Last editedFeb 20222 min read
How do you keep track of your customer payments? If you’re still using a filing system that involves paper receipts, it’s time to go digital with the best payment tracking software. No matter your business size, the best automated payment tracking systems can help you cut down on financial admin. Most software is equipped with an interactive central dashboard, filters to help you find the payments you’re looking for, and the capability of generating automated reports. Here are six of the top options when it comes to payment tracking.
A popular accounting system for small and medium sized businesses, Xero offers an array of expense management, bill paying, and invoicing capabilities. Business owners can view their financial situation at a glance via the central dashboard, accessible from any online device. The software uses real-time bank feeds to automatically update your lists of transactions with the latest payments and expenses.
To access Xero’s payment tracking features, you can visit the ‘Business’ menu and select ‘Sales overview’. From there click on Paid, located next to invoices. This shows you the paid invoice, where you’ll be able to view the payment account.
2. Zoho Books
Another top payment tracking system is Zoho Books, available for Apple, Windows, and Android devices. Automated invoicing and bill paying features mean you can stay on top of your financial obligations. View payments as they come in with real-time updates and ensure that you get paid on time with the automated payment reminder feature. You can link both your business bank account and POS system to ensure that all incoming payments are accurately logged.
One unique feature that Zoho Books offers is a client portal enabling customers to track their own payments. This ensures that you and your clients stay on the same page, avoiding any disputes for a strong customer-brand relationship.
If your business deals with a high volume of international payments, you might want to look at a payment tracking system like Braintree. This global commerce tool allows you to accept and track payments across multiple devices. Braintree works with over 130 currencies across 45 different countries and regions.
In terms of tracking features, businesses can filter transactions by card type, settled date, created date, and other advanced criteria. You can also access a decline analysis to find out which payments were declined, along with accompanying codes to sort out the problem.
If you’re looking for payment tracking software that also provides data analysis, Putler could be a useful tool. With the software’s main dashboard, you can not only track payments but also see the daily sales averages, user profiles, and subscriptions. Analytics tools apply to both SaaS and other types of transactions, and you can export data as needed to integrated systems.
Another handy feature that Putler offers in comparison to rival free payment tracking software is a selection of marketing tools. You can pull statistics together from Google Analytics and put together campaigns using payment-derived data.
One of the UK’s most popular multichannel payment gateways, WorldPay Online Payments comes equipped with a handy merchant portal. From here, you can view analytics regarding your client payments, all fully encrypted and PCI compliant. You’ll be able to see real-time data as orders come in, as well as live order status and conversion rates. For a historic view of sales and payments, WorldPay also generates detailed financial reports at the interval of your choosing.
You might already know that GoCardless helps you take pull-based Direct Debit payments, but did you know that it also offers payment tracking features? There are two main ways to track payment status. One is to access the payments section of your GoCardless dashboard, where you’ll see a list of accepted payments. These can be filtered by creation date as well as their current status. Another option is to access the customers section of the dashboard, where you’ll see payments taken from each client.
We can help
GoCardless helps you automate payment collection, cutting down on the amount of admin your team needs to deal with when chasing invoices. Find out how GoCardless can help you with ad hoc payments or recurring payments.