Payment Integrations – Why is it important?
Companies want to use third party payments gateways to realize a tremendous savings in processing fees, but these payments aren’t connected or automatically reconciled back to invoices in QuickBooks. This creates a lot of manual reconciliation and also introduces the potential for human error. This is why it’s important to have a certified payment integration.
Why choose QuickBooks?
For small and medium sized businesses, QuickBooks is an awesome platform to manage your company. It keeps track of your sales, inventory and tax data. It’s a very easy to use software and has several checks in place to make sure you’re practicing GAAP (Generally Accepted Accounting Principles). QuickBooks provides a number of premade, ready-to-use templates that allow Business Owners to easily create invoices, spreadsheets, and charts. The software also allows you to customize these templates by adding details about your business and company logos. This makes it easy to create invoices and manage your accounts receivable.
Choosing a payment gateway
PayTrace is a payment gateway that allows you to run credit card and electronic check transactions. They are one of the best payment gateways for companies that run B2B transactions. The reason for this is that these transactions are typically very expensive, and PayTrace has interchange optimization that lowers the rates on these cards. In 2019, PayTrace settled over $35 billion in transactions, with almost $20 billion coming from these card types. PayTrace can lower the cost of accepting these cards by up to 35%! They also have a fully documented API to allow PayTrace to integrate with third party applications.
Bringing it all together
This is where Chargezoom comes in. As the only certified integration, the Chargezoom platform allows you to connect your QuickBooks Desktop or QuickBooks online invoices to PayTrace. Chargezoom allows you to run the transaction with a credit card or electronic check, and then automatically apply the payment back to QuickBooks in real-time. Chargezoom also allows you to email out invoices with a payment link, allowing your customers to pay off their own invoices. Features like recurring billing and subscription management are also available. This allows you to create and manage multiple recurring billing options: trials, discounts, one-time charges, setup fees, fixed-prices, quantity-based and more.