Are you using QuickBooks Go-Payment mobile app with check deposit?

A QuickBooks mobile app makes sense when you save your own and your staff’s time as well as reduce the working capital needed to finance your small business.  Any of these advances can give you an advantage over your bigger competitors.  

The sales, billing and collection process is one area that may offer opportunities. The good news is that QuickBooks and some banks have had mobile ‘plug-in” technology for billing and collecting cash for a number of years.  You have seen these services advertised, you have seen these services in action……..but you may not have signed-up!

It is essential you start with a cost benefit analysis to make sure that your business will have a clear advantage if it adopts the technology and optimizes the sales, billing and collection process.

The ‘plug-in” nature of the technology and support available to small business to adopt proven selling, billing and collection best practices will allow you to move forward at less cost and taking-up less of your time than you might think.

Here are the advantages that you stand to achieve.

1.  Never miss an opportunity to make a sale at anytime and anywhere.
2. Bill customers and receive payment without having to go back to your office or having office staff involved in a wasteful time delay. 
3. Deposit funds at your bank without having to go to the bank branch, taking up your time or your staff’s time.

A process needs to be formalized that optimizes activities between the office and the client location and you will need to do a couple of friendly practice runs.

If in this process you can collect payment and have it deposited at your bank and synced to your QuickBooks Desktop or OnLine accounting system automatically, you can see that a tremendous amount of time has been saved.  You can reduce the time you or someone else spends in the office and you or your staff don’t have to go the bank to deposit funds.

Here are the two ‘plug-in” services you need.

QuickBooks GoPayment service allows payment in the file by credit card with or without a card swiper on your mobile phone. You can also add a ‘Pay Now” button to your emailed invoice for your client to transfer finds directly to your bank account. You can also record cash payments. This will be synchronized to your QuickBooks Desktop or QuickBooks Online systems.

Chase Bank’s QuickDeposit will allow you to accept a check from your customer on your mobile phone or tablet by taking a photograph of both sides of your endorsed check and deposit directly into your bank without visiting the branch. You follow this with an electronic download from the your bank’s online banking platform into QuickBooks.

Your business cash is collected and in the bank and all your records are electronically entered into your  QuickBooks accounting system.

Visit our website www.mottramcpas.com and start that cost benefit analysis.