Home > Settings > Invoicing and Payments
The Invoicing and Payments screen details your invoicing contact and mail-to address. You can also set up your TrulySmall Accounting business to receive payment by credit card.
By enabling Payments, the invoices you email to your clients can contain a link that allows them to pay you online using Visa, MasterCard, or American Express. Once cleared, those Payments are automatically logged in TrulySmall Accounting. Then, when the money is transferred to your bank account, that Transfer transaction is also created in TrulySmall Accounting along with any associated fees for processing the online payment transaction.
Invoicing
The Business Information section stores the "Name" and "Contact Email" address for the primary contact managing invoicing and payments for your company. The email address will also appear as the sender when invoices are emailed to clients.
The address you type in the Mailing Address section will appear as the payment mailing address on your invoices.
The Additional Details section is where your business "Website" address, and "Phone", "Mobile", "Fax", and "Toll-free" numbers can be added.
Click on the Save Invoicing button when your changes in the Invoicing section are complete.
Payments with Stripe
In the Payments section, you have an option to accept payment by credit card using Stripe. If you do not yet have a Stripe account, you can register for one here.
Next Steps
When you are ready to connect TrulySmall and Stripe, simply click on the link to add your Stripe account.
2. Next, set a Processor Name. This is the name you will see when creating invoices. Since you're setting up Stripe, you can type in Stripe.
3. Select the account that you want to Deposit Payments to. This is where the funds will be tracked in TrulySmall.
4. Find your Stripe Live Secret Key by logging into the Stripe Dashboard and going to Developers > API keys. (Please DO NOT use the test or publishable key)
7. Input your Stripe Live Secret Key in TrulySmall.
8. Click Save.
Set Defaults and Notifications
Once you have set up your Credit Card Processing accounts you can set your default behaviours in TrulySmall, at the Company level as well as at the Customer level.
Company default:
In Settings > Invoice and Payments you have the option set the default way that you allow credit card payments, you can also choose to have no credit card option as your default.
Once you have set up your credit card processing account you will now have the option to set up Payment Notification Email. This will email you every time your customers pay. You don't need to do anything because the payment will automatically show up in TrulySmall but this way you will know in real time who has paid you. Additionally, we'll notify you if there's ever a problem when trying to process a payment.
Press Enter and If you've added an email address correctly, you'll see a green box below.
Sending Invoices and Receiving Payments
Create an invoice in TrulySmall. When you are ready to email it, click on the dropdown icon to the right of the Save button and select Preview & Send. This will launch a Send Invoice window with a preview of the saved invoice you wish to send for your final review, along with a payment link. Click on the Send Email button when you are done.
What Your Customer Will See
1. Your customer will receive an email that contains the link to pay the invoice online.
2. When your customer clicks on the link they will go to a page that outlines the details of the invoice.
3. When your customer clicks on Pay Invoice a pop up will appear and they will be asked to input their billing details and click on Pay Now.
4. They will then be taken to a payment complete screen, where they will have the option to Print Receipt.
Special Notes:
If you have multiple credit card processing accounts set up in TrulySmall, you can update the one you have set on any given invoice at will. Your customer will pay using the processor that you have selected in TrulySmall. If you have already sent out an invoice with a payment link to your customer and later change the processor in TrulySmall, your customer will pay based on your latest changes in TrulySmall -- all without you having to re-send the invoice.
If you disconnect your Credit Card Processing accounts, all payment links that have been sent via email will be voided. If you reconnect your Credit Card accounts, you will need to send out the invoices with new payment links on them.
If your TrulySmall subscription is not valid, all your payment links will be inactive.
User access level of Creator or Admin required in order to access the Credit Card Processing page to configure the settings.
Period Locking
You can't send an invoice with a payment link when your period lock end date is set in the future.
If you had sent an invoice with a payment link and then later change your period lock end date to a date in the future, when your customer pays their invoice, the payment will be processed normally, but the payment will not be recorded in TrulySmall. You will need to manually record this.
If the customer attempts to pay an invoice that has already been paid, they will see a message indicating there is no amount due and to contact the business owner for details.
About Stripe
Stripe is the world's leading digital payments provider, trusted by millions of companies of all sizes. Stripe offers competitive, pay-as-you-go pricing based only on the payments you process. There are no hidden fees, and you can rest assured knowing your critical financial data is protected by Stripe's best-in-class security standards.
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