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Electronic payment software

  • The Future of Electronic Payment Software

    We’ve been working hard recently to develop an electronic payment software that meets the needs of the small to medium size business market.  The difficulty is finding a solution that meets everyone’s needs.  25 years ago we got into the check printing business because we knew we could have an impact on a lot of companies.  Everyone paid bills with checks then.  In fact, up until 2004, over 95% of business payables were processed through check payments.  95%!

    This is an incredible statistic, especially as you look at the current payments industry landscape.  As more and more businesses look for an electronic payment solution that satisfies their needs, what we are finding is that no business is the same and thus their needs and wants differ.  The days of everyone processing payments the same way, by check, are fleeting.  While still over half of business payables are processed by check (according to the Association for Financial Professionals 2013 survey), companies are actively searching for an electronic method.  As of yet no one way has emerged as the B2B electronic payment solution, and the chances are no one way will.  The rate that technology develops and the increasing number of innovators in the market makes it difficult for one payment method to grab hold.  It is a safe bet to assume that moving forward no one method of payment will be as ubiquitous as checks once were.

    So what does this all mean?  It means that as a company you must be nimble.  Whether you are a vendor receiving payments from your clients, or a client paying numerous vendors, companies will require payment in different ways.  As such, your company should be positioned to accept and pay through these different methodsElectronic payment software, like PrintBoss, that enable a group of payables to be processed in one run but through various payment methods is the future.  To process checks, virtual credit cards, and ACH payments at the same time, with one click of a button allows your business to be nimble, develop with technological advancements, and work with all vendors and clients.

    Try PrintBoss free for 30-days and experience the future of payment processing.

  • QuickBooks Payment Processing Made Easy

    Check printing is a process that we have all accepted as a part of business and, for the most part, it is effective. Today we are inundated with alternative payment methods but the reassuring fact is that checks stand apart as a payment method that can satisfy virtually any payment obligation.

    So why is there so much pressure to replace checks? First of all, it is clear that technology is providing new payment methods that sometimes make payments faster or easier. Often these payment methods are specifically designed to make it faster or easier on your vendor, which is not all bad but, primarily, we need to make sure that we are making our own businesses better whenever we can. But the problem is that there is no payment option that is as universal as checks and if we implement some partial solution we may improve a few payments or, depending on the solution, just one payment, and all of the other payments would be more difficult because you have to keep track of the method of payment for each payable.

    Check printing is a process that we have all accepted as a part of business and, for the most part, it is effective. Today we are inundated with alternative payment methods but the reassuring fact is that checks stand apart as a payment method that can satisfy virtually any payment obligation.

    So why is there so much pressure to replace checks? First of all, it is clear that technology is providing new payment methods that sometimes make payments faster or easier. Often these payment methods are specifically designed to make it faster or easier on your vendor, which is not all bad but, primarily, we need to make sure that we are making our own businesses better whenever we can. But the problem is that there is no payment option that is as universal as checks and if we implement some partial solution we may improve a few payments or, depending on the solution, just one payment, and all of the other payments would be more difficult because you have to keep track of the method of payment for each payable.

    The answer to this confusion would be to either pay everything by the same method, or have some software that can keep track of how each payable is paid. Happily, there is software called PrintBoss that will not only keep track of payment methods but it will prepare each payable in the format required for that payment method. In other words, if you pay some of your payables by check, some by ACH, and some by electronic payment, PrintBoss will produce a check for each vendor expecting a check, it will produce an ACH payment file that you will submit to your bank, and if there are some payables that you pay electronically, PrintBoss can be configured to create the file.

    As you consider alternatives to printing checks it is important to consider how it will affect the way you pay all of your vendors. Because it is highly unlikely that you will change the method of payment for all of your vendors at the same time, it is important to establish a seamless method of paying vendors using more than one payment method.

    So, don’t change just for the sake of change.  Look at the options available for payment processing, and most of all, don’t add complexity! Make sure that you can always pay all of your vendors by a method that they can accept.

