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evanmck17
10-21-2014, 07:31 PM
I was wanting to know more about going to paperless billing with my business. I realize that somehow I am going to have to link my bank account with either a customer bank account or credit card. How do most businesses do it? Obviously with Spotify or something you just enter your credit card information one time and then they automatically charge you. I was wondering if this would cost me per transaction or really how I could go about this. Thanks in advance for the help.

Brian Altenhofel
10-21-2014, 07:37 PM
I use Quickbooks, so I have a lot of clients and customers pay me electronically.

Your cost is going to depend on your credit card processor.

Harold Mansfield
10-21-2014, 08:58 PM
All my transactions are electronic. It costs me 2.9%, and probably saves me hours of work, days, time, and headache. Plus it's more convenient for everyone, I don't have to wait for payment, no bank fees, stationery, postal costs, ordering checks, blah, blah, blah.

I can't imagine running a business that sent out paper bills and had to wait for payment by check and then wait for the checks to clear.
Seems like the 1970's.

Fulcrum
10-21-2014, 09:07 PM
I can't imagine running a business that sent out paper bills and had to wait for payment by check and then wait for the checks to clear.

You've just described my billing system with this though my invoices get dropped off right away.

Brian Altenhofel
10-22-2014, 12:04 AM
I can't imagine running a business that sent out paper bills and had to wait for payment by check and then wait for the checks to clear.
Seems like the 1970's.

Many of my clients still prefer to do it that way, though I've gotten most of them to accept the bill via email. The ones that want paper get them via an email-to-USPS service.

And yes, I've got one that still wants documents faxed, so I use an email-to-fax service.

Check clearing isn't an issue with my type of clients, especially the ones who pay 100% upfront or a retainer. I kind of like receiving checks anyway... it forces me to get out of the house and take a 20 minute drive each way to make the deposit, and I'm the type that needs that shove.

Harold Mansfield
10-22-2014, 10:12 AM
Don't get me wrong, I know there are a LOT of businesses that still run it this way because that's just still the way it is. I mean most everyone takes checks still. Especially if you are in any kind of personal or home service. Even though it's 2014 very few landscapers, for instance, have a card swiper on them.

I'm an anomaly in that I DO NOT take checks for many reasons, but mainly because most of my clients are on a time table and sending a check is not the way to get something started immediately.

Every now and then, maybe once a year, someone asks me to fax something. I don't have a fax and I'm not buying one. If I can't get them to accept an email with an attachment ( which I still don't understand why that isn't the same thing), I'll use something like Pam Fax for a one time send.

evanmck17
10-23-2014, 05:44 PM
What software do you use?

evanmck17
10-23-2014, 05:45 PM
All my transactions are electronic. It costs me 2.9%, and probably saves me hours of work, days, time, and headache. Plus it's more convenient for everyone, I don't have to wait for payment, no bank fees, stationery, postal costs, ordering checks, blah, blah, blah.

I can't imagine running a business that sent out paper bills and had to wait for payment by check and then wait for the checks to clear.
Seems like the 1970's.

What software?

Harold Mansfield
10-23-2014, 06:05 PM
What software?

For billing? Not a software, I use Pay Pal invoicing. To me it's awesome. Mobile card reader to take payments on the go. Customized invoices. Instant payments. It integrates with whatever additional software I'm using. The convenience and security is worth the fees to me. Some people don't like it. Find whatever works for you.

I still use Quickbooks for detailed invoices, proposals, bids, and accounting.

I rarely have a need for anything on paper. I haven't changed the ink in my printer in over a year. At least.

billbenson
10-23-2014, 06:13 PM
It's going to depend on your customer base. I sell B2B and have to deal with FAX's a few times a week an some require a physical bill to be mailed. And I'm referring to some very large companies. Anheuser-Busch requires Net 120 days from their vendors.

webdesignphx
10-23-2014, 06:48 PM
I use Quickbooks, so I have a lot of clients and customers pay me electronically.

Your cost is going to depend on your credit card processor.

I like QB's a lot too for small businesses! I use online now so I can bill from my cell phone.

Brian Altenhofel
10-23-2014, 09:26 PM
I rarely have a need for anything on paper. I haven't changed the ink in my printer in over a year. At least.

That's why I changed to laser. I was having to buy new ink cartridges every time I printed because the ink was dry. Four years later, and the only toner I've changed has been black, and that's just recently.

TTS
10-24-2014, 07:56 PM
I use a crm program designed for service industries. When I want to bill (daily, weekly, monthly, etc) its one click and it automatically emails bills to those that want them emailed and prints bills and envelopes that want them mailed. The emails include a link that they can pay online through my stripe account. I prefer this because thrn I don't have to store any of their card info on my end

businessbee123
11-06-2014, 10:50 AM
Paypal invoicing works so well- the only problem is they take a 3% cut when someone pays you. That can really add up...

Harold Mansfield
11-06-2014, 11:24 AM
Paypal invoicing works so well- the only problem is they take a 3% cut when someone pays you. That can really add up...
Raise your rates 2.9%, or get your deduction on your taxes. You should not be eating this. No one else does.

Brian Altenhofel
11-06-2014, 02:36 PM
Paypal invoicing works so well- the only problem is they take a 3% cut when someone pays you. That can really add up...

Just like credit card fees, it's a cost of doing business. If it's convenient for the people paying you, then most likely the increased revenue offsets the increased costs by a large margin.