After you create an invoice, what next?

9 replies
Hey guys and girls:

I created an invoice with Wave and now I need for the client to do the actual paying online. How do I go about this? Do I setup a payment process on paypal?

Please respond.


Thanks,
Jarod B
#create #invoice
  • Profile picture of the author Jason Kanigan
    It's up to you. What fees do you want to pay? How open do you want to be to chargebacks?

    I use paypal and it's fine, but you lose about fifty bucks per thousand. Someone could create a chargeback up to a year later, if they used their credit card.

    Check is best. Ask for them to mail you one, and don't begin the work until you receive it. Or there are options to take checks over the phone.
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    • Profile picture of the author jarod b
      Originally Posted by Jason Kanigan View Post

      It's up to you. What fees do you want to pay? How open do you want to be to chargebacks?

      I use paypal and it's fine, but you lose about fifty bucks per thousand. Someone could create a chargeback up to a year later, if they used their credit card.

      Check is best. Ask for them to mail you one, and don't begin the work until you receive it. Or there are options to take checks over the phone.
      Wow didn't expect a response from you (especially not so fast lol). But thanks man. You know, I was actually JUST about to consider taking up credit cards (I'm even on the page right now and just need to click the 'next' button haha), but after reading they can create chargebacks, that disturbs me a little o_O.

      How would you go about taking up checks over the phone? I've never done that before
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      • Profile picture of the author Jason Kanigan
        Originally Posted by jarod b View Post

        Wow didn't expect a response from you (especially not so fast lol). But thanks man. You know, I was actually JUST about to consider taking up credit cards (I'm even on the page right now and just need to click the 'next' button haha), but after reading they can create chargebacks, that disturbs me a little o_O.

        How would you go about taking up checks over the phone? I've never done that before
        Search the Offline forum for taking checks over the phone...IAmNameless has talked about it as did John Durham.

        I take payments via paypal and cc all the time, but it is a risk. Nothing bad has happened beyond a WSO buyer claiming his card was stolen and used for the purchase. Frankly I think he just ran out of money, since I emailed the access to him (was his email hacked too?!) and had IP tracking showing multiple logins. But whatever, that's one out of tons. Worst thing was that the cc company backcharged me double the amount.

        Cash, EFT and check are the ultimate in protected payments.
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        • Profile picture of the author jarod b
          • @Jason Kanigan
          Hmm. Should I do wire transfers too? And I just looked up what IAmNameless had to say. He said he only do checks though; not paypal. I wonder why though.

          • @LEIVA
          Yeah I thought about Freshbooks too. But then I discovered Wave. They do all of those things in 1 place, and every thing is added up for you instantly. You can even setup bill reminders for upcoming on-going expenses.

          I just did a research on taking checks over the phone and with a website. That's pretty cool, although I'm a bit overwhelmed about how the actual process is done. I'm going to consider this option though if I need to take a check over the phone.

          • @kebertt
          Well I can't say if I'll stick with Paypal forever or even for a long time like some freelancers would, but I do expect to make a change on how I accept payments in the future, and one option will involve me having a merchant account so I can avoid most of these issues.

          I actually use Stripe since I'm using Wave though. Wave uses Stripe to take payments.

          I'm not sure about Brain Tree Payments though. It seems like they only take credit card payments, which I'm not even going to consider, now that Jason has made that clear for me lol.
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          • Profile picture of the author Jason Kanigan
            Originally Posted by jarod b View Post

            • @Jason Kanigan
            Hmm. Should I do wire transfers too? And I just looked up what IAmNameless had to say. He said he only do checks though; not paypal. I wonder why though.

            • @LEIVA
            Yeah I thought about Freshbooks too. But then I discovered Wave. They do all of those things in 1 place, and every thing is added up for you instantly. You can even setup bill reminders for upcoming on-going expenses.

            I just did a research on taking checks over the phone and with a website. That's pretty cool, although I'm a bit overwhelmed about how the actual process is done. I'm going to consider this option though if I need to take a check over the phone.

            • @kebertt
            Well I can't say if I'll stick with Paypal forever or even for a long time like some freelancers would, but I do expect to make a change on how I accept payments in the future, and one option will involve me having a merchant account so I can avoid most of these issues.

            I actually use Stripe since I'm using Wave though. Wave uses Stripe to take payments.

            I'm not sure about Brain Tree Payments though. It seems like they only take credit card payments, which I'm not even going to consider, now that Jason has made that clear for me lol.
            I included EFT for completeness. They're a bit more complicated.

            Paypal you can get chargebacks and they take a pretty big chunk of the sale. For a project once in awhile it doesn't seem like a big deal, but add it up over a year...anyway it's a price to pay for easy payment processing. But you're open to at least 3 months' risk for chargebacks, and a year if they used a credit card to pay your paypal invoice.
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            • Profile picture of the author jarod b
              Originally Posted by Jason Kanigan View Post

              I included EFT for completeness. They're a bit more complicated.

              Paypal you can get chargebacks and they take a pretty big chunk of the sale. For a project once in awhile it doesn't seem like a big deal, but add it up over a year...anyway it's a price to pay for easy payment processing. But you're open to at least 3 months' risk for chargebacks, and a year if they used a credit card to pay your paypal invoice.
              Hmm. Well I just did some research and happened to realize (I think?) that Stripe (it's integrated with Wave) does the same thing as Paypal as well. Can I use Stripe instead?

              And what about transactions over 5K and 10K?
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  • Profile picture of the author LEIVA
    Originally Posted by jarod b View Post

    Hey guys and girls:

    I created an invoice with Wave and now I need for the client to do the actual paying online. How do I go about this? Do I setup a payment process on paypal?

    Please respond.


    Thanks,
    Jarod B
    My suggestion is if you are in USA why you don't use
    FreshBooks - Online Invoicing, Accounting & Billing Software for estimates/invoice
    Shoeboxed for expenses or i think freshbooks has the option now
    and Outright for accounting

    Freshbooks syncs to outright as an addon, and shoeboxed syncs to outright as an addon.

    Just for the tax purpose if you are in US, everything will sync for you automatically

    And there is a company to take checks but forgot the name
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  • Profile picture of the author kebertt
    There are so many different options for payment processing... Had a bad experience with Paypal about 5 years ago due to holding funds and we've never gone back. Since then, we've been processing our payments with Google Checkout; unfortunately they're closing their Checkout operations and we'll be seeking a new payment processor soon as well... Regardless of what you choose, I wouldn't worry about chargebacks. If you're providing a quality service and are working with good clients then you shouldn't have any issues.

    Some other options are:

    https://stripe.com/
    https://www.braintreepayments.com/
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  • Profile picture of the author JackCurtis
    I'm not sure where you are from but if you are in the UK then I highly recommend GoCardless https://gocardless.com/

    I've been using them for over a year now and so far no complaints.
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