    Try PrintBoss’ 30 day free trial to experience the benefits that payment flexibility offers.

  • Optimize QuickBooks Direct Deposit

    As you may have read in our blog, last week Wellspring Software attended the Sleeter Group Solutions13 Conference in Las Vegas as a vendor.  We had the opportunity to talk with a bunch of CPAs and QuickBooks ProAdvisors about their businesses and about how PrintBoss could help them and their clients.  QuickBooks direct deposit was on a lot of peoples’ minds.  While the majority of people print checks (which we love to hear), we also heard a lot of attendees say that they use the QuickBooks direct deposit feature for payroll.  This was music to our ears, because PrintBoss makes processing QuickBooks direct deposit easier.

    PrintBoss can print checks and direct deposit statements in the same check run.  We understand that not all of your employees are the same.  Some prefer checks they can deposit by hand for security reasons or because they haven’t gotten payroll the paperwork to move to direct deposit,  while others don’t want the hassle of paper checks and so have signed up for direct deposit.  So instead of making you process paper checks in one run and direct deposit statements in another run, PrintBoss allows you to do both simultaneously.  It does this by knowing which employees want checks and which want QuickBooks direct deposit statements.  All you have to do is click print.

    What’s more, PrintBoss can create and send electronic direct deposit statements.  PrintBoss will create PDF copies of the statements and email them to your employees.  It will even password protect the PDF statements so only your employee can view his or her QuickBooks direct deposit statement.

    PrintBoss is designed to save you time and money throughout your accounts payable process.  PrintBoss optimizes QuickBooks direct deposit by making it run seamlessly beside your other accounts payable processes like check printing.  This is just one of the many ways PrintBoss helps businesses.

    Try our 30-day FREE TRIAL to experience how PrintBoss can optimize your QuickBooks direct deposit process.

  • QuickBooks Electronic Payment Software

    We are all searching for the best way to manage and pay our payables.  We want it to be secure, intuitive, easy, low cost, and fast.  The issue is that what is secure, intuitive, easy, low cost, and fast to you is not necessarily to your vendors.  Even more so, what is optimal for one vendor might not be for another vendor.  The point is, how can we find the “best” solution when it most likely varies by company?

    The one thing that many can agree on is that payables are moving toward electronic solutions, toward electronic payment software.  But even electronic payment software differs.  Some solutions require sharing banking information, while others require payees to accept certain terms of payment conditions including fees associated with the solution.  Other electronic payment software can only handle smaller payables, while still others are only beneficial with payables over $500,000.  The point is, how do we define the “best” electronic payment software?

    At Wellspring Software, we believe that the answer to this question lies in flexibility.  The best electronic payment software is one that enables you to pay however you want to pay.  Pay certain vendors through ACH, while paying others through products like the globalVCard Paysystems, while handling employee payables through direct deposit.  It is for this reason that we have designed PrintBoss to enable all types of payments.  What’s even better is that with PrintBoss you can automate these different payment types.  By stipulating in each vendor or employee account settings the type of payment they require/desire, you can process your payables in one run and PrintBoss will produce the correct payment for each payable.

    For example, if you have a supplier that wants to be paid with an ACH payment, another large vendor that requests payment through the globalVCard Paysystems, and then your office building landlord requires payment with a printed check, PrintBoss can handle all of these.  Once all of the above parties’ requirements have been indicated in the PrintBoss settings, then in QuickBooks (or any other accounting system integrated with PrintBoss) simply process a check run.  With no additional clicks, the information will be passed from QuickBooks to PrintBoss and given the settings for each payee, PrintBoss will produce the requisite payment file or check.  So for the supplier requesting ACH payment, an ACH file will be generated.  The same goes for the large vendor signed up to receive globalVCard payments.  For your landlord, a physical check will be printed from your designated printer.  The beauty, again, is that all of this happens automatically, with no extra clicks.

