FreshBooks and PayPal—the New Power Team of Cloud Accounting

Written by D&V Accounting Services | Dec 18, 2014

Cloud accounting software was designed for one thing: convenience. It’s an answer to an urgent need -the need to save time. Different types of cloud accounting software have been developed to address this need, and one of these is FreshBooks.

Startups choose cloud accounting services for practicality: cloud accounting is generally more affordable than business accounting software programs and less tedious and time-consuming than creating complicated reports and ledgers. When a business chooses to use cloud accounting software, tasks such as version upgrades and data backup are managed by the application vendor.FreshBooks is one of the most well-known cloud accounting services available on the market today. It is specifically designed to enable customers to spend less time on paperwork and focus on the work that they love. Backed by an impressive track record—FreshBooks customers report a doubled increase in revenue in the first 24 months—customers enjoy all of the perks of using cloud accounting software for a reasonable price. FreshBooks is certainly one of the names to watch out for when it comes to cloud accounting for startups.

One of the most important aspects of choosing thekind of cloud accounting software to use is the mode of payment. When it comes to this, FreshBooks’ PayPal integration feature is worth looking at.

The Perks of FreshBooks’ PayPal Integration Feature

PayPal is one of, if not the most, convenient modes of payment for customers across businesses. Transactions done through PayPal are instant. It’s flexible: one can accept or remit payments on an iPhone, an iPad, or Android device. It reduces paperwork by providing a downloadable transaction history, and reconciles exceptions easily by automatically returning unclaimed funds. It is a fast, safe way to send money, make an online payment, receive money or set up a merchant account—it boasts a network of 150 million active registered accounts, receiving and making payments in more than 100 currencies in 203 markets.

FreshBooks’ Paypal integration is quite an innovation. Paying a FreshBooks invoice with PayPal is simple: a business’s customer simply selects the PayPal option on the invoice. They will then be taken to the PayPal website to process the payment with their PayPal accounts. Payments are then transferred from the client’s PayPal account into the business’ PayPal account.

How can this benefit a startup business?

Since PayPal is an established name when it comes to online payment, FreshBooks’ integration feature adds credibility and trust to a business site. It gives your client a simple way to pay their invoices, anytime, anywhere. The simplicity and convenience of being able to pay through a method they know and trust is something clients will appreciate.

Another important thing that makes this integration relevant to startups is the fact that businesses that use PayPal sell more. PayPal boasts a 27% increase in total customers, a 15% increase in total customer spend, 1.8 times more transactions per customer and 2 times more spend per customer—all post-integration.

Aside from looking at the obvious qualifications, consider going for the cloud accounting service that would add to your business in a lot of different, innovative ways.

Are you interested in exploring FreshBooks? Contact us today to learn more about Freshbooks.

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