I am starting a development agency and I was wondering what the best service to handle the money would be? I looked at Paypal and Stripe but they both take out a healthy chunk of the money... Does anyone have any recommendations?
If the percentages that Paypal or Stripe take out of the invoice are enough for you to worry about you need to be charging more. Seriously. Just add another 10% to all of your invoices and forget about it.
The best way to get the client to pay is whichever way the client is more likely to pay. In the UK & EU, for example, direct bank transfer is pretty much the default mechanism. For US folk cheque, credit card & Paypal seem more common.
In business cash flow is almost always important than the amount. Talk to your clients and find out what's simplest for them. Focus on getting paid quickly, not the few percent that Paypal or whatever will take off the top.
Big fan of Harvest. Tons of features, plugins and one beautiful interface.
I have used http://freshbooks.com for years to manage all invoices and billing. They have a Paypal option that only costs $0.50 per invoice. My clients love it and I get usually get paid much quicker than any other method.
I will check it out, thanks for the suggestion!
I want to second this recommendation for FreshBooks. I used them for several years and can't say enough good things about the service and their excellent support. Very friendly and easy to work with. I don't have any affiliation with them—only impressed with their product. My clients liked the service as well. Its easy for your client to review the invoices you've sent, status, etc.
Good luck, Matt
When I used to freelance, I got along fine accepting checks, and was pretty happy using Billings for invoicing: https://www.marketcircle.com/billingspro/
I can definitely recommend you Hiveage. It is such an awesome platform to invoice clients, keep track of your time and expenses.
Our clients and ourselves love this because of the simplicity. You should check it out :)
I was a fan of the previous version Curdbee. Still use it actually. I've yet to setup an account using Hiveage but it definetly looks great.
Would love if you could also check out Elorus Invoicing & Billing , an up-and-coming platform for online invoicing and billing. Might be a bit biased but it's here to stay and rock the invoicing world ;)
https://topnotepad.com/online-invoicing-software is one of the best tool.. Simple to use with a good interface. It provides many features : Manage expenses, manage leads , accounting , PDF's files , Payment reminders and so on...
I would like to suggest one more useful invoicing tool i.e. Invoicera. It is an online solution with features like online invoice,recurring billing, auto billing, expense management, time tracking and reporting. It helps us to provide better control over business finances and increase the productivity of the business. You may also consider this tool.(www.invoicera.com)
It should be the other way around but
1st : Stereophonics Last : JLO
PayTango will deposit paper checks for you, follow up with your clients (by phone or email) and make sure every invoice is paid for about the same price as Stripe, or less if you process more.
*Disclaimer: I'm a designer at PayTango.
Most clients typically prefer sending a check.
I definitely recommend checking out https://www.waveapps.com. It's free (seriously --I don't think there's any limits) and has all the features I can imagine you'd need; standard invoicing, recurring, and estimates -- as well as other things like bills, receipts and accounting which I haven't used yet. If you decide that credit cards are the most efficient way to get paid there's an option to use that too. I personally export the invoice as a PDF, email my client, and then receive the payment as a check.
Thanks, i'm checking it out now!
I usually let them send me a check, depending on how reliable they've been or how well I know them.
For more remote clients or those I need to send electronically, I've started encouraging Intuit Payment Network - https://ipn.intuit.com/ - only take out like $.50 per transaction, no matter the amount, and it's so much faster than Paypal or Stripe for me to transfer into actual accounts.
I like using Ballpark, by Metalab :)
I would go with good old fashioned cash or check. I don't believe you can avoid losing a small percentage when you process credit cards, but I could be mistaken.
You could also pass the fees on to the client saying if they choose to pay with credit card it will be $X more. It doesn't feel as "nice" but still an option.
Great idea, I didn't think about that. Thanks for your input Brian!
1) You need to double check the legality of charging more for credit cards, and the percentages that you can use for this. It varies country (for example it's illegal in the UK to charge more than 2% for paying by CC).
2) In general I find you get a better response from clients if you phrase you're preferred options in terms of discounts rather than penalties. For example I don't offer a penalty for paying "late". I offer discounts for paying "early" (because — cash flow!).
This is a great concept, I think I will work this into our business model!