It can be frustrating when customers don’t pay you on time. Having efficient payment processes in place for your business is essential to maintain a steady cash flow. Traditional methods of invoicing and collecting payments such as asking your clients to pay the invoice by BACS when they receive the invoice can result in delays causing late payments.
Finding the time to chase late payers can be difficult and you may also feel uncomfortable doing so. It’s important to explore various options that can help you to improve your payment process. In this blog we’re going to look at how GoCardless and Stripe can help you to get paid much faster.
Stripe and GoCardless
Using Stripe and GoCardless to collect your payments is a reliable way to ensure you’re getting paid on time. They are both different methods but both will result in the same outcome, making it easier for clients to pay you and them not having to worry about making the payment manually every time.
Stripe processes payments using your customers card details and will bill the card on the same day each month. Alternatively if payments vary each month then they can simply click a button to process the payment. Once their card is set up in Stripe they won’t need to enter it each time.
GoCardless requests that your customer sets up a direct debit so that payment can be taken automatically each month on a set date from their bank account.
Benefits of Stripe
- Seamless integration with websites and apps including your accounting software
- Secure payment processing with advanced fraud prevention measures
- Customisable payment options to suit different business needs
Benefits of GoCardless
- Direct Debit system for reliable and automatic collections
- User-friendly interface for easy setup and management
- Flexible payment scheduling and options for customers
At Numberwork services we help our clients to set up payment processing methods which suit their business. Many clients have reported a significant improvement in cash flow since introducing this and they’re no longer having to worry about making time for credit control.
If you’re looking for a bookkeeper who can help you to streamline your processes to get you some valuable time back, then look no further! Get in touch today.