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How CloudBanking Accounting Integration Works?

Manually entering and reconciling payments with your accounting and CRM (Customer Relationship Management), will increase the possibility of human errors and redundant data entry. You can never have the up-to-date financial information and may lead decisions based on faulty information. CloudBanking is here to assist you through integrated payment processing with your business solutions.  

Integrated accounting provides a complete real-time picture of your business and lets you receive complete and accurate financial information. The information flows automatically into the accounting system as orders are processed and payments are received.   

What is Accounting Integration? 

Accounting integration is a system that combines major financial accounting functions into one application. It interconnects your business’s functional areas such as point of sale terminal, inventory recording, and office expenses, and eliminates the need for a separate book for billing and bookkeeping. CloudBanking provides a game-changer program for your business and allows you to securely connect and access information online. Through integrated accounting, you can eliminate duplicate data entry, streamline accounting processes, and increase accuracy and efficiency. Sync up your accounting software (MYOB, Xero, and QuickBooks) with the CloudBanking platform to efficiently reconcile payments and invoices.  

How CloudBanking’s Accounting Integration Works 

CloudBanking integrated payment solution provides a competitive advantage for your business. We offer all merchant services: – from credit card and debit card processing to equipment and terminals. We help you grow your business by applying an interchange fee structure to your customers, so you no longer have any issues processing your customers’ payments. This makes your business cater to all your customers’ financial needs. 

CloudBanking payment platform offers a game-changer program that allows you to securely connect and access your information in the cloud. By synching up, you can automate your vital business processes, such as payment processing and reconciliation, which saves your valued time and resources. Here is how CloudBanking’s Accounting Integration works: 

  1. One of CloudBanking’s best features is we are here to help you manage all of your accounting software and open them into one platform. Login in to your CloudBaking Portal and connect your favorite accounting app in just a few clicks.
  • From your Dashboard, click your profile and select Connected Account. 
  • Choose any of the accounting software you are currently using. A new tab will be opened and will direct you to log-in to your account to authorize the action. 
  • Once authorized, proceed to the Invoices Tab, Select Sync Invoice and choose which Accounting Software you’ve just authorized to import invoices to be sync with the platform. This will load for a few minutes and a pop-up message will appear that it’s successfully synced between the accounting software and CloudBanking platform. 

2. After enabling the integration, click the Invoice tab to sync all your data automatically. 

3. Make changes to your customers’ data in one app and have it reflected in both platforms-automated reconciliations. 

Benefits of Using CloudBanking Accounting Integration 

As you are in the process of maximizing sales and expanding your business, you would want to integrate your payment app with an accounting system. More and more businesses are integrating their accounting system with their payments apps with very successful outcomes. Whether you are using XeroMYOB, or QuickBooks as an accounting system, CloudBanking provides you a complete integration solution. Let’s have a look at some of the major benefits of accounting integration:  

  • Reduce Human Errors 

With the old paper filing systems, human errors are unavoidable. If you are using your accounting system for invoicing, reporting, and payments, then having them integrated with your payment partner will not only make your whole system more efficient, but will also save cost and time. It reduces errors by saving your time on redundant data entry, credit card verification, and hassle-free invoicing. 

  • Provides Real-time Business Snapshot. 

When you integrate your accounting system with a payment processing solution, the details on your accounting or other business systems will automatically be recorded. It provides you a real picture of your business and gives you more financial visibility and control. CloudBanking’s recurring processing tool provides you better visibility and capability to produce real-time, accurate reports.  

  • Improve cash flow and speeds up decision-making. 

An integrated payment solution closely monitors payments, speeds-up the process to post receivables, and improves cash flow. Besides, linking all account receivables and payables ensures you higher visibility of transactions on both vendor and customer sides. Thus, it makes it easy to analyze all the historical data and insightful decisions. 

Via Cloudbanking dashboard, you can easily evaluate transactions like vendor’s supply history, sales estimates, and other information and built smart business strategies.  

  • Provide a secure verification of card data and electronic payments. 

CloudBanking offers world-class security benefits when comes to accepting payments via credit and debit cards. Partnering with PCI-compliant vendors, we ensure compliance with PCI security standards for informational storage and encryption.  

