the amount you'll actually pay after the discount
• Your Stripe data shows the amount originally collected from customers

This is expected and saves you money!

Monaco Sales (VAT)

For VAT purposes, Monaco is treated as part of France. Taxually correctly applies French VAT to Monaco sales to ensure compliance, which you'll see reflected in your French VAT return.

Transactions with Incomplete Address Data

Occasionally, a transaction may not include complete address details needed to assign it to a specific tax jurisdiction. In these cases, Taxually will exclude the transaction from jurisdictional reporting until complete information is available. You can help ensure full data accuracy by making sure all Stripe transactions include complete address information.

Transactions Not Processed by Stripe Tax

If you have transactions in Stripe that were not processed through Stripe Tax, these will not be included in your Taxually tax return. This can happen with:

• Manual invoices created in Stripe without Stripe Tax applied
• Transactions using custom or manual tax rates
• Sales processed before Stripe Tax was enabled on your account

What this means: Only transactions where Stripe Tax calculated and collected the tax will flow through to Taxually. If you need to include other transactions in your tax filings, please contact our team at support@taxually.com for guidance.

Everything Looking Good?

If your Taxually return is within 1-2% of your Stripe Tax data, you're all set. The small differences you see are working exactly as intended—Taxually is preparing your return according to each jurisdiction's specific requirements.

If something looks unexpected or you'd like help understanding a specific difference, reach out to our team at support@taxually.com. We're here to help.