Choosing Your Cloud Accounting Software: Seamless Payment Integration for Calmer Cashflow

Cloud Accounting: Your All-in-One, Seamless Software Solution.

In today’s fast-paced, competitive business environment, having the right tools and systems in place is crucial for success.  

One tool often overlooked is accounting software, which is painfully unfortunate, since accounting software can help you manage your finances much more effectively, saving you time and reducing the risk of costly errors.  

With so many variations available, finding the best solution can take a lot of time. So, we have created this blog series, in order that we may help shed some light on the best options available on the market in 2023.  

In order to elevate your accounting strategy to its maximum capacity, it's important to make sure your package covers all areas of your business operation.

For a business to run optimally, we recommend integrating a mixture of five essential categories (all of which will be covered in this blog series). These include:

●     Receipt Capture

●     Payment Integration

●     Bookkeeping/ Accounts Software

●     Cloud Payroll

●     Management Accounts and Reports

‍

In the opening blog post, we discussed choosing your accounting software in accordance with your business’ unique needs, so feel free to head over and read that first if you missed it (here, we consider cloud compared with desktop, scalability, user-friendliness, integration capabilities, software reputation, trial periods and pricing).

Today, we will consider payment integration. That is to say, online payment platforms allowing businesses to seamlessly accept and process various forms of payment from customers. We will assess the various benefits as well as revealing our payment integration top picks for 2023.  

‍

Why Opt for Payment integration?

‍

1. Convenience

Payment integration allows your businesses to offer a variety of payment options to your customers, making it more convenient for them to make purchases.  

‍

Whether it's credit/debit cards, mobile wallets, or other digital payment methods, customers appreciate having choices that suit their preferences.

‍

2. Increased Sales

Offering multiple payment options can lead to increased sales.  

The reality is that your customers are more likely to complete a purchase if they can use their preferred payment method, reducing the likelihood of abandoned shopping carts.

‍

3. Global Reach

Payment integration could enable you to expand your customer base far beyond your local market.  

‍

By accepting international payment methods and currencies, your business can tap into a global audience, vastly increasing revenue potential.

‍

4. Faster Transactions

Integrated payment systems often streamline the checkout process, reducing the time it takes for your customers to complete their purchases.  

This can lead to improved customer satisfaction and increased conversion rates.

‍

5. Security

Many payment integration systems come with robust security measures that help protect sensitive customer data, reducing the risk of fraud and unauthorized access.  

This can help you to build trust with your customers and protect the reputation of your business.

‍

6. Automation and Efficiency

Payment integration can automate various aspects of the payment process, such as invoicing, payment tracking, and reconciliation.  

This can free up valuable time and resources for your businesses, allowing you to focus on other core activities.

‍

7. Real-Time Reporting and Analytics

‍

Did you know that integrated payment systems often provide access to real-time transaction data and analytics?

This information can offer insights into customer behaviour, sales trends, and revenue patterns, enabling informed decision-making.

‍

8. Scalability

Perhaps the most vital benefit of payment integration relates to the heightened capacity for scalability. As your business grows, payment integration can easily scale to accommodate higher transaction volumes and increased customer demand without causing disruptions.

‍

Payment Integration: Top Picks for 2023.

‍

Stripe

Stripe is an innovative payment platform known for its developer-friendly approach and comprehensive features.

Its seamless API integration allows businesses to accept various payment methods, including credit cards, digital wallets, and even emerging payment options.

Stripe's real-time analytics provide insights into sales trends and customer behavior, enabling businesses to make data-driven decisions.

And its robust security features protect sensitive payment information, instilling customer trust.

Additionally, Stripe supports subscription and recurring billing, making it ideal for subscription-based models. Its scalability accommodates growing transaction volumes, and its global reach facilitates international expansion.

‍

By leveraging Stripe, businesses gain a flexible, customisable, and secure payment solution that enhances checkout experiences and supports growth with invaluable analytics.

‍

GoCardless

GoCardless specializes in bank-to-bank payments, offering direct debit solutions that streamline recurring billing and subscription management.

Businesses benefit from reduced transaction fees compared to card-based payments.

GoCardless automates payment collection, enhancing cash flow predictability. Its pre-authorized debits minimize late payments and improve revenue stability.

The system integrates with various accounting software, simplifying financial reconciliation.

‍

GoCardless is particularly valuable for businesses with subscription models, service-based offerings, and those seeking an efficient way to manage recurring payments.

‍

PayPal  

PayPal is a widely recognized and trusted payment system that caters to diverse customer preferences.

Its user-friendly interface supports various payment methods, enabling customers to pay with credit cards, debit cards, PayPal balance, or bank transfers.

PayPal's buyer and seller protection also enhances customer confidence, reducing disputes.

‍

PayPal's global acceptance and multi-currency support are advantageous for international businesses.

‍

PayPal's One Touch feature expedites checkout, boosting conversion rates. It offers seamless integration for e-commerce platforms and is accessible through mobile devices.

PayPal's versatility and familiarity make it an accessible choice for businesses looking to offer convenient payment options to a wide range of customers.

‍

Cloud Accounting with Gow and Partners.  

Our tech-savvy accounting team are experts when it comes to cloud accounting. We’ve helped hundreds of businesses across Lancashire transition from desktop to the cloud with ease.

As part of our cloud accounting and app advisory service, we assess the unique needs of your business and review current systems, offering you a personalised software package to help streamline your finance function.  

By acquiring your cloud accounting package with Gow and Partners, you'll receive a substantial discount on all your software subscriptions, while also benefiting from a fixed rate.

‍

What’s more? After you connect your account with Gow and Partners, we'll be able to see your data in real time, helping us provide more accurate and relevant financial advice.    

‍

Set Yourself up for Success   

‍  

Did you know that we run the highest rated accountancy firm in Blackburn with Darwen?  

‍ 

Book your 30 minute discovery call  today— enjoy a relaxed, no-obligation chat with one of our qualified accounting advisors. We can assess your situation and determine how to best serve and add value to your business.    

Alternatively, you can send us a message with any queries (big or small), and one of our team members will get back to you promptly.