We make no secret that we love Xero here at Flamingo Accounting – but we also love Go Cardless!
It’s a Xero Add-on that allows you to take cheap Direct Debit payments – with all the admin taken care of at the click of the button.
Go Cardless won the Xero App of the year 2017 and has three main advantages:
- Get paid on time, every time
- Reduce admin and save time in Xero
- Improve client relations – no more awkward calls requesting payment
It’s completely flexible so you can set the timing, frequency and amount you collect, so if your prices go up there is no need to get a new standing order signed, just up the Direct Debit amount.
It also benefits your customers because:
- they don’t need to remember to set up payments to you
- they are notified of any payments due to be taken so no nasty surprises
- and they are fully protected by the Direct Debit Guarantee
How it works
You simply link your Xero account to your Go Cardless account and this pulls across your customer details.
You then choose which of your customers you want to set up, and they are sent a Direct Debit mandate to electronically sign.
Once signed, you choose which of your outstanding invoices you want to collect and Go Cardless does the rest.
When the money arrives in your bank account in Xero, it will automatically be matched to the relevant invoice and the fees posted to the expense code in the profit and loss account.
It’s that simple.
How much does it cost?
You are charged 1% per transaction, with a minimum charge of 20p, but a maximum of £2. There is no minimum contract or joining fee, so you literally pay for just what you use and can leave at any time.
To learn more about Go Cardless and Xero get in touch with us on the details above.