All you need to know about: GoCardless
22nd May 2017
At Plus Accounting we are keen to highlight Xero add-ons that will not only improve the running of your business but will run efficiently in the cloud.
There are numerous ways to get paid for an invoice, but not all payment methods are convenient or efficient. With the increase of electronic payments, such as Android and Apple Pay, people’s views of paying by cash and cheque have changed.
GoCardless provides a simple direct debit solution.
Direct Debit payments are flexible and can vary in frequency and amount. Unlike standing orders, you - not your customer - control the payments. You can do this without any further authorisation from the customer.
Are you are a Xero user invoicing monthly? Using GoCardless can improve how quickly you are paid by customers by collecting your fees by direct debit. GoCardless may be the Xero add-on for you.
Top features include:-
- Increasing cash flow by getting paid on time. GoCardless collects payments automatically for your Xero invoices as soon as they are due
- Reduces administration required, as you can stop chasing customers for payment
- Low fees, free integration to Xero, 1% fee capped at £2 per transaction
- Real time notifications of failed or cancelled payments
- Option for automatic mandate requests for new customers
- Option for automatic payment collections
- Can use the 'pay' button on the Xero online invoice for a customer to instantly sign up for a direct debit mandate.
The direct debit collection doesn't stop there, GoCardless' direct Xero integration means it also talks back to Xero. It creates the accounts and postings in Xero which enables the bank reconciliation to be completed in a couple of clicks!
The benefits are not just for you, using GoCardless saves time for your customers too. With payments set up using Direct Debit everything happens automatically and efficiently and once the mandate is in place there is nothing more for your customer to do.
If you would like to know more, take a look at the GoCardless PDF Guide or https://gocardless.com/features/ or feel free to contact Emma Hardwick and she can talk you through how GoCardless will benefit you and your business.
Any views or opinions represented in this blog are personal, belong solely to the blog owner and do not represent those of Plus Accounting. All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site.