Canadians have more payment options than ever, including installment plans, subscriptions, digital wallets, credit cards, and e-transfers. As a business owner, that's a lot to keep track of.
As more small businesses expand their payment offerings, finding the right recurring payment software is crucial. We'll show you how the best software allows you to create and manage payments as your client load grows. This way, you can improve customer experience while reducing your administrative burden.
Table of Contents
Any business owner who has ever chased payments understands the value of setting up recurring payments. Maybe you're a bookkeeper automating your monthly client invoices or you run a cleaning service, and you're tired of missing payments. A recurring payment system gives these benefits:
If you've been manually entering recurring payments, you know the frustration of missed invoices, late payments that disrupt your company's cash flow, or an administrative workload that keeps growing.
Fortunately, recurring payment software is a solution to all of these operational challenges. Whether you're trying to streamline B2B payments or just save time issuing invoices to your customers, you need a recurring payment solution.
|
Recurring payment software also solves payment challenges for your clients and customers. Instead of manually entering payment details, the payment software conveniently stores and processes the data automatically. |
If you're ready to learn how to collect recurring payments from clients, here's what you need to look for in a software program:
| Feature | Why it matters |
|---|---|
| Billing automation | Reduces manual work |
| Payment processing | Simplifies collections |
| Reporting | Improves visibility |
| Payment reminders | Helps reduce missed payments |
Entering payment information manually works for most small businesses until it doesn't. If your company is scaling up, you're spending more time on admin, or payment mistakes are eating into profit, it's time for recurring payment software.
For example, manual entry might have worked at first, but you'll want software to improve payment efficiency after growing to 50 client accounts. Recurring software also makes it easier for customers since they only have to enter payment details once.
Recurring software also has the benefit of giving more accurate and instant revenue visibility that's valuable to small businesses. For instance, if you manage a seasonal business, you can use projected revenue to help you plan ahead.
Software like Intuit QuickBooks helps you manage your business by improving your company's financial management.
Once you've narrowed down payment software options, identify the best fit by asking yourself these questions:
Recurring payment collection software, like Intuit QuickBooks, manages all aspects of payment, from billing automation to collection and customer support.
The software instantly updates payment details and reconciles the data across systems, so you don't have to manually check accounting.
QuickBooks Payments also handles financial reporting and CRA compliance across all clients. This improved financial visibility helps you make important business decisions as your business scales up.
Since Intuit QuickBooks accepts a variety of payment types, your customers have more flexibility and payment opportunities. This can improve customer experience.
|
With Intuit QuickBooks recurring payments, you decide which payment methods you'd like to accept, and the software does the rest. |
When choosing recurring payment software for your small business, you want one that meets your current billing and payment needs and supports your business as it scales.
Intuit QuickBooks streamlines the payment process, improves the customer experience, and gives you improved financial visibility. If you're ready to spend more time growing your business and less on pursuing payments, check out QuickBooks Payments.
This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by region, province, state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit does not warrant that the material contained herein will continue to be accurate nor that it is completely free of errors when published. Readers should verify statements before relying on them.
We provide third-party links as a convenience and for informational purposes only. Intuit does not endorse or approve these products and services, or the opinions of these corporations or organizations or individuals. Intuit accepts no responsibility for the accuracy, legality, or content on these sites.
Call Sales: 1-888-829-8589
