Small business owners were hit hard by the Covid-19 virus crisis. Unfortunately, many businesses had to close their doors because they could not survive the closure of their business over the past 2 months. As bleak as this sounds I saw this season in our business journey as a time to fine-tune different areas within our business. This month we took a look at how using a bookkeeping system can help you to pull reports so that you know how much you are making in your business. Additionally, we also took a look at tools you can use to automate things in your business. Today, I want to take a look at how you can get paid faster by your customers by getting paid online. Here are 3 tools you can use to get paid faster:

Quickbooks Payments - According to their site, Quickbooks payments allow you to accept debit, credit, and ACH bank transfers from your client. This is an excellent tool and has many features like recurring charging for customers that are billed the same thing each month. The pricing ranges from 1% per transaction for ACH bank transfers to 2.9 % + 25 cents per transaction for online invoicing. This pricing is for existing QuickBooks Online Customers. For new customers, you will need to set up a QuickBooks online account and then sign up for the payment feature. They do have an option to use the payment feature as a stand-alone product with Go Payment or their desktop offering. But if you want to use the online feature then you will need to have a QuickBooks Online subscription.

Freshbooks - Freshbooks is a cloud accounting software that has an invoicing and billing feature that can help you get paid faster online. You can use it with Stripe as the backend merchant servicer that pushes your customer deposits into your bank account. It has the option to accept credit, debit, and ACH payment methods and it also has a recurring billing feature. The pricing to use Freshbooks ranges from $15 to $50 for their most popular plans. Currently, they are offering a six month discount on all their plans and if you just want to try them out you can do that for 30 days and get your money back if you don’t like the service. Stripe charges 2.9% + 30 cents per transaction.

PayPal - PayPal is a well-known site that many of us use for personal money sending transactions. The online invoicing feature for businesses makes it easier to get paid online from your customers. You can send your customer an invoice and they can pay via credit card or their PayPal bank balance. There is also a feature for recurring billing to your customer. There isn’t a monthly fee to use the service and the rates are 2.90% + 30 cents per transaction and you only pay the fee when you get paid by your customer.

There you have it! 3 tools you can use to get paid faster online and a quick recap of the month of June’s Blog posts. And as always…..Keep IT Sunny!