No one likes waiting to get paid by a client. It’s painful to make collection calls and even worse hearing that “the check is in the mail.” For all these reasons, accepting credit cards has become a reasonable cost of doing business and is now widely accepted. Don’t stop there, however. A logical next step is to integrate this task inside QuickBooks, resulting in huge time savings by eliminating manual entries.
Harness QuickBooks Payments
When you use QuickBooks Financial software (online or desktop) and add QuickBooks Payments, you make your software super powerful because you can now accept many forms of payment, including credit card payments and ACH. When this method is used, you can track the customer’s payment from beginning to end, where the invoice is showed as paid.
The rates for QuickBooks Payments are reasonable and in most cases lower than the rates of their competitors. Funding for credit cards is around 2-3 days, and 5 days for ACH. You can test drive it without any long-term contracts or termination fees. It’s the only merchant service provider that is integrated in QuickBooks software.
Four Tools to Facilitate and Speed Payment
There are several methods for getting paid. Below are four tools we use:
1) QuickBooks Payments
- Clients can call in their payment information to manually key.
- Clients can present the card to swipe or manually key.
- Email your client an invoice and they can click a pay now link to pay.
2) GoPayment Mobile
QuickBooks Payments includes GoPayment (GP) for no extra fee, it even uses the same low swipe rate. You can sign up for GP separately but it has a different, higher rate structure. Be sure to understand that GP isn’t fully integrated in your financial software, so you are required to perform a few extra steps to line it up with the correct invoice.
Another great feature is that QuickBooks Payments now includes e-Invoicing. This allows you to email a client an invoice and they simply click a link to pay the invoice in full. There is no extra fee for this service. This is a very popular feature and easy to use.
4) Bill & Pay Provides Advanced Electronic Invoice Features
If you have the need for any of these other features, we recommend Bill & Pay. It integrates with QuickBooks Financial Software, and uses QuickBooks Payments. You would use this program instead of e-Invoicing.
Here are some reasons to utilize this additional tool:
- Create payment plans that are approved by the client.
- Clients can log in to their portal to see their invoice and payments history.
- Clients can short pay, overpay, and use different credit cards on one invoice.
- Put a link on your website so clients can access their account.
- Set up automatic reminders to send to clients with unpaid invoices.
- Email statements to customers with a pay now link.
- Send a sales order with a pay now link.
A Winning Combination
At Complete Business Group, we use QuickBooks Payments, QuickBooks Bill & Pay, and QuickBooks Enterprise. We have used this winning combination for over six years. If our clients do not need the additional features offered by Bill & Pay, we simply set them up to use QuickBooks Payments and utilize all the free tools, including e-invoicing and Go Payment.
The bottom line is that we all want to get paid — and we want it to be as fast as possible. Try QuickBooks Payments today at no risk, as you can cancel anytime with no termination fees. If you find you need additional benefits that e-invoicing cannot offer, then add the additional tool of Bill & Pay for a winning combination.