Payment Setup and Lunchmoney Configuration
In order to perform transactions, it is required to have payment information set up. Lunchmoney (powered by Stripe) is the online payment processing system that is configured as a part of setting up a location’s bank account information.
Payment Setup Process
Step 1: In the Admin Dashboard, navigate to Settings > Payments.
(for Admins using the New Admin Dashboard, navigate to Settings
then Payments:
Step 2: The Lunchbox Payments page will open, which displays locations and their status on setting up their payments profile as well as options for handling disputes and refunds. You will see the Pending status indicating that the payment information still has to be taken care of. Select the location line item (labeled Pending) to open the account information page.
Step 3: Select the location that you wish to configure.
Setting Up Bank Account Process
Step 1: On the Account Information page, the Bank Account section of the Admin Dashboard needs to be complete with the following bank information:
Account Holder’s Name: Enter the full name of the account holder
Account Number (do not add dashes) Input the bank account number of the account holder
Routing Number (do not add dashes) Provide the bank routing number corresponding to the account of the account holder
Account Type: Use the dropdown to select the account type
When complete, be sure to select the Submit button.
Setting Up Lunchmoney / Stripe Process
Step 1: On the Account Information page, select the Continue Setup button to launch the Lunchmoney setup page (powered by Stripe).
Step 2: After the launch of the Stripe site opens, you will be able to provide information on you and your business. On the first page, you will be able to provide your Business Details, which includes the following:
Legal Business Name: Enter your business name here (must match your IRS information exactly)
Employer Identification Number (EIN): Input your unique EIN or Social Security Number (must match your IRS information exactly)
Doing Business As (DBA): Optional, but you can input your business’ assumed, trade, or fictitious name
Registered Business Address: Input the address for the registered business
Business Phone Number: Input the phone number of your business
Industry: (Dropdown) Select the type of industry your business is; in this case, you will select the Restaurants and Nightlife option.
Business Website: Enter your business website URL
NOTE: Stripe uses IRS Records to match your Business Information. Please make sure to fill Business Information out based on your Tax records.
After all pertinent information has been entered, select the Continue button to continue (or you can select the Save For Later button).
Step 3: On the second page of the Stripe setup, you will be able to provide your Business Partnership information, which includes the following:
NOTE: A legal business partner that owns at least 25% of the company must provide and confirm this information.
Legal Name of Person: Enter the first and last name of the person who owns 25% of the company
Email Address: Input the email address of the person entered in the previous step
Job Title: Provide the job title of the contact person listed in the Legal Name field
Date of Birth: Enter the birth date of the person listed in the Legal Name field
Home Address: Input the home address of the person listed in the Legal Name field
Phone Number: Provide the phone number of the person listed in the Legal Name field
Last Four of Social Security Number: Enter the last four digits of the person listed in the Legal Name field
I own 25% of the company: (Checkbox) Check this box to signify that the person is a legal business owner with at least 25% ownership of the company. A confirmation will require you to commit that you are indeed a 25% owner.
After all pertinent information has been entered, select the Continue button to continue (or you can select the Save For Later button).
Step 4: After the requested information has been input, you will be provided with a page that allows you to select the Submit button for confirmation. Once you have completed the Stripe setup process, you will be directed back to the Admin Dashboard.
NOTE: You must allow Stripe up to 24-hours to review the information that you provided for validation.
Payment Completion
Step 1: The status of the location will change to Complete once both the Bank Account Setup and Lunchmoney / Stripe Setup have been completed. It is required that the profile is in a Complete status in order for them to be allowed to accept payments and start selling.
NOTE: You must complete this information for every location listed on the Lunchbox Payments page. If you run into any problems, select the Support button in the Lunchbox Admin Dashboard or contact your CSM for assistance.
FAQ
Can I enter bank information and return to finish the Lunchmoney form? Does the order in which it’s completed matter?
Yes. There is no required order on whether the Bank Account process or Lunchmoney / Stripe process needs to be set up first. However, the entire process is not considered complete until both methods have been handled.