If you are on the hunt for ways to save time, effort, and money in your life and business, online payments can be a great solution. Not only do you get to make payments directly from your bank account or credit card, but it also makes it easy to send and receive money from friends, family members, and coworkers without having to leave the house. Here is a list of ways to use online payments to make your life easier…
1) Go paperless
You’ve likely heard a great deal about going paperless, but how can you really avoid paper in an office setting? The first step is to download and install an electronic document scanner on your computer. Most e-scanners come with several handy features such as optical character recognition (OCR) and data conversion software that allows you to scan items such as handwritten notes, sign documents and send digital copies via email or instant messenger.
2) Focus on security
Online payments are very convenient, but they also present security risks. If you’re using online payment systems like PayPal, Venmo, Apple Pay or any others, be sure to always keep your information secure. This means protecting your login information with two-factor authentication and keeping track of where your sensitive data is stored. That way if it gets hacked you can minimize damages. The best way to do that? Use a pay stub generator that keeps all your sensitive data locked away on a separate server so even if someone breaks into your account, they won’t have access to anything important. Plus, there are lots of other ways online payments can make life easier: No more printing checks out from home and no more writing checks by hand at restaurants!
3) Invoice faster
Another great feature of online payments is that you can send invoices quickly and easily, often for free. And who doesn’t want to invoice faster? The sooner you get paid, the more cash in your bank account and less time spent chasing down payers. Online payments will help increase your cash flow as well, so it’s a win-win! So what are you waiting for? Go try out these online payment options today! You won’t regret it.
4) Save with rewards
Use cash-back sites and points rewards programs whenever possible. Sites like Ebates, Checkout 51, and BeFrugal offer cash back on online purchases, so you can save money every time you go shopping online. Sites like Swagbucks offer free gift cards for every little task you do online or offline—like watching videos or answering surveys. And apps like PayPal My Cash Cards give you a bonus for swiping your debit card or linking your bank account in select stores.
You could even try imputed income opportunities where you get paid to pay bills, shop online, book travel or take other everyday actions. With imputed income opportunities it’s like getting paid twice! These types of opportunities are easy to find with an internet search and they can help increase your bottom line significantly!
5) Track your time and expenses
When it comes to small business accounting, keeping track of what you’re doing—and how much it’s costing you—is essential. What good is a budget if you don’t know what your actual costs are? Track your time and expenses with a tool like Harvest, which automatically tracks every billable hour on task, then summarizes that information at both project and client levels.
6) Stay organized
By using a payment processing service that provides paperless billing, you’ll be able to cut down on clutter and extra paperwork. Using an online payment solution will also allow you to keep all of your customer information in one place, which can help you avoid future trouble (and save time!) when it comes time for tax season. Plus, if something happens with your business and everything has been done online, you won’t have any hard copies of sensitive information that could get lost or stolen. You might even want to consider implementing pay stub generator software into your process so that employees are paid automatically—no need for checks! Just imagine how much easier payroll is going to be now.
7) Save $$$ on shipping costs
You’re an online business, so save a little cash by eliminating shipping costs. Encourage your customers to pay for their orders by credit card and offer them special discounts or freebies if they do. That way, you don’t have to worry about printing labels or paying for packaging materials like bubble wrap, envelopes, and boxes.
8) Sell online easily
Selling online is one of several channels that e-commerce companies use to reach consumers. It’s also a way for individuals and small businesses who sell a variety of different goods or services on their websites (instead of at a physical store) to reach more customers. Selling online gives you an opportunity not only to reach new customers but also increase your sales overall by reaching many more buyers.
9) Buy products from multiple vendors at once
Bigger companies often accept online payments and will often offer a discount if you can purchase multiple products from them at once. If you’re planning on buying more than one product from a single vendor, consider taking advantage of any bundled savings they may be offering. You might also be able to save money if you have shipping and handling discounts set up with certain vendors; check with your current suppliers before placing your order.
10) Save with bulk orders
Rather than buying one or two items at a time, it’s often more cost-effective to buy everything you need in bulk. This is especially useful if you frequently shop online and you have Amazon Prime or a free one-day shipping plan with your credit card. Many online retailers will also give you bonus deals if you spend over a certain amount on your order, so be sure to check those out.
You can even try negotiating prices through chat services like Facebook Messenger or Google Chat. While most people are wary of giving their financial information to strangers, they might be willing to make an exception for you if they know that they can trust you based on previous transactions. It never hurts to ask! If all else fails, consider signing up for membership clubs like Costco where there are no fees for paying by cash or debit card—just bring your own bags!