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Use Recurring Sales Receipts to Get Paid On Time

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Have you ever been so crazy-busy you missed paying a monthly invoice or bill on time? You’re certainly not alone. But as a business owner banking on timely payments from customers, you need to minimize the likelihood of late payments as much as possible.

 

Fortunately, QuickBooks Online has features that make it quick and convenient for your regular customers to pay you. More good news: if you approach the conversation as an opportunity to better understand and meet your customers’ needs, you might just strengthen your business relationship as a result.

(Frustrated by chronically late payments right now? 
These strategies may be helpful.)  

 

 

Why Recurring Sales Receipts can be a win-win

Let’s say you own a flower shop, and one of your regulars places a recurring order for the same five seasonal bouquets every week. If you use QuickBooks Payments, this is a perfect opportunity to use the Recurring Sales Receipt feature to charge their credit card automatically. In many cases, this option spells a win-win for you and your customers. You can count on reliable income each week, and they skip the hassle of constantly making payments.


If your customer agrees to let you keep track of payments by using this feature, here’s what you’ll need to do next.

 

(Note: before you begin, please read and understand the appropriate legal compliance standards


Connect with your customers

 

  • Ask for permission to make payments on their behalf and find out which day of the month they prefer to be charged. Let them know there will be a form to sign after you create the first Recurring Sales Receipt.

  • To process credit cards in QuickBooks, businesses need to set up a QuickBooks Payments account. Do not use Recurring Transactions to bill customers for partial payments or add additional credit card fee charges.

 

 

 

Set up recurring transactions from a Sales Receipt


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  • Once you have permission, create a new Sales Receipt template for five seasonal bouquets. Go to the bottom of the form and select “Make Recurring.” This refreshes the form with some additional data fields.
  • Add your customer to the Sales Receipt. Make the Sales Receipt Type “Scheduled.” Since these bouquets are seasonal, include an end date so the customer has the option to make changes.

  • Check the box that says “Automatically send emails” so the customer is notified each time you charge their card. Finally, fill in the details you want to include for every subsequent transaction.

 

 

 

Enter the payment method

 

  • If possible, ask the customer to come into your business so you can input their information together. This will make them feel even more confident buying from you. Otherwise, make sure they send the details through a secure channel.

  • Select the credit card type under “Payment Method” and enter the card details. Make sure you check “use this credit card in the future for this customer” on the Credit Card Information Screen. Finally, designate the account you want the money deposited into from the “Deposit to” drop-down.

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  • Once you save the template, the “Automatic Credit Card Billing Authorization Form” will display. Print this out and ask the customer to sign it. Hold onto the form for the duration of the agreement.

 

 

 

Payment management

 

  • To edit or remove a customer payment method, go to the “Customers” tab in the Sales Module, select the customer, click “Edit” and then remove the information in the “Payment and Billing” Tab.

  • Pro Tip – Do not digitally store or keep hard copies of this information. 

  • Important – To be in legal compliance with PCI standards, merchants must enter an agreement with the customer (and sign the Automatic Credit Card Billing Authorization Form) to keep their cards information on file and make charges on the customer’s behalf. Learn more about these compliance rules:

 

 

Learn more about dealing with late payments:

 

 


Share your advice with the community

 

How do you build strong relationships with your customers? What do you do to ensure you get paid on time?