Frequently Asked QuestionsWhat does Business E-Invoice do?Business E-Invoice collects data from your QuickBooks software to send electronic invoices to your customers. Customers make electronic payments through their bank account back to your bank account, which automatically reconciles the payment back to your QuickBooks. What are the benefits to using this service?
- Save time & money - no postage, paper, data entry
- Speed up cash flow
- Improve collections. Auto email reminders
- Sync with QuickBooks
- Cost-effective
- Easy to set-up, use and customize
How much does this cost me as a business owner?Companies who use Business E-Invoice will typically pay $0.45 to $0.60 per invoice posted. Contact your bank for the exact cost. Compare that with industry averages that show the expense of creating and processing a traditional paper invoice ranges from $3-$9 apiece! Consider the savings in time, effort, postage, handling checks, posting payments and cash and more. Estimates for a business with 100 invoices monthly indicate savings of somewhere between $3,000 and $9,500 in annually. Why do I need QuickBooks software? What about other software?The program currently supports QuickBooks, the #1 US business accounting software. Other accounting software versions are in development and will be supported in the future. A downloadable version of QuickBooks is available here. This version supports up to 20 customers, and is a good tool to begin using QuickBooks if you don't currently have it How does a payment get entered back into QuickBooks?You never have to manually enter payment information for electronic payments customers make.
When a customer makes an electronic payment they choose how much payment to apply to each of the invoices they have
balances due on. Business E-Invoice then automatically adds these payments to QuickBooks on the next
synchronization. The payment will show in QuickBooks as credits on the invoices the customer chose to apply
the payment to. How long does it take to reconcile back to QuickBooks once a customer makes an online payment?Once the payment settles in your account, it is reconciled back to QuickBooks during the next QuickBooks synchronization with Business E-Invoice. Can I track and print invoices? Yes, within Business E-Invoice you can see your complete history with a customer regardless if the customer paid online or mailed in a payment. If they pay online, the information is synced to QuickBooks. Or, if you enter a manual payment into QuickBooks then that is synced to Business E-Invoice. In all cases you can always print invoices from either QuickBooks or Business E-Invoice – they have the same information. Can my customer print the invoice and mail their payment in?Yes. Once you record the payment in QuickBooks it will reconcile with Business E-Invoice as paid. What if I don't have email addresses for my customers in QuickBooks?The customer will be asked to enter their email address as part of their sign-up process. You will send the account invite letter by mail or email to your customers. When the customer goes online to sign up they enter their email at that time. This email is saved for use in Business E-Invoice. Why use ACH instead of credit cards payments?Business E-Invoice service offers a lower cost solution because your customers pay from their checking or savings accounts using ACH technology. This eliminates the use of credit cards and the associated high fees. And unlike credit cards, checking accounts do not have an expiration date, and people rarely switch banks. ACH is easier, faster, and costs less than credit card payments. What does "ACH" stand for?Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of both credit and debit transactions, which are originated in batches. Rules and regulations governing the ACH network are established by NACHA-The Electronic Payments Association and the Federal Reserve.
Do you have a question not answered here?
Please send us an email at customerservice@skyhill.com so that we can answer it for you.
|
