3 Tools To Automate Your Billing and Business Financials

In our industry a lot of focus is placed on prospecting and getting clients.

Less time on providing the services because starting out its best to focus on outsourcing to professionals rather than doing it all yourself.

And almost no time on what matters at the end of the day, how to collect the money and make sure you are making a profit!

Below are the 3 tools we use to automate our client billing and manage our business financials.

Would you like an in-depth step-by-step training on how to manage the financial side of your business? (These 3 tools are just 1 slide of the entire training.)

Then become a Local Autopilot member and our next live training for members is all about setting up, automating and managing the finances of your business.

You can attend live or watch the recording as a Local Autopilot member.

3 Tools To Automate Your Billing and Business Financials

1. Stripe – Process Credit Cards

The first tool you need is a way to process your client’s credit card and have it deposited into your bank account.

In the past you would have to apply for a merchant account, pay a large sign up fee, fill out massive paperwork, wait a week or more to (hopefully) get approved, then pay monthly fees and per transaction fees.

To say it was an expensive pain in the rear is an understatement.

Stripe revolutionized merchant accounts!

Within 5 minutes you can compete their online application and be instantly approved and accepting credit cards!

Plus they seamlessly integrate with all of the online billing, CRM, and account platforms.

And they have no set up or monthly fees and a very simple percentage transaction fee.

2. Freshbooks – Automate Your Billing

The next step is having an online tool to automate the billing or invoicing of your clients.

We use Freshbooks for this. You can create an account for free and then its just a small flat monthly fee once you have paying clients.

And it seamlessly integrates with Stripe to process the payment for you you.

Once you set up a client in the system you have 2 options.

If they will be paying the same amount every month, then you can set them up to automatically be invoiced and billed (through Stripe.)

If the amount you will bill them changes each month then you can invoice them through Freshbooks and it will email them their invoice, give them a form to pay you (that connects to your Stripe account), follow up with them if they do not pay and report everything for you.

3. Xero – Manage Your Business Financials

The last tool you will want to use is a bookkeeping software.

We personally love Xero because its a modern day online bookkeeping software that is a very low monthly fee. Some others if interested are Bench.io and Quickbooks.

You can have all of your transaction data from Stripe and Fredhbooks automatically be added to your Xero accounting. As well as have it seamless connect to your business bank account, credit card, paypal account and more.

Then just have a bookkeeper (you can find one very inexpensively on Upworks) spend a few hours every month updating and reconciling your bookkeeping.

This will then give you the Income Statement and Cash Statement you should be looking at every month.

(FYI, if you become a Local Autopilot member, on our Financial training webinar I give you the template for our Financial Dashboard we use in our agency to track all of the key financial numbers in our business.)

This will also streamline the filing of your yearly taxes as well.

To Sum It Up…

The 3 tools you can use (that seamlessly work together) to manage the finances of your business are:

Stripe
Freshbooks
and Xero

Would you like an in-depth step-by-step training on how to manage the financial side of your business?

(These 3 tools are just 1 slide of the entire training.)

Then become a Local Autopilot member and our next live training for members is all about setting up, automating and managing the finances of your business.

You can attend live or watch the recording as a Local Autopilot member.

-Kevin

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One Response to 3 Tools To Automate Your Billing and Business Financials
  1. Paul Moore

    Hi Kevin great info. I am just starting out in the field and wasn't sure about Stripe. Really appreciate the info.I follow you through e-mail and your webinars, very informative. Also, welcome to NYC, I'm a native, good to have you here.

    Paul Moore

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