    Payable processing is constantly changing, why not have an electronic payment software that allows you to change with it.  PrintBoss allows you to process both checks and electronic payments in the same payable run, with no extra clicks.  Try the PrintBoss 30 day free trial to see how an electronic payment software can work for you.

  • PrintBoss Makes QuickBooks Direct Deposit Easy

    It has become common practice today to process payroll using the QuickBooks direct deposit feature.  Using this method, an ACH file is created and the funds are transferred to the payee.  Prior to transfer, authorization must first be given by the receiver or payee to accept payment in this fashion.  The ACH file created then in QuickBooks contains certain information requisite to process the transaction.  This information includes the account and routing numbers, the payee name, amount, etc.  The benefit of paying by QuickBooks direct deposit is no check is printed and required to be taken to the bank for cashing.

    Although no hard check is given to the payee, a paystub still needs to be given to the employee for his records.  QuickBooks direct deposit cannot send the paystub electronically.  A paystub must be either printed and mailed, or manually emailed to each individual payee.  This is where PrintBoss can help.  PrintBoss can send paystubs for electronic payments via email by automatically creating PDF files of the paystubs, attaching them to emails and sending them either through SMTP servers or directly from your outlook.  By grabbing the payee email address from an authorized field in QuickBooks, PrintBoss knows how and where to create and send the email.

    Given the security requirements of emailing a paystub, PrintBoss will even password protect each PDF in case the incorrect email address is entered in QuickBooks.  By using the last four digits of the payee’s social security number, PrintBoss will create a password only the payee will know.

    With no extra keystrokes, PrintBoss will complete your QuickBooks direct deposit transaction.  If any of your vendors or employees request not to be paid via QuickBooks direct deposit, PrintBoss will automatically print a live check in the check run.  Again, no extra keystrokes are required.  Just another way how PrintBoss saves you time, money and increases security.

    Try our 30-day free trial to experience how PrintBoss can improve your payroll process today.

  • QuickBooks Direct Deposit: How to Make it Secure and Easy

    With PrintBoss, QuickBooks direct deposits are easy and secure.  It is easy because there are no additional installation steps required to create direct deposits from QuickBooks and it is secure because of the features PrintBoss provides.

    Set-Up is Easy

    First, setup your company bank account in PrintBoss and create a list of your employees' E-mail addresses.  The list of E-mail addresses in PrintBoss or Payee List is used to automatically send a password protected direct deposit advice form to each employee on the list.

    Next, create the payroll checks as you normally would do.  Click on ‘Print’ and PrintBoss takes over formatting and processing your direct deposits from information provided by QuickBooks.  With one click you can create checks with secure encrypted signatures for those employees that prefer checks; create a Positive Pay file for security; create an ACH file formatted to the National Automated Clearing House Association (NACHA) specifications; and create a PDF file copy for archives.

    Positive Pay Files

    Today it is easy for anyone to scan a check for automatic deposit.  Intentionally or not, this can lead to depositing a check twice: once by scanning and again at the bank.  How can a business protect itself?

    An increasing number of banking institutions are offering a Positive Pay service for check fraud protection.  This is a formatted text or csv file listing all valid checks written on a bank account.  The file is transmitted to the bank and only checks identified in this file are cashed by the bank.  If the bank receives checks that are slightly different, or a duplicate, the bank will not accept the checks.

    PrintBoss generates a Positive Pay file for each check in the batch.  The structure of the Positive Pay file is designed to match individual bank requirements.

    NACHA ACH Transfer Files

    ACH transfer file creation is automatic with PrintBoss.  It begins the process of depositing your employees' pay directly into their accounts even if you're away from the office on payday or if they work remotely.

    Email an advice statement

    PrintBoss will also automatically send an E-mail to each employee on the Payee List.  The E-mail will have a message from you and a PDF copy of their paystub.  This E-mail can also include additional attachments.  For example, say you have a new HR benefit you want to announce.  A PDF explaining the benefit can be attached along with the QuickBooks direct deposit advice.

