Financial management is one of the most important tasks for running a business. When it comes to accounting statistics, almost 21% of small and medium business owners do not know enough about bookkeeping. This is where bookkeeping firms come into action! These firms help businesses ensure their transactions are accurately recorded, accounts are balanced, and compliance standards are met. However, if you run a bookkeeping firm, one of the key responsibilities and challenges is making payments on behalf of your clients. In this blog, let us see how the PrintBoss alternative, OnlineCheckWriter.com – Powered by Zil Money, helps you with this task.
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Challenges of Making Payments on Behalf of Your Clients
- As a bookkeeping firm, you will have different clients who need unique preferences when it comes to payment methods and schedules. If you are using traditional methods, this will be very complicated.
- When many clients are there, managing payment deadlines will be a difficult task. Missing these deadlines for bills, invoices, or payroll can harm your client’s relationship with their vendors and employees. This will finally affect your business operations and create disputes between you and your clients.
- As many vendors prefer checks, your clients may need to issue them. However, preparing checks and mailing them on behalf of your clients can be a time-consuming process and a hassle in your busy schedule. Also, keeping checks can be a risk as they contain sensitive information, and you will need a separate inventory to keep them.
- You must also need to take precautions to prevent fraud like verifying payees, securing checks, or protecting against unauthorized payments.
So, how do you eliminate these payment challenges for your bookkeeping firm? Let us see.
Handle Payments with Ease Using the Cloud-Based Platform
Bookkeeping firms can handle payments easily using OnlineCheckWriter.com – Powered by Zil Money. The platform offers multiple payment options to manage client payments with ease. You may use checks, eChecks, ACH, or wire transfers on the platform to make payments. As the platform is integrated with over 22000 financial institutions, you can connect and manage multiple accounts in a single place. This benefits your bookkeeping firm greatly as you handle multiple clients.
Pay via Checks
Sending check payments on behalf of your clients is easy on the cloud-based platform. You may eliminate the need to order preprinted checks from third parties and keep them in separate inventory using the platform. This is because the platform allows you to create, print, or send checks with a few clicks.
To create checks, you may select the bank account and enter the essential details. You can also customize the checks by adding business logos, changing font styles, setting backgrounds, and other elements. There are predesigned check templates for business, personal, and payroll purposes. You can utilize the ones that better suit your needs. Also, you may import checks from your accounting software by easily integrating the platform.
After creating or importing checks, you can either print them or send them via mail or email. You can print checks instantly on demand on the platform. All you need is blank stock papers and a printer, and you can save 80% of the check printing costs. You may also directly mail the check on behalf of your clients on the platform via USPS or FedEx. All you need to do is create or import checks and click the send button. The platform’s dedicated mailing team will handle printing, stuffing envelopes, labeling, and mailing them, making check payments hassle-free.
Pay via eChecks
Other than mailing checks, you can email checks using the cloud-based platform. Electronic checks or eChecks are digital versions of regular paper checks, and you can use them for payments that a check fulfills. Using the platform, you can send eChecks via email or SMS in a one-time printable format. This can help your recipient print and use the eChecks like a regular check.
Pay via ACH
You can easily send ACH transfers with OnlineCheckWriter.com – Powered by Zil Money at your convenience. Whether it be one-time or recurring payments, the platform’s ACH feature can be a great savior. Especially by setting recurring ACH payments on the platform, you do not have to worry about missing the payment deadlines. The cloud-based platform is an official NACHA member, therefore making your ACH payments more secure and easy. For urgent transactions, you may also utilize the same-day ACH feature on the platform.
Pay via Wire Transfer
OnlineCheckWriter.com – Powered by Zil Money, facilitates quick and easy wire transfers. When the payments are large, the best payment option to consider is a wire transfer. This is because they usually take only a few hours or business days to clear, depending on the recipient’s location. With the platform, you can make both international and domestic wire transfers.
Make Payments Securely on the Cloud-Based Platform
As a bookkeeping firm, security is a high concern when making payments on behalf of your clients. With OnlineCheckWriter.com – Powered by Zil Money, you do not have to worry when making payments. The platform is secured with encryption and fraud detection. As the platform connects with financial institutions, it facilitates bank reconciliation solutions that help you monitor each transaction easily. Also, the platform provides an automated positive pay feature to avoid check fraud or scams.
Conclusion
Bookkeeping firms can easily make payments on behalf of their clients using the PrintBoss alternative, OnlineCheckWriter.com – Powered by Zil Money. You can make payments via checks, eChecks, ACH, and wire transfers on the platform. Easily manage multiple accounts on the platform and make payments a hassle-free task.
