The Invoicing and Payments screen details your invoicing contact and mail-to address. You can also set up your TrulySmall Accounting business to receive payment by credit card.
By enabling Payments, the invoices you email to your clients can contain a link that allows them to pay you online using Visa, MasterCard, or American Express. Once cleared, those Payments are automatically logged in TrulySmall Accounting. Then, when the money is transferred to your bank account, you will need to record the deposit and fees incurred.
Invoicing
The Business Information section stores the "Name" and "Contact Email" address for the primary contact managing invoicing and payments for your company. The email address will also appear as the sender when invoices are emailed to clients.
The address you type in the Mailing Address section will appear as the payment mailing address on your invoices.
The Additional Details section is where your business "Website" address, and "Phone", "Mobile", "Fax", and "Toll-free" numbers can be added.
Click on the Save Invoicing button when your changes in the Invoicing section are complete.
Payments with Stripe
In the Payments section, you have an option to accept payment by credit card using Stripe. If you do not yet have a Stripe login account, you can register for one here.
Next Steps
When you are ready to connect TrulySmall and Stripe, simply click on the link to add your Stripe account.
2. Select the type of Stripe account you want to link and click on Continue.
3. Follow the steps to link your Stripe login account, or create a new Stripe login account if you don't already have one.
4. Stripe will ask for information about you and your company to confirm your identity. To prevent any problems with your Stripe account, please make sure to complete all required fields.
5. After you have provided all necessary details, Stripe will verify your account and you will be redirected to the TrulySmall interface. You will see a message stating "Your Stripe account is ready to use." which confirms that you can start accepting payments.
6. You do not need to make any changes under the Payment Settings section. Simply click on Save to finish.
By default, all deposited funds will be recorded in the Stripe Clearing account, and a Stripe Processing Fees account will be created so you can manually track any fees incurred. You have the ability to change the default accounts under Record Payments In and Record Processing Fees In.
Payment Notifications
Now that you have linked your Stripe account with Kashoo, you will automatically receive an email each time your customers pay an invoice. Kashoo will automatically import the payment and assign it to the appropriate invoice. Furthermore, we will notify you if there is an issue while attempting to process a payment.
Sending Invoices and Receiving Payments
Create an invoice in TrulySmall. When you are ready to email it, click on the dropdown icon to the right of the Save button and select Preview & Send. This will launch a Send Invoice window with a preview of the saved invoice you wish to send for your final review, along with a payment link. Click on the Send Email button when you are done.
What Your Customer Will See
1. Your customer will receive an email that contains the link to pay the invoice online.
2. When your customer clicks on the link they will go to a page that outlines the details of the invoice.
3. When your customer clicks on Pay Invoice a pop up will appear and they will be asked to input their billing details and click on Pay.
4. They will then be taken to a payment complete screen, where they will see a message confirming the payment has been processed. The page can be printed or saved as a receipt.
How to Deposit Stripe Funds and Record Processing Fees
Depositing funds from your Stripe Clearing account into your bank account is a manual process that can be completed in just a few steps. By following the steps, you can easily transfer funds and record any associated processing fees, ensuring that your TrulySmall records are accurate and up-to-date.
To get started, please follow our guide here.
Special Notes:
If you disconnect your Stripe account, all payment links that have been sent via email will be voided. If you reconnect your Stripe account, you will need to send out the invoices with new payment links on them.
If your TrulySmall subscription is not valid, all your payment links will be inactive.
About Stripe
Stripe is the world's leading digital payments provider, trusted by millions of companies of all sizes. Stripe offers competitive, pay-as-you-go pricing based only on the payments you process. There are no hidden fees, and you can rest assured knowing your critical financial data is protected by Stripe's best-in-class security standards.
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