As businesses continue to adapt to the digital age, accepting payments electronically has become an essential part of their operations. QuickBooks, the renowned accounting software, offers a variety of add-ins that seamlessly integrate with its platform, enabling businesses to accept payments from vendors with ease. These add-ins not only simplify the payment process but also provide additional services that can enhance your overall business operations. In this blog, we will explore some recommended QuickBooks add-ins that empower you to accept payments from vendors effortlessly while unlocking a host of other valuable functionalities to fuel your business growth. Let’s dive in and discover the possibilities!
Bill.com
|
Introduction |
Accounts payable and receivable automation tool that enables businesses to streamline payments and invoicing, save time, and reduce errors. The intelligent way to create and pay bills, send invoices, and get paid. |
|
Features |
o Sync Bank Data Automatically o It offers various payment options, including ACH transfers, virtual credit card payments, and checks o Supports multi-currency transactions o Platform offers various reporting options, including real-time financial reports. o Bill.com offers a centralized location for storing and managing financial documents. |
|
Integration |
It provides two-way data sync between QuickBooks & Bill.com |
|
Pricing |
Monthly Charges – $55 user / month e-Payment/ACH processing fee – $0.49/send & receive Get paid via credit card payment – 2.9% transaction fee/payment International wire transfer (USD) – $14.99 per transaction |
| Remarks |
It is particularly useful for businesses with a high volume of accounts payable and accounts receivable transactions, such as those in the real estate, construction, and healthcare industries. It is also popular among businesses that have multiple locations or remote teams. |
For further details, visit – https://www.bill.com
Plooto
|
Introduction |
Plooto is a cloud-based payment automation platform that helps businesses streamline their payment processes. It allows businesses to manage and automate their payables and receivables, make international and domestic payments, and provides payment tracking and reconciliation. |
|
Features |
o Bank account and credit card integration for seamless payment processing and avoids expensive wire transfer fees o Multi-currency support o It provides electronic invoicing and payment collection facility o Plooto offers automated payment reminders to ensure that customers are paying on time o The platform can Search and Store Digital Records |
|
Integration |
A two-way sync between Plooto account and QuickBooks creates clear payment records, audit trails, and easy reconciliation. |
|
Pricing |
Monthly Charges – $32 user / month Domestic Payments – $0.50 /send & receive Get paid via credit card payment – 2.9% + $0.30 per transaction International – $10.00 per transaction |
| Remarks |
Plooto is an ideal software for small to medium-sized businesses that are looking to streamline their financial operations. It is particularly useful for businesses that need to manage payments and collections, including accountants, bookkeepers, and financial professionals. |
For further details, visit – https://www.plooto.com
GoCardless
|
Introduction |
GoCardless is a payment processing platform that enables businesses to collect recurring payments from their customers via direct debit. |
|
Features |
o Simple and cost-effective way to collect payments on a regular basis o Low transaction fees and a user-friendly interface o GoCardless has a global reach to customers in over 30+ countries o Automatic retries feature determines the best day to try again for failed transactions recovering 70% of failed payments on average |
|
Integration |
Gocardless sync can automatically mark invoices as paid in QuickBooks when payments are processed. |
|
Pricing |
UK and eurozone – 1% + £/€ 0.20 per transaction (£/€ 4 max) International – 2% + £0.20 per transaction |
|
Remarks |
The platform is particularly well-suited to businesses with recurring payment models, such as subscription-based services and membership programs. |
For further details, visit – https://gocardless.com
Square
|
Introduction |
Square’s payment processing tools allow businesses to accept credit and debit card payments in-person, online, or on-the-go, and the platform offers a range of features to help businesses manage their sales data and finances. |
|
Features |
o Square allows businesses to create and send professional invoices to customers o Businesses can set up automatic payment reminders o Square provides real-time tracking of payments o It provides a dispute resolution process in case of payment disputes, including the ability to issue refunds o The platform provides reporting tools to help businesses track their receivables over time |
|
Integration |
QuickBooks offers a “Connect to Square” feature which allows users to import transaction data from Square into QuickBooks. Users can import sales, refunds, tax, tips, and discounts from Square to QuickBooks using this integration. |
|
Pricing |
In person – 2.6% + $0.10 per transaction Online – 2.9% + $0.30 per transaction Manually entered – 3.5% + $0.15 per transaction Invoices – 3.3% + $0.30 per transaction |
|
Remarks |
Square is an ideal software for small businesses and independent entrepreneurs who need an all-in-one platform to manage various aspects of their operations. Its features make it particularly well-suited for businesses in the retail and hospitality industries, such as coffee shops, restaurants, food trucks, boutiques, and other similar establishments. |
For more details, visit – https://squareup.com
Stripe
|
Introduction |
Stripe is an online payment processing platform that enables businesses to securely accept and manage payments from customers over the internet. |
|
Features |
o The platform helps companies beat fraud, send invoices, issue virtual and physical cards, reduce friction at checkout, get financing, manage business spend. o Stripe can send automated payment reminders to customers who have outstanding balances o Stripe makes it easy to issue refunds and handle chargebacks |
|
Integration |
Stripe offers a direct integration with QuickBooks Online to automatically sync transactions between the two platforms. |
|
Pricing |
Online Transactions – 2.9% plus 30 cents International – Standard Charges plus 1% ACH Payments – 0.8% per transaction with maximum ACH fee of $5 |
|
Remarks |
Stripe can be used by e-commerce businesses, subscription-based companies, online marketplaces, and any other business that needs to accept payments online. |
For more details, visit – https://stripe.com
PayPal
|
Introduction |
PayPal can be integrated with QuickBooks Online, allowing businesses to easily track their PayPal transactions and automatically import them into their accounting software. |
|
Features |
o Businesses can choose to sync transactions on a daily, weekly, or monthly basis. o Businesses can also use PayPal to send invoices o It can quickly accept debit/credit cards, PayPal, PayPal Credit o Seamlessly available in more than 100 currencies and in over 200 markets around the world |
|
Integration |
PayPal can be integrated with QuickBooks Online to automatically import PayPal transactions and fees into the accounting software |
|
Pricing |
Send/Receive Money – 2.99% Standard Credit and Debit Card Payments – 2.99% + fixed fee All Other Commercial Transactions – 3.49% + fixed fee |
|
Remarks |
It is particularly useful for small businesses and sole proprietors who operate globally as it allows them to accept payments from customers in different countries and currencies. |
For further details, visit – https://www.paypal.com
In conclusion, leveraging QuickBooks add-ins for vendor payment collection can revolutionize your business’s financial operations. These powerful tools offer a range of features and benefits from centralized accounts payable management to simplified payment processing and international transactions. Whether it’s automating workflows, ensuring secure payments, or offering convenient payment gateways, these QuickBooks add-ins have you covered. Choose the ones that align with your business needs and take your vendor payment collection to the next level.
Note – The pricing mentioned in this blog is based on our knowledge and research at the time of posting. We recommend visiting the official website to confirm the current pricing details before making any decisions. Stay informed and make the best choices for your business.
