Learn 6 Benefits of Integrated Credit Card Processing

Several firms are increasingly employing integrated credit card processing to help manage funds in order to minimize the burden of manual accounting. Businesses can use integrated payment processing to connect their accounting software to an integrated payment provider.

This streamlines the payment process and allows businesses to process payments directly within their existing software. The advantages of integrated payments are undeniably compelling. It can eliminate double data entry and make the accounting process much more fluid.

Integrated credit card processing is simple and highly effective.

Here are six advantages of integrated credit card processing for small businesses to assist them in optimizing their accounting processes.

1. Time is money.

2. Lower overall spending

3. Boost your cash flow

4. Minimize the possibility of human error

5. Enhance your workflow

6. Increase security

1. Time is money.

One of the major advantages of integrated credit card processing is the time saved by not having to manually enter credit card information into accounting software. Rather than having to manually enter every transaction detail, all batch information is automatically recorded into the ERP system or accounting software after a transaction.

Without any further human involvement, integrated payment processing transmits transaction information directly to accounting software. This frees up additional time in the day for employees to do other things that they would not have been able to finish otherwise.

2. Lower overall spending

Integrated credit card processing removes the need for workers to complete everyday chores. Because integrated credit card processing may automatically update payments to General Ledger, there is no need for a human to maintain Accounts Receivable or reenter transaction data into the accounting software.

Furthermore, it simplifies the payment process and gives employee training on how to process payments faster, helping businesses to save money and time on training.