Hey small business owners & freelancers, want to get paid 70% faster? Here's how

Getting paid on time is essential for any small business or freelancer. But it can be tough to chase down late payments, especially when you are busy with other things.

One of the best ways to speed up payments is to offer your customers online payment options. This makes it easy for them to pay their invoices at any time, from anywhere.

And there's good news: offering online payments can help you get paid 70% faster, according to a study by GoCardless.

Here are two popular accounting software programs that offer integration with a variety of payment processors:

• FreeAgent: FreeAgent allows you to connect with GoCardless, PayPal, and Stripe.

• Xero: Xero allows you to connect with Stripe, PayPal, GoCardless, Square, Afterpay, Zip, LatitudePay, and Klarna.

To start offering online payments, simply connect your accounting software to a payment processor. This is a simple process, and most accounting software programs offer step-by-step instructions.

Once you've connected your accounting software to a payment processor, you can start adding payment links to your invoices. When you send your invoice, your customer can click on the payment link to pay directly from the invoice. Once they have paid, the payment will be automatically recorded in your accounting software account.

Here are some additional benefits of using online payment processors:

• Convenience: Online payments are convenient for both you and your customers. Your customers can pay their invoices from anywhere, at any time, and you don't have to worry about chasing up late payments.

• Security: Online payment processors use the latest security technologies to protect your customers' financial information.

• Affordability: Online payment processors typically charge a small fee per transaction, but this is usually offset by the increased convenience and security that they offer.

If you're not already offering online payment options to your customers, I highly recommend that you consider it. It's a great way to improve your cash flow and make it easier for your customers to do business with you.

How to activate online payments in Xero

1. Go to Settings > Payment Services.

2. Click the Add button and select the payment processor you want to add.

3. Follow the on-screen instructions to connect your account.

4. Once you have connected your payment processor account, you can start adding payment links to your invoices. To do this, create a new invoice and select the Payment Options section. Check the box next to the payment processor you want to offer, and then enter your account details.

5. When you send your invoice, your customer can click on the payment link to pay directly from the invoice. Once they have paid, the payment will be automatically recorded in your Xero account.

How to activate online payments in FreeAgent

1. Go to Settings > Connections.

2. Click the Manage button next to the payment processor you want to connect.

3. Follow the on-screen instructions to connect your account.

4. Once you have connected your payment processor account, you can start adding payment links to your invoices. To do this, create a new invoice and select the Online Payment Options section. Check the box next to the payment processor you want to offer, and then enter your account details.

5. When you send your invoice, your customer can click on the payment link to pay directly from the invoice. Once they have paid, the payment will be automatically recorded in your FreeAgent account.

Additional tips:

• Make sure to connect your payment processor account before you create your first invoice.

• You can add payment links to existing invoices by editing the invoice and selecting the Online Payment Options section.

• You can also offer multiple payment processors on your invoices.

• If you have any questions or problems, please contact your payment processor or accounting software support team for assistance.