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Payments, Earnings & Setting up Your Stripe Account
Payments, Earnings & Setting up Your Stripe Account
Updated over a week ago

Getting paid on Shef

As a shef, you will keep 75% of each item you sell, plus 100% of any tips from customers. Shef takes 25% of each transaction to cover the services we provide, including delivery operations, customer service, shef support, marketing, and website operations. As a reminder, you set your own prices for the items you offer on your menu, and you can change those prices anytime.

During your onboarding process, you will setup (or connect your existing) Stripe account to your Shef account. Stripe is the accredited payment processor used for all transactions on Shef.com. Stripe will process your payments for each order on an ongoing basis, one day after your order is successfully delivered. Your payment will be deposited directly into the bank account you connect in Stripe within a few days of delivering each order.

All shefs who sell on the platform are 1099 contractors. Once you reach the earnings threshold requirement, Stripe will issue you a 1099 for your taxes.

As a reminder, there are no fees to set up an account on Shef or Stripe. Your Stripe account is only used to process customer payments.

When payments are issued

Payments go through a third-party payment processor (Stripe). After a delivery day, the funds can take up to 24 hours to be reviewed by Stripe. Once reviewed, it can take 3-5 business days for the funds to appear in your bank account, depending on your bank or financial institution's processing time. You can confirm your payout schedule and estimated payout timing under "EST ARRIVAL" in your Stripe Dashboard.

Updating your direct deposit bank account information

As a sole proprietor, you have full control over your Stripe account. For instructions on how to update your existing bank account information, click here. If you need more help, please contact Stripe Support here.

Connecting multiple Stripe accounts to your Shef account

We currently only allow one Stripe account to be connected to your account.

This means if you want to use a different Stripe account or update your information, we recommend going to this Stripe Article on updating your Bank account information.

Customer tips

When viewing your earnings on the 'My Orders' page of your Shef dash, your tips are always included in your total earnings. You are shown your tips separately, so you know how much of your total earnings comes from tips. If your totals don't seem to be adding up correctly, this may be why.

How promo codes impact earnings

When you create a promotional code on your end, the amount you set will be deducted fully from your earnings whenever a customer uses it for a purchase from your menu. If the promotional code was created by Shef (us!), your earnings will not be impacted.


Setting up & connecting your Stripe account

1. Log into your Shef Dashboard and click on “My Profile”. Scroll down to the bottom and click “Connect your Bank Account”.

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2. Enter your email address, choose a password, and enter your phone number. You will receive a text message with a code to enter on the next screen. After your code is entered, you will be given an emergency backup code. Write this down somewhere safe as it can be used to gain access to your account if you ever get locked out.

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3. Choose “United States” for your registered business address and “Individual” for your type of business (unless you have previously filed paperwork to register your own business entity, like an LLC).

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4. Verify your full legal name, email address, and birth date are entered.

The Home address and Phone number should already be filled out with Shef, Inc.’s information. DON’T CHANGE THIS. If this isn’t already filled out, enter this:

Address:

149 New Montgomery St. San Francisco, California 94105

Phone number:

+18447307448

Then type in the last four digits of your Social Security Number and click “Continue”.

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5. For Industry, click “Food and drink” and then choose “Caterers”.

Your website should be listed as “https://www.shef.com” and Product description should read, “Goods and Services - prepared meals”.

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6. You will now connect the bank account you would like to receive your direct deposit payments in.

The quickest way to do this is to click the “Enter bank details manually instead” text and then enter your routing and account numbers.

Alternatively, you can search for your bank, which will have you log into your online banking account and allow Stripe access to your account details.

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7. After verifying your bank details, enter “www.shef.com” for your Statement descriptor and “shef.com” for your Shortened descriptor. This is what shows up on your customer’s bank statement when they purchase food from you.

Below that, Shef, Inc.’s support number and address should already be filled in. If it is blank, use the following phone number and address:

Address:

149 New Montgomery St. San Francisco, California 94105

Phone number:

+18447307448

This is where customers will contact if they have questions about Shef transactions on their bank or credit card statements, and that is what our team is here to help with.

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8. You will review all the information you just entered on the next screen and will be brought back to your Shef Application.

Now that you’ve finished your Stripe account setup be sure to check your email for a message from Stripe asking to verify your email address.

Log back into your Stripe account after verifying your email address by clicking the “View/Modify Stripe Payment Details” in your Shef Profile to check for any messages that appear at the top of your screen. Stripe may request to verify a piece of identification or other information.

If you see a request for missing tax information, this usually means that Stripe needs you to input your full legal name and Social Security Number as your 'Tax ID Number'. Log in through your Shef Dashboard and enter your full legal name that matches your US legal/tax documents exactly. For your Tax Identification Number, enter your social security number unless you are using a separate tax identification number for an existing LLC business.

Completing these steps will help to ensure you receive your payments from your customers in a timely manner.


Payment issues

If your total payout is less than expected

If you've delivered ALL your orders, this could be related to multiple factors such as:

  • Have you had any refunded or cancelled orders?

  • Have you issued any promotional codes recently?

  • Were some items reported missing from any of your orders?

We recommend checking your order history in your Shef dashboard, checking your email inbox for any notices from the Shef Support team regarding any issues with your orders, and making sure that the promotions you created are being used correctly.

If you haven't received a payment in over 5 days

  1. We recommend checking your Stripe and bank account first. There might be a hold related to documentation or a holiday related delay. There may be a banner at the top of your Stripe account asking for additional steps to clear incoming payments. If you checked the 'EST ARRIVAL' in Stripe and the date hasn’t passed yet (end of day), please wait and check your bank account on that date.

  2. In the event that you see a red RESTRICTED banner on your Stripe account, be sure to hover over it to see if there's a specific note asking for action to be taken on your end. If it is asking for identification information, you can update your information on your Stripe dashboard. Please reach out to Stripe support for further assistance if you continue to have any issues with a Stripe account restriction.


Tax Information

  • You are selling food as an independent contractor (tax code 1099).

  • If you meet the earnings threshold for 1099 income, you will automatically receive 1099 documents from Stripe to use for your taxes during tax season.

  • Please keep track of your receipts because they will come in handy when you are filing your taxes.

Payment reminders:

  • In most cases, you will keep 75% of your earnings plus 100% of your tips. You set your own price for menu items and can adjust them anytime.

  • Stripe will process your payment for each order one day after your order is successfully delivered. Your payment will be available in your bank account within a few days, depending on your bank's processing time. You can always check the status of payments by logging into your account on Stripe.com.

  • There are no fees to set up an account on Shef. Your Stripe account is only used to process customer payments.

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