    PDF File Copies

    As part of the process, PrintBoss can also create a PDF file copy to archive by employee, date, or location--- whatever makes sense for your organization.  Some clients are saving these PDF copies to CRM systems to interface with HR systems.

    With PrintBoss, QuickBooks direct deposits are easy and secure.

  • How To Email QuickBooks Direct Deposit Statements

    We are often asked, “What are the differences between PrintBoss Select and PrintBoss Enterprise?”  There are several, but a really big one is e-mailing, in particular emailing QuickBooks direct deposit statements.  With the Enterprise Edition, you can e-mail documents such as direct deposit or EFT statements without any additional keystrokes.   With an upgrade of software, and a little setup you can save time and money by emailing important, but routine documents using PrintBoss.

    There are only three steps to setup:

    1. Create a PrintBoss Payee List.
    2. Modify the PrintBoss form.
    3. Enable the PrintBoss E-mail function.

    The PrintBoss Payee List can be especially useful for e-mailing QuickBooks direct deposit statements as the QuickBooks software does not print a payee or vendor e-mail address on their statements.

    There is, however, a place in QuickBooks to associate an e-mail address with a vendor or employee. By exporting the field contents to a .csv file and then importing it into the PrintBoss Payee List, you have created the PrintBoss Payee List. Easy, right?

    What about maintaining the list as changes occur? PrintBoss can automatically make additions to the list when it encounters a new payee name. Or PrintBoss can present you with the option to add or ignore any new payee names during processing.

    In order for PrintBoss to process the Payee List the PrintBoss check form requires a few edits to add processing instructions and variable assignments.  We provide instructions, or Tech Support can answer questions about this or any of the steps involved.

    The last step is to enable the PrintBoss e-mail function.  PrintBoss sends QuickBooks direct deposit or EFT statements as PDF attachments.  PrintBoss converts an image of the document to an Adobe PDF file and attaches that PDF to the e-mail.  The Adobe Reader for PDF files is free to download from www.Adobe.com, but it is often installed with the operating system on most computers.

    There are several variables that can be used to enhance the e-mailed statements only available with the Enterprise Edition.  These include the ability to password protect the opening of the PDF, disallow printing of the PDF, and restrict editing of the PDF.  Also you can automatically attach additional PDFs to the e-mail.  For example, you may want to add a brochure which explains a new employee benefit.  This can be done with PrintBoss.

    If you are thinking of e-mailing QuickBooks direct deposit or EFT statements, think PrintBoss Enterprise.

  • What To Look for in Electronic Payment Software

    EFT, or Electronic Funds Transfer, is becoming popular with today’s businesses, regardless of their size.  Both vendors and employees appreciate the immediate receipt of funds into their bank accounts.  This method of payment is safe and worry free for the recipient – no lost checks, no waiting on the mail, no delays, no hassles.  As a result, many vendors and employees are putting pressure on businesses to offer electronic payments.  The question for business owners is, “What electronic payment software should I use?”

    Of course, ease of use is important when selecting an electronic payment software.  If the software is not simple to use processing time will increase, productivity in accounting will drop, and costs will increase.   The software should be streamlined so once it is setup the only task required of accounting is to upload the electronic payment file to the bank.   As an added benefit, choose electronic payment software that will email the Direct Deposit Statement to the recipient.  This will save money on printing, envelopes, and postage, not to mention the time to stuff envelopes.

    Another consideration in choosing an electronic payment software is expense.  Whether the electronic payment software is a separate purchase or an add-on to your current accounting software, cost is always important.  For business owners, software should pay for itself through streamlining operations and reducing overhead.

    With PrintBoss, you have the luxury of using electronic payment software with no additional software or setup fees.  Both the Select and Enterprise editions of PrintBoss include the NACHA file used in the US for creating electronic payment files.  This is part of the PrintBoss Positive Pay feature.  The electronic payment files are created with every EFT payment batch and saved to the location you choose.  The live checks and direct deposit statements can even be in the same print batch and PrintBoss will know what to do.  In addition, the Enterprise edition of PrintBoss has the ability to automatically email direct deposit statements notifying vendors or employees when the deposit will be made.

