Running a business doesn’t end at a successful transaction. There is a lot of cash flowing into and out of your business—from sales to employees’ pay to office rent. And keeping track of that cash flow is often a full-time job in and of itself.
And that only makes it more important for your electronic payment processing solution to cozy up to your accounting software. Here’s why.
Take back your time
A payment processing solution that is integrated with your accounting software will save your organization time. That’s because all the sales records and customer data collected by your payment solution can be automatically ported and entered into your accounting software.
That means neither you nor one of your employees need to spend hours on end, manually entering this information. And that frees up your team for more meaningful tasks—maybe enhancing your social media strategy, getting more involved in your community, or planning your next product or service offering.
Nix the risk of human error
When you’re not relying on a person to input your complex and delicate payment data, you remove the risk of human error. It may seem insignificant, or a minor irritant at best, but inputting an incorrect amount or figure and applying it to the wrong account can wreak havoc on your business for months.
Should this error go unnoticed, it could lead to your team spending hours on end searching for the tiny mistake to correct. Or worse, a mistake that erroneously charges your customer could result in a lost customer and damage to your business reputation.
See the big picture
With data from your payment processing solution feeding into your accounting software, you’ll be able to get a more accurate look at your organization’s cash flow—no matter where it’s coming from or where it’s going.
With this bird’s eye view of your business operations, you can make better data-led decisions when it comes to investing in your business. Integrating your payment processing solution and your accounting software also means you’ll always have access to up-to-the-minute information, no matter where you are.
Your payment processor can also help you keep on top of all your transaction data with specific reports. See how you can use a tool like Merchant Direct to access personalized reports, from financial to tax reports and more.