In recent posts I went over different specific methods that businesses use to process payments. My aim is to help business leaders uncover the true costs of issuing traditional checks in this post. I also discussed the various digital payment methods available and a very brief history of ACH to help give context, understanding.
If you are interested in the cheat sheet, you can skip right to the features page for TROY FlexPay and work backwards. However, in this blog I aim to contextualize what FlexPay does for businesses that use QuickBooks and how it helps create real savings. I understand if you want to get to the point fast, but I hope you give me a chance to share specifics.
The first level of understanding of what TROY Flexpay can do for your business is to understand that TROY FlexPay syncs easily with your QuickBooks data. This is as basic a feature as it is a monumental effort by our TROY developers to make this seamless for the end user. Inside TROY FlexPay you have access to your Invoice, Bill, and Vendor information from QuickBooks so you can quickly process a payment in the method that suits your needs.
If you recall, in this post, I show how expensive one paper check can be when you consider all the obvious and hidden costs. TROY FlexPay provides 2 answers to this problem of cost.
A business that uses paper checks for paying vendors, especially when they print a check from QuickBooks, most commonly uses pre-printed check stock. This is the most expensive and easiest way to print paper checks. It's easy because you don't have to worry about how to print a check -- its straight-forward. However, pre-printed check stock is expensive and can be stolen to create fraudulent checks out of your account.
TROY FlexPay lets you print a check from QuickBooks in a few clicks on blank check stock.
You gain several benefits immediately with TROY FlexPay. Using blank check stock is cheaper to purchase and safer to keep on hand. If anyone steals your check stock, you aren't at risk being the victim of check fraud. That one change provides you hard savings, reduced operational stress, and time saved when processing payments out of QuickBooks.
TROY has been supporting small and large businesses printing checks for decades. We understand that the world is changing and not every business wants to spend time and money on check printing. With the same ease TROY FlexPay makes printing a check locally, you can let TROY print, fulfill, and mail your checks. You no longer need to manage a specialized printer for checks, ordering and securing check stock, or spend expensive time to mailing checks. The best part is you don't have to commit to our service. You can go between printing checks locally or outsourcing the work to us without committing to a volume of checks. In this way, TROY FlexPay can be your reliable backup if there are operational issues with your check printer or TROY FlexPay can help your business transition away from local check printing at your preferred pace.
In my other posts about the History of ACH and Different Digital Payment Methods I discuss the different kinds of digital payments that exist. Processing a payment out of QuickBooks with TROY FlexPay digitally is simple. TROY FlexPay can help if your vendors are demanding digital payments, if your organization wants to reduce costs by ending paper checks, or if you want to explore more efficient ways to manage payments out of QuickBooks. The process is easy, almost the same number of mouse clicks as printing a traditional check.
ACH
You can use TROY FlexPay to print checks locally, you can choose to let TROY print your checks for you, or you can process a payment with ACH. TROY FlexPay can do them all with ease.
Digital Checks
TROY FlexPay can send a digital check giving your vendors more options while saving you money. You can send your vendors from QuickBooks a secure email with payment options. Your vendor can choose to process the payment via ACH as normal. However, they can also choose to print the check locally themselves, saving your business time and money. Lastly, your vendor can choose to do a mobile check deposit. Regardless of which option your vendor chooses, your process doesn't need to change.
Your business will save money and time with TROY FlexPay by extending your QuickBooks. You will have more options and the flexibility to transition to digital payment methods without risking operational stress to your business. Visit our website to learn more about what TROY FlexPay can do. You can also request a demo to see everything described in this blog in action. TROY has dedicated experts that have been helping businesses navigate the check/payment world for decades. Let us show you how to save money and time with TROY FlexPay.