It can be a juggling act, as an online retailer, to manage many different payment systems. Left unchecked, it adds up to a lot of manual data input and moving information from one piece of software to another.
Mistakes and discrepancies can be made in the process, not to mention all the time it takes. Fortunately, there are ways to alleviate the headache of manually inputting this data. We’re glad to say that we’re one of them!
Our Pandle accounting software includes features that instantly capture transactions from the payment system, simplifying the bookkeeping process whilst avoiding the need for accounting plugins on a website. While some plugins are essential to help a site perform, overdo it and the site might slow down – which isn’t great for the user experience.
It makes the process refreshingly easy as everything is ready in Pandle when the times comes to sort out the bookkeeping.
We’ll talk through some Pandle features that can seriously save time for eCommerce retailers, help reduce bookkeeping errors by removing the need to manually enter transactions, and streamline accounting in a flash.
Organise bank transactions with Bank Feeds
Users can keep on top of the accounts with Bank Feeds. This powerful feature allows users to sync their bank accounts with Pandle to automatically import transactions. It means that when a transaction takes place at the bank, the information about it is pulled through into the software, ready to be checked and confirmed into the bookkeeping records.
Supported by all major UK banks, this feature helps users to better organise their accounts by automating the record capture process, saving time and reducing the risk of data entry errors. Pandle even has a Bank Rules feature so users can create rules which tell Pandle which transactions to automatically categorise and assign tax codes to.
Integrate with payment systems
Payment systems are now a part of life for online retailers, so Pandle has created features that integrate with these popular systems.
It means there is no to-ing and fro-ing between one software and another; everything is automated and easy.
For online retailers who frequently use PayPal as a method of accepting payment, the PayPal Feeds feature works in a similar way to the Bank Feeds feature, automatically importing transactions from PayPal so they can be quickly categorised in Pandle.
If you sell internationally, PayPal Feeds can import transactions from any currency, so it’s one less task to worry about.
Pandle can also integrate with online payment-handling platform Stripe, using the Stripe Feeds feature. Along with all of the above benefits, Stripe integration also enables users to set up Pandle Pay.
This handy feature means that users can include a payment link in the invoices they send to their customers, so that they can pay instantly without any extra fuss. That’s probably everyone’s favourite way to get paid.
Pandle can also quickly resolve discrepancies between the bank, PayPal or Stripe, and Pandle balances, using the balance check feature. Meaning the bookkeeping records are more accurate, and a whole lot less stressful. Phew.