Get Shift Done: Tips and Tricks
While it can be a real chore to oversee, managing cash flow — aka getting paid — is a constant need for any business. PayPal offers a robust feature set to help you get paid faster with less hassle.
There are two serious time-saving “get paid” options available from PayPal: create an invoice template and an ongoing subscription button.
Note: PayPal has service fees depending on how the money flows from customers to you — in other words, whether the money comes from a PayPal account versus a credit card.
Start by logging in to the main PayPal dashboard and then select Tools > Invoicing from the top navigation bar.
Once there, there are two ways to make it easier on yourself when bill customers on an ongoing, monthly basis.
- You can create “items” which are a plug-and-play inventory of your products or services that you can add to or remove from each invoice.
- PayPal lets you build a template, complete with items, descriptions, and a generic message:
You can also create a monthly subscription button for customers. Click Tools > All Tools, as shown below and then Recurring Payments:
The Recurring Payments page offers a number of different payment buttons; head to the Create a Subscription button and in just a few more steps you will have a basic Subscribe button. You can copy the code to embed it on a website or copy a direct link that you can send to your customers via email.
Overall, the subscribe button process will make it easy for customers to become “repeat customers.” There are no up-front costs, and instead of sending invoices you have automated the billing process.
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GSD: Tips and Tricks is brought to you by Xero, the cloud accounting software solution for your small business. With Xero, you can log in anytime, anywhere to get a real-time view of your cash flow and manage your books. Start your free 30-day trial today.