A blessing for businesses and their clients
If you have already used PayPal as a buyer, you know what the deal is; but as a business owner, you can do much more with your account. You can insert an HTML shortcode on your website, directing your clients straight to a PayPal checkout page to complete their purchase and payment. You have to pay the 2.9% + $0.30 fee per transaction only once the payment is made.
However, the true feature that makes PayPal a must, especially if you don’t own an accounting tool (yet), is that it can be a complete, basically free of charge invoicing software solution: you can create and send invoices once or on a regular basis with or without PDF attachment to up to 100 customers. Plus, you are also able to track the invoices, send reminders to non-paying customers, and accept payments in 25 currencies from more than 200 countries.
Top 3 online accounting software solutions with PayPal integration
As PayPal is mostly used as a payment processor, when operating as an extension of your bank account, online accounting solutions treat PayPal accordingly. In other words, if the fast payment option is enabled, accounting software fetch data from your PayPal account, so each time a payment is made, you will see it in your accounting solution as well.
This is how it works with the top 3 accounting software solutions:
Xero
PayPal teaming up with Xero, one of the best online accounting solutions on the market, is a dream coming true for all business owners no matter where they live. In Xero, adding the PayPal option to your invoices only takes a few clicks. This way your client has the option to pay with Visa, MasterCard or American Express credit/debit card and a PayPal account through a secured page. Thanks to the option that enables you to use your PayPal account as a sort of bank account, every time a payment is made, your invoices are updated, and you get instant feedback on your dashboard.
FreshBooks
PayPal integration with FreshBooks is extremely simple: you only have to link your PayPal account with your FreshBooks account once by simply going to settings and choosing the “accept credit cards” tab. After the feed is established between the two accounts, you can already start accepting online payments via PayPal, whether you are in your office or on the go. Like most accounting solutions, FreshBooks also directs customers to a nicely designed clients’ page with an online invoice and fast payment option, and treats your PayPal account as a regular bank account, meaning you can categorize your transactions any way you want.
Sage One
While it allows your customers to pay in U.S. dollars only, Sage is also capable of seamless PayPal integration. Each time you allow clients to pay online, a PayPal button will be added to customers’ invoices, and the payment is transferred to your PayPal and Sage account just like in the case of normal transactions. You don’t have to worry about updates either: once an invoice is paid, Sage automatically updates its status to “paid”.
Zoltán G.
Sander D.
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