Tips on how to speed cash flow, avoid painful payment system contracts,
and get paid - fast
MISSISSAUGA, ON, May 4 /CNW/ - Can a business really afford to wait 60
to 90 days to get paid? If it sends out invoices by post or email
that's often how long owners wait for their money.
Cash flow is the lifeblood of small business, so timely payments are
essential. A credit and debit payment service, such as Intuit Inc.'s Merchant Service for QuickBooks, can trim the three-month wait to as little as two days. Businesses get
their money working for them right away.
Merchant Service Strikes a Chord
"I ship steel guitars to musicians all over the world," said Al Brisco,
owner of Steel Guitars of Canada, based in Colborne, Ont. "Mailing an
invoice and waiting on a return cheque just takes too much time. By
using Merchant Service the cash isn't in transit, it's in my account."
Four Tips for a Better Payment Service Contract
When it comes time to adopt or switch to a new credit and debit payment
provider, small business owners need to have a clear understanding of
the benefits and conditions that come with the service.
Learn the Code: Review the Code of Conduct for the Credit and Debit Card Industry in Canada and ensure your service provider has indicated that they follow those
Get what you need: Will you benefit from accepting credit cards, debit cards or both? Will payments be made over the phone or will you
accept cards from your customers face-to-face? The differences will
determine the services and equipment you need and your monthly fees.
Be clear on the costs: Understand the service fees, costs-per-transaction and fees applied by
credit card companies. For example, if your provider is following the
Code above, once you're notified of a service provider's fee increase or the introduction of a
new fee, you are allowed to cancel you contracts without penalty.
Know the way out: Before signing on, understand the financial implications of cancelling
your service before the agreed-upon end date of your contract
Intuit Canada, makers of personal and professional financial management
solutions, offers Intuit Merchant Service for QuickBooks, a credit and
debit payment solution for small business owners who typically invoice
and receive payments by mail or phone.
With no long-term contracts or cancellation fees, Intuit Merchant
Service for QuickBooks is ideal for contractors, consultants, service
businesses, manufacturers, wholesalers, and other small and midsize
businesses that invoice customers or receive payment by mail or phone.
It is a tool that helps small business get paid immediately and enhance
customer service by offering a wider variety of payment options.
"I save time because each transaction is automatically recorded in my
QuickBooks," said Brisco.
Intuit Merchant Service is also the only integrated payment solution
that automatically updates QuickBooks accounting records in real time
as payment transactions are processed; saving time by ending the
unnecessary double data entry of taking a payment and accounting for it
Considering Payments? Save on Set-Up Fees
Until June 30, 2011 Intuit, will waive the $75 set-up fee for new
customers. Offering clear and easily understood terms of service,
further details for Intuit Merchant Service can be found at Intuit.ca
About Intuit Canada
Intuit Canada ULC is a leading provider of business, financial and tax
management solutions for small- and mid-sized businesses, consumers and
accounting professionals. Its flagship products and services, including
Quicken®, QuickBooks®, QuickBooks® Enterprise Solutions, SuccèsPME,
TurboTax, and ImpôtRapideMC, simplify personal finance, accounting software and tax preparation and filing.
Additional offerings include ProFile®, a professional tax preparation
software suite, the QuickBooks ProAdvisor Program and the Intuit
Developer Network for professional users and developers. All are
provided by Intuit Canada or through its partners.
Intuit Canada has employees across Canada and offices in Edmonton,
Alta., and Mississauga, Ont. Intuit Canada is an affiliate of Intuit
Inc., which is listed on the Nasdaq stock market under the symbol INTU.
More information can be found at www.intuit.ca.
SOURCE Intuit Canada Limited
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