Welcome to Q2. We are halfway through the year and today we cover how to make the most of your year: it is time to review repetitive invoices to save on expenses. No matter what is causing rising costs, there is something you can do now.
- Did you notice your Intuit fees increase from 1% to 1.75% without a cap?
- Are you using your financial software for more than invoicing?
- Have you seen fees for PCI non-compliance or failed scans?
All of these and more could be causing increased costs.
Repeating Monthly Invoices
If you issue bills monthly, be sure to review repetitive invoices. These can be set up with an automation, add dual pricing options, or depending on your area, offset with a surcharge. No matter what type of payment options you offer, you may be able to reduce your overhead by implementing better options.
This may mean reviewing the software you use today. You might choose to set up dual pricing that transparently offers your customer a choice. Perhaps you will decide on another alternative that has more flexibility along with back office support.
Using financial software
Be sure that you are using financial software the best way possible. For example, this could mean implementing automation and reporting. Over time, tools and features may have changed, and you need to make new selections to stay current with best in class options.
Stay on top of updates and the latest software version releases – this can reduce risk and maintain security.
Verify security and PCI scans
At least once a month, you should verify security status. If you have not done an audit, or run a PCI scan, you may be paying more than needed. Some providers will not notify you that you’re out of compliance. This can add costs to your account.
If you see a fee on your statement that you do not understand, it is best to ask. Paying monthly for failed scans or non-compliance is an unnecessary business expense.
No Contract Support from TransAct
Evaluate your options today. Reach out and inquire about best in class solutions that can be added to your TransAct Merchant account. We offer flexible solutions, software and equipment consultations as well as ongoing training or support for you and your team. Book a call today.