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How to Transition Clients from Cheque's and Wires to Electronic Payments


As an accountant-bookkeeper, you have decided to implement electronic payments for yourself and your clients. Necessary steps can aid you, such as your selection of an online payment provider—integrating your software tools and systems and overseeing your individual client's transition process. This transition from the traditional payment method to online is quick and straightforward.


START SMALL

The task of shifting clients, processes and resources to another method is not done all at once. Starting one client at a time as you both become familiar and accustomed to the new procedure at a comfortable pace.


ALERT ALL INTERNAL PARTIES OF YOUR NEW PAYMENT PROCEDURE

The change to online payments can be daunting to your team as well as your clients. Allowing your team and clients the necessary timeframe to review, process and comprehend the new procedure encourages a smooth transition.

By eliminating the disabling element of surprise as you remain transparent and willing to discuss any questions or objections before the change is put into motion.


INFORM CLIENTS, VENDORS AND SUPPLIERS OF YOUR NEW PAYMENT METHOD

Instruct your clients to inform their suppliers, vendors and customers of the new payment process. You are then assured that all involved know the requirements of sending and receiving payments.


COLLECT THE NECESSARY INFORMATION FROM CLIENTS, VENDORS, AND SUPPLIERS

Each payment provider requires client/vendor information. The client is asked to create an account with the payment platform and provide banking information. Some offer a more straightforward process requiring an email address of the person to be paid or collected. Seeking the least stressful payment provider allows for a smoother transition for all involved.


SET UP YOUR PAYMENT PLATFORM WITH PAYMENT, CLIENTS AND INTEGRATIONS

This part of the process does not involve excessive data entry. Cloud-based payment platforms integrate with your accounting software allowing direct import of payee information and invoicing.


MAKE AND COLLECT YOUR PAYMENTS

Having chosen your most comfortable payment platform, informing your team and clients of your payment and collection schedule is paramount.


At BonseBonse Real-time Bookkeeping, we are mindful to keep our business flow with our team and our clients as smooth as possible within the present global transition.


Saturday, February 20, 2021

Written by: Sally Cooper

Reference: Plooto Inc.

Jan 20/21







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