When it comes to running a business, the more efficiency you can create around routine tasks such as accounting, the more time you’ll have to focus on the core products or services your business offers. As your one-stop bank for business accounts, loans, and more, Moody Bank is pleased to offer Autobooks for businesses, a convenient solution for payment processing, invoicing, and other accounting tasks. In this article, we’ll explain what autobooks is and how it works so you can decide if it’s the right solution for your small business accounting needs.
What Is Autobooks?
Autobooks is an accounting and payment processing solution that allows businesses to accept credit card payments and automate invoicing. Eliminate the uncertainty around fees and wait times with third-party payment processors by processing payments directly to your business checking account. With Autobooks, you can:
- Generate invoices and estimates electronically to send to your customers.
- Accept your customers’ preferred payment method, whether that’s a credit or debit card or an ACH bank transfer.
- Keep your business cash flow on track by having payments deposited directly into your business bank account
- Design your invoices with your company logo and other custom details.
Autobooks can also be used by not-for-profit organizations to accept monetary donations. Share a simple link or QR code to your online payment form.
How does Autobooks work?
Autobooks is integrated into your online and mobile banking experience. You can take care of your business finances and banking all in the same platform. From sending invoices via mobile device to accepting customer payments, Autobooks makes the financial side of running your business as easy and inexpensive as possible.
- Create invoices from online banking or your mobile banking app.
- Send invoices from any device, mobile or desktop.
- Customers will receive invoices by email. They can click on a link to view and pay the invoice.
- Your business can accept payments from any major card, including American Express, or by ACH bank transfer.
- Customer payments are deposited in your business checking account, usually within two business days.
What are the Benefits of Using Autobooks for Your Business?
Autobooks is a convenient solution to your business accounting and payment processing needs. If you’ve been struggling with an uneven cash flow, Autobooks can help you collect customer payments sooner to even out the income coming into your business.
- Accept all payment types: Credit cards, debit cards, and ACH transfers.
- Easy invoicing: Send and manage electronic and physical invoices.
- Custom invoice design: Invoices can be customized with logos and branding.
- Better cash flow: Helps you manage cash flow and increase the efficiency of your accounts payable and accounts receivable.
- Streamlined recordkeeping: In one place, the same place as your online banking, you can track payments and invoices and generate different financial reports.
- Collect payments faster: Easy to track outstanding payments and send follow-up invoices for delayed payments.
- Save money: Credit card processing fees are transparent and easy to understand. Fees are the same for each transaction regardless of the type of card a customer uses: 3.49% per card transaction and 1% per ACH transaction.
- Stay organized: Manage products, supplies, and inventory so you don’t run out of anything or over burden yourself with unsold items.
Autobooks vs. other options
Perhaps the biggest advantage Autobooks has over other options is its integration with online and mobile banking. You don’t have to remember multiple login credentials or visit more than one website to conduct your business banking and accounting transactions.
Autobooks also offers more convenience to your customers. Instead of asking them to look you up on a payment app, you can send them an easy-to-use link over text message or email, and include your QR code on invoices.
And because Autobooks is so easy for businesses and their customers to use, the majority of invoices get paid within a week. If you’ve been looking for ways to improve your business’s cash flow, Autobooks can help you get paid–and get the money into your account–faster.
What are the Requirements for Using Autobooks?
Signing up for Autobooks is easy–you just need a Moody Bank business checking account with online banking access. If you haven’t signed up for digital banking already, it just takes a minute and you’ll gain access to other treasury management services for your business such as Bill Pay, Positive Pay, and Remote Deposit Capture.
FAQs About Autobooks
How do I start accepting card payments?
Once you have a Moody Bank business checking account and are enrolled in online banking, you can sign up for Autobooks in a matter of minutes. Just click “Accept a payment” or “Send an invoice” from your online banking platform.
What types of payments can my customers use with Autobooks?
Your customers can click on a link from their invoice to pay online immediately with all major credit and debit cards, or by ACH bank transfer.
How quickly will I receive payments in my business bank account?
Generally, you can expect to receive funds within two business days from when the payment was submitted.
Is Autobooks safe?
Yes, Moody Bank takes the safety and security of your business’s financial information seriously. Autobooks follows or exceeds all security recommendations for the banking industry.
Sign up for Autobooks for your business today!
Streamline your accounting process and boost your cash flow with Autobooks for businesses. Open a business bank account, enroll in online banking, and then you can get started with Autobooks accounting solutions. Have questions about business bookkeeping software? Contact us today or visit your nearest Moody Bank location in Austin, Galveston, or Houston.