    Ease of use, streamlined operations, savings in postage and supplies make PrintBoss the ideal electronic payment software.

  • An Electronic Payment Software for Every Business

    More and more businesses nowadays are accepting and processing electronic payments.  Whether paying vendors or employees, companies are finding it easier to manage these payment types.  But the issue still stands, how do you process these payments?  Are there electronic payment software’s out there that can enable you to process your payables electronically?

    The answer is yes: PrintBoss.  Among its many features, PrintBoss is an electronic payment software.  It integrates with a plethora of accounting softwares, including QuickBooks.  So how does it do it?

    PrintBoss processes electronic payments two different ways.  The first is through ACH file creation.  For any client, PrintBoss can create ACH payment files.  This feature is both NACHA and Canadian Bank approved, so PrintBoss can generate ACH files for both US and Canadian payments.  The great part about PrintBoss is that it can process both live check and ACH payments, in the same run.  Just process your payables normally and PrintBoss will handle the rest.  For those companies signed up to receive check payment, PrintBoss will print a live check.  For those who have been approved for ACH payment, PrintBoss will automatically create an ACH file and no check will print.  Just click print and PrintBoss will handle the rest.  It’s an electronic payment software that knows what you want.

    The second method of electronic payment that PrintBoss offers is through our partnership with the globalVCard paysystems.  This innovative electronic payment solution allows a company to upload a single payment file from its accounts payable system and disburse multiple vendor payments with a click of a button.  The beauty of it is that like the ACH file creation feature, PrintBoss can process globalVCard, live check, and ACH payments all in the same run.  PrintBoss knows which clients get which types of payment and acts accordingly.  This saves you and your business time and money by eliminating the excess paperwork and hassle of processing multiple payment types.  Just click print and your payables are processed.  Learn more about the globalVCard paysystems here.

    Try our 30-day free trial to see how the PrintBoss electronic payment software can help you process your payables faster and easier.

  • The PrintBoss and globalVCard PaySystem’s Electronic Payment Software

    Payment processing. Utter these words to any accounts payable personnel and they will probably wince, cringe, scream, faint and/or possibly cry. In fact I have done three of the five in my time as a business owner (although that was before we developed the PrintBoss electronic payment software), but I’ll let you guess which ones. The harsh reality is that payment processing is an important process. It’s often the first process we endure when starting a business, as raw materials and office supplies must be purchased to make money and it continues through the life of a company as purchasing begets growth. The problem is that there is a glut of paperwork, labor and time involved.

    Wouldn’t it be great if we could eliminate all these hassles yet still process payments? How much would you pay for that? No, scratch that. Wouldn’t it be great if we could eliminate all these hassles, still process payments AND get paid for doing it?

    PB and GVP

    Enter an electronic payment software so easy to use, it adds no extra keystrokes to what you are already doing. Since here at Wellspring Software we’re all about people helping people, or more appropriately software helping people, PrintBoss has teamed with the globalVCard Paysystem to provide an electronic payment solution for your business. The globalVCard Paysystem allows you to pay your vendors with no paperwork and receive a rebate on your payables. When you add PrintBoss, which will automatically create a payment file for the globalVCard Paysystem, the process becomes seamless and transparent to your accounts payable personnel. In other words, with the PrintBoss electronic payment software, by doing exactly what you are doing right now, zero extra key strokes, you can eliminate the paper check printing process and earn money. It’s like modern alchemy, only electronic payment software!

    To make it even easier, PrintBoss allows you to choose individual vendors or all of your vendors to pay with the globalVCard Paysystem. When you want to enroll a vendor you simply add the vendor to a list and PrintBoss will automatically create a payment file instead of a check. Mark any vendor on the list as inactive and the next check run will generate a live check again.

    With PrintBoss and the globalVCard Paysystem, payment processing has become revenue generating. If only the ancients could have known alchemy isn’t magic, it’s PrintBoss.

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