When you connect Dubsado Payments, you'll be asked to provide details about your business, including your Type of business. This article explains what that means and how to choose, or later change, the right option.
As you connect Dubsado Payments, Stripe's onboarding asks you to select a Type of business. This isn't a Dubsado setting: it's information the payment processor needs to identify your business for tax and compliance purposes. The options you see depend on your country, but most countries offer Individual and Company.
Dubsado Payments is powered by Stripe, so some steps in the payment onboarding happen on Stripe's side. The business type you choose here is used by the payment processor for tax and identity purposes. It's separate from the Industry you pick when setting up your Dubsado workspace.
Choosing individual or company
Use these guidelines to decide which option fits your business.
You'll most likely select Individual or Individual / Sole Trader if either of the following applies to you:
Your business is new and isn't registered with your local government
You're a sole proprietor outside the United States
You'll most likely select Company if you consider your business to be one of the following:
A sole proprietor, if your business is located in the United States
An LLC
A partnership
A corporation
If you're not sure which type fits your business, check with your accountant or tax advisor. The right choice depends on how your business is registered in your country.
Updating your business type
After you finish connecting Dubsado Payments, you can update your business type if it changes. This is done directly in your Stripe Dashboard, not in Dubsado. Editing is only available once your Stripe account is verified. See Stripe's guide on what you need to verify your account for details.
You can only edit your business type once your payment account is verified. If your account isn't verified yet, you won't see the option to change it.
To edit your business type:
Go to your Stripe Dashboard.
Click the Settings gear icon.
Under Business settings, click Tax details.
Choose your new business type, then click Update.
FAQ
Where do I change my business type after I've connected Dubsado Payments?
In your Stripe Dashboard, under Settings ➔ Tax details (in Business settings). This isn't available in Dubsado, and it only appears once your payment account is verified.
Is Type of business the same as the Industry I picked when setting up Dubsado?
No. The Industry you choose when setting up your Dubsado workspace helps tailor your Dubsado experience. Type of business is a payment processor field used for tax and identity purposes. They're unrelated.