Payment Receipt

Introduction

Creating and issuing payment receipts is one of those time-consuming tasks that fall to the finance team. Fortunately, cloud invoicing software provides a fast, uncomplicated way to send proof of payment to your end customers.

Typical Problems

Keeping customers informed of the business’ latest bank details is often a challenge with finance having to manually update the invoice layouts before they are issued.

As customers move to cloud models and Direct Debits the recording of customers’ payment methods and card details can be a complex and admin-heavy process.

The tracking of customer payments is a time-consuming task involving manual entry into the accounting system from a bank statement and subsequently the manual matching to invoices within the system then direct communication with the customer for payment confirmation.

Solutions

A true cloud-based solution allows for seamless integration between the accounting solution and payment provider to automate the entire process of creation and issuing of payment receipts to the end customer.

By fully integrating with a payment provider, it is possible to generate payment links that can be automatically included on customer invoices, ensuring up-to-date bank details and ease of matching to the original invoice without manual intervention.

Benefits/ROI

With a fully-integrated finance and payment solution, there is no need to manually handle customers’ sensitive data such as bank or credit card details.

Customers have an immediate way to pay which can be more convenient for them and less likely of a delay in payment, improving cash flow and reducing the workload for the credit control team.

References

Example integrations include

• Asperato
• Stripe
• Chargebee
• Plaid
• Bank Feeds