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Integrating Digital Payment Gateway with Accounting Software

The digital payments option is not only meant to retailers or online business. When the world moves more and more into the digital world, and digital is how the world makes payments these days, you should provide digital payment option to your customers irrespective of what business or industry you are in. By providing more comfortable digital payment options to your customers, you get payments quicker, almost automated.

Do you still send people to collect cash or cheque from your customers and deposit it into the bank account later? It takes lots of time, efforts and human resources until you finally get the fund in the bank account after you have issued an invoice and it became due! Or do you still ask your customers to make the transfer of payment to your account? The customer has to send someone to the bank to make the transfer (if the customer is still not on net banking) or has to go online banking, key in your information and amount to complete the online transfer! Then, customer to confirm the payment, check the bank account to confirm the receipt, and enter the receipt in your accounting system! Doesn't it take too much time and efforts?

This way of doing business provides lots of excuses to delay the payments. There is scope for improving the whole process and workflow. There is a way to make life easier for you and your customers?

Give your customers more ways to pay you and make it easier for them. 

The cash is the business's lifeblood, and it is critical that you receive payment on time to manage the working capital and cash flow better and run the business smoothly. It would help if you did everything possible to get the payments on time. Yes, give your customers more ways to pay you and make it easier for them. 

Providing online payment options with a payment gateway service and integrating it with an accounting system automates the workflow.

For example, Zoho Books accounting software provide integration with payment gateway. Once you have created an invoice, the same is sent to the customers directly from the Zoho Books by email, including a link to make payment online. Customers click on the link and make payment. The customer payments get updated in the accounting system, and you and customers get notified. Zoho Books has options to automatically follow up for the customer payments with reminders option by SMS and email. The whole workflow is automated! It makes life a lot easier for you, your employees and the customers. 

The banking features in Zoho Books enables direct sync of bank transaction feeds with the accounting system, and bank reconciliation is a breeze.

By moving from a traditional accounting system to more futuristic accounting software that digitises the process and provides lots of workflow automation, you improve the whole accounting and finance management with accurate and up to date data and reporting. 

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