Home – New Forums Money matters Tired of Invoices – can’t I just take/receive money automatically?

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  • #987528
    mundo
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    I send an invoice to my clients for $150 every month, I have 10 clients (total $1500 per month)

    I don’t want to wait for them to pay their invoices and chase small invoices like this, I just want to take the money form their account on the Xth day every month.

    Any suggestions?

    When I finished high school, I worked in sales door to door in melbourne – when the customer wished to pay with a credit card, we called a special phone number and used the mobile phone to dial the customers card number, and expiry date, it would then tell us the transaction was successful.

    Since I only have 10 clients, I could in theory, keep a record of my client’s CC numbers, and charge them monthly using a similar service (the company i’m talking about no longer operates as far as I know)

    I can get more clients, however the process of writing an invoice, and monitoring my bank account for payments feels extremely unproductive.

    If it helps, i’m a sole trader, and not registered for GST.

    #1163206
    Anonymous
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    Hi mundo,

    Welcome to Flying Solo, and apologies that your first post was held up in our moderation queue for a while there. 😮

    I think you’ll find that many accounting software programs are capable of generating recurring invoices (I use Xero, so I know that one does).

    With regards to the direct debits, I’m sure someone around here will be able to point you in the right direction. Stay tuned, and hopefully you’ll receive some helpful advice soon.

    Cheers,
    Jayne

    #1163207
    TehCamel
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    Invoicing is an absolutely critical part of your business. It’s a legal requirement.
    It sounds like what you want is reduced administration. You don’t want to have to do the invoicing and reconciliations etc.

    On the basis of what you said, (10 clients, invoice always the same amount) I’d proceed this way:
    – create a recurring invoice for each client (Saasu can do this, i assume xero can too)
    – setup an account with eDebit or Ezydebit. (Edebit may be cheaper for you, and might give more flexibility)
    – get each customer to sign the direct debit request form
    — If they debit from a regular account, you could just absorb the fee (It’s ~50c)
    — if they want to debit from a credit card, you could make them pay the txn fee
    – your direct debit provider sends you a summary for your transactions.
    You might be able to build that into Xero so that it automatically marks invoices as paid.

    #1163208
    bb1
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    If you dont issue me an invoice I dont do business with you. Clients need invoices for taxation purposes. Also not sure what services you are offering to the clients, but they may want it for prove of delivery

    #1163209
    mundo
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    thank you! great replies, thanks again!

    #1163210
    Hatching_It
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    Xero is about the best in the business but will cost you ~$50/month. Here’s a list of the payment gateways you can use to have your customers automatically pay you – http://www.xero.com/blog/2013/05/get-paid-faster/

    Freshbooks will do similar but is based in US rather than NZ so favour US gateways. They do integrate with eWAY though.

    Wave Accounting is free and will hook in to Stripe for payments through invoices.

    All of them (actually maybe not Freshbooks, I haven’t checked) will pull bank feeds from PayPal and your Australia Bank.

    Good luck!

    #1163211
    bridiej
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    Freshbooks also integrates with PayPal and will do this for you.

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