1 Topic by trafficpest (edited by trafficpest 04/18/2023 06:51:51 pm)

  • From: USA, CA, Valencia
  • Registered: 12/31/2017
  • Posts: 84

Topic: New FrontAccounting supported app StrikeOut

If anyone has interest in receiving Bitcoin Payments as USD with zero fee to the merchant (you never touch BTC asset). I just created a open source web app written in php under the MIT Lic.

It has a FrontAccounting plugin with automated accounting support. Everything is  completely documented in the git wiki.

It is compatible with payments from any (custodial or non custodial) bitcoin lighting wallet (Cash App, Strike, Blue Wallet etc.) from anywhere in the world.

The git is here:
https://github.com/trafficpest/strikeout

Wiki is here:
https://github.com/trafficpest/strikeout/wiki

Screenshots here:
https://github.com/trafficpest/strikeou … Sceenshots

  • From: USA, CA, Valencia
  • Registered: 12/31/2017
  • Posts: 84

Re: New FrontAccounting supported app StrikeOut

StrikeOut has since been worked on and now has a modular payment system. New Payment Methods have been added.

PayPal (includes Venmo, credit cards when applicable)
LNbits Method to receive bitcoin lightning directly.

I have now included a very slightly modified version of frontaccounting that generates Static QR codes on the invoices if you chose StrikeOut as payment link. unfortunately the wiki is a little behind

there is a demo running with a sandboxed paypal and strike module running at

https://btspec.org

note: take care when using LNbits with the frontaccounting module since you invoice in your home currency but the receiving currency is actual bitcoin. You will have to make a bank acct in bitcoin sats. It is not appropriate accounting in most jurisdictions since it is usually treated as property not currency. I will update the front accounting plugin to treat it as inventory and enter the cost basis at the time of payment (the invoice amount).

3 Reply by darelelion12 (edited by darelelion12 09/25/2023 10:30:36 am)

  • From: Pakistan, Shakargarh
  • Registered: 09/25/2023
  • Posts: 1

Re: New FrontAccounting supported app StrikeOut

To receive Bitcoin payments and convert them to USD with zero fees to the merchant (where you never actually hold or touch Bitcoin as an asset), you can use a payment processing service or a payment gateway that handles the conversion for you. Here's a general outline of the steps:

Choose a Payment Processor: Select a reputable payment processor or payment gateway like Cash App that offers Bitcoin payment acceptance and conversion to USD. Some popular options include BitPay, Coinbase Commerce, and CoinGate. You can download Cash App Apk here: thecashappapk.com/

Sign Up for an Account: Create an account with the chosen payment processor. You'll need to provide some basic information about your business and bank account details for USD settlement.

Integrate the Payment Gateway: Follow the integration instructions provided by the payment processor to add their payment gateway to your website or application. This usually involves adding a code snippet or plugin to your checkout page.

Set Pricing in USD: Configure your products or services with prices in USD. The payment processor will handle the Bitcoin-to-USD conversion on the backend.

Receive Bitcoin Payments: When customers make a purchase using Bitcoin, they will be presented with a Bitcoin payment address or a QR code. The customer will send Bitcoin to this address.

Conversion to USD: Once the Bitcoin payment is received, the payment processor will automatically convert the Bitcoin to USD at the current exchange rate. This happens behind the scenes.

Settlement: The converted USD amount (minus any fees, if applicable) will be deposited into your linked bank account. This settlement process typically occurs daily or on a schedule determined by your payment processor.

Manage Payments: You can track your Bitcoin payments and settlements through the payment processor's dashboard. You will receive reports and notifications for each transaction.

Withdraw or Use Funds: The converted USD funds can be withdrawn to your bank account, used for business expenses, or held in your account for future transactions.

It's important to note that while many payment processors offer Bitcoin payment acceptance and conversion, they may charge fees for their services, especially if you require additional features or customization. Be sure to review the fee structure and terms of service for the specific payment processor you choose.

Additionally, stay informed about tax implications and regulatory requirements for accepting Bitcoin payments in your jurisdiction, as these may vary depending on where your business operates.