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How to simplify your recurring billing

by Susan Bapsnill

Are you familiar with the term recurring billing? Have you ever thought of using it in the context of your business to increase payment for the products and services you provide? Most business owners don't know what recurring billing can do for their business. So let's take a look at what recurring billing is and then - what it can do for your business.

Recurring billing is when you give a merchant or service provider permission to debit your bank account or credit card at regular intervals for the purchase of goods or services. The recurrence can be on any term e.g. weekly, fortnightly, monthly, or annually. The recurring amount charged is usually the same on each recurrence, but can differ. For example an annual fee of $10.00 for your subscription to an online service.

We know what it is now, but what can recurring billing do for you and your business?

Keep the cash coming in

If like many other small business owners and freelancers you think that recurring billing is only for enterprise or corporate entities, you will be surprised to learn that recurring billing can work wonders for your SMME too. You can quite simply and very cost effectively implement subscription billing in your own small business.

Debiting payment via subscription billing means increased cash-flow for businesses. When getting paid only via wire transfer or direct deposit only you are intermittently getting small, unscheduled payments that each incur bank changes to you and your customer. These once off payments can be sporadic so you are never sure when or even if your clients will pay you.

Constantly having to worry about when you will receive payment from your client's means you never have a chance to plan in advance. Subscription billing gives you the ability to project income over several months. As payments are recurring and repeat on a scheduled basis you know exactly what date you will be receiving what amount. Great for planning your businesses budget and scheduling your own debits.

Get your money on time

Subscription billing allows you to control when you get paid. It's easy, when client's sign up you specify the debit amount and recurrence. Then sit back and wait and you watch funds being automatically collected on the dates specified. This means no more late payment or waiting for urgently needed funds to clear. You now know exactly when you are going to get paid.

Spend less on payment collection and administration

Payment gateways that facilitate subscription payments usually offer automatic account reconciliation or provide bulk reconciliation files that allow simple and accurate consolidation of client payments. This in turn translates to massive savings in time and money on your side. No need to employ many staff members to collect payment and control recon, save money. Your customers will also thank you for this because they save time. They don't have to worry about going through to the bank to make manual payment, subscription billing automatically takes care of their payment when it's required.

Sounds awesome! Sign me up! Find the best resources for subscription billing systems online or ask fellow business owners for referrals. We suggest signing up with a gateway that automates subscription billing and a payment facilitator that enables automatic account reconciliations.



Susan Bapsnill is an expert at business billing. She recommends a <a href="http://www.subscriptionbillingsystem.com">subscription billing system</a> to automate your billing procedures. Click here to try <a href="http://www.snapbill.com">subscription billing</a> for free.

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New Unique Article!

Title: How to simplify your recurring billing
Author: Susan Bapsnill
Email: jj.vanwyk@gmail.com
Keywords: online billing,recurring billing,subscription billing,billing system,billing,business advice,money,financial,business,internet
Word Count: 545
Category: Ecommerce
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