Conclusion 

CloudBanking payment gateway is a technology that connects merchants to payment networks.  It captures the customers’ payment details and sends that information to an acquiring bank for approval and then sends the bank’s response back to the website. At CloudBanking, we provide more function, such as: 

  • PCI Compliance to avoid fines. 
  • Recurring bills on a subscription-based pricing scheme. 
  • Notifications to verify transactions. 
  • Payment information storage so that your customers do not have to re-enter their personal information. 
  • Virtual terminal imitation physical credit card terminal for convenient input. 
  • Encryption for high levels of security for sensitive user information. 
  • Integration with other tools like accounting software or shopping carts. 

CloudBanking consistently develops new resources and the best tools to make it easier for you to avoid fraud and disputes. Visit us now!

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    ACCOUNTING SERVICES

    Run fast, accurate, and automated accounting processes through Cloud Banking’s white label portal for accountants. Simply ask your customers to log on to your dashboard so you can download all their statements and reports—making it easier for you to do their taxes. Likewise, you can make sure that our platform can help you streamline everything from financial consolidation to compliance reporting and audits.

    Our innovative payment solutions can easily be integrated into your existing accounting, invoicing, and billing software so you can get paid faster and more secure. Interested? Start by talking to one of our business specialists today.

    HIGH RISK

    Are you in the high-risk vertical market? Getting tired of looking for a reliable payment solution for a high-risk industry? Don’t worry! CloudBanking got you covered.

    We understand that banks and low-risk providers may instantly turn down merchant accounts who they deem industries with a history of high chargebacks, irregular high ticket sales, or that are highly regulated. Thus, finding a high-risk payment processing solution that keeps high-risk businesses running efficiently might be a daunting, frustrating process. This is all the more true for the CBD oil industry. However, CloudBanking understands that your business model works for you. We believe in your business’ desire to help the community and we’re committed to providing top-rated services.

    Thus, we go the extra mile to ensure your business’ security and efficient cash flow. We provide tailored solutions and features because we understand your unique needs. You can now offer your customers a smooth and seamless journey with our innovative payment solution for high-risk industries.

    HEALTH AND WELLNESS

    Focus on what matters most to your business—your customers. And allow CloudBanking to take care of your payments. Our payment solution for the health and wellness industry will be your trusted partner in improving your customer experience. With our innovative platform engineered to accept all kinds of payments and provide the security, you need; we can guarantee you streamlined business operation.

    In the ever-changing global marketplace, make your business at the forefront of innovation to give your customers the best customer experience. Trust that our payment solution for health and wellness is here to help you meet your customers’ expectations while improving your cash flow. Contact us today to experience the difference.

    FIELD SERVICES

    Are you one of the small or mid-sized businesses in the field service industry having trouble collecting payments? And are you tired of all the waiting and hassles? Then, it’s time for you to adopt a phone- and cloud-based payment solution for field services that will improve your cash flow and accuracy. Allow your field services staff to accept payment on-site so they can focus on the next job.

    Level up in the game field by offering a cutting-edge payment solution for field services that will assist you in meeting your needs and improving your bottom line. Contact us to know how we can be your trusted partner in getting paid faster and secure.

    RETAIL

    The retail environment has evolved rapidly in the past years. To keep with the pace and increase your bottom line, you need to integrate a platform providing a full suite of card payment systems that fully satisfies the needs of you and your customers. CloudBanking’s payment solution for retail industry is here to help you stay in the game and be more competitive.

    Powered with the latest technology, our credit card processing solutions allow retailers to accept any form of card payments such as credit cards, debit cards, and EMV-compliant cards. Our payment solution for retail industry can help you effortlessly manage your point-of-sale transactions while you boost your retail sales.

    PROFESSIONAL

    CloudBanking offers a customized payment solution for professional services companies, such as law firms, insurance agencies, and accounting firms. Our platform is designed to provide you a safe, convenient, and secure way to accept your service fees and lessen the administrative cost related to payment processing.

    We understand that your business’ payment processing needs are unique. So you can’t just rely on any payment processing platform to manage your cash flow. You need a trusted partner to receive payments fast, secure, and easy. Enjoy this hassle-free process when you integrate our payment solution for the professional services industry.