Accounts receivable is how you get paid. The more streamlined it is, the faster you get paid, and the higher your cash flows climb.
Plooto lets you add an unlimited number of vendors and customers to your system, making it easier to collect payments and monitor invoice statuses in one place. You can set up automated invoice notifications and instructions to help customers pay invoices on time. Plooto lets them pay via credit card, direct debit, and other options.
Plooto’s can also pull invoices from specific accounting software solutions (Quickbooks and Xero) for your monitoring convenience. It’ll also sync with these programs, keeping your books up to date.
Other features include payment status monitoring, pre-authorized debit agreement setup, and automatic account reconciliation.
Plooto does well on the accounts payable side as well, helping you reduce human error and chances of fraud while improving relationships with your vendors.
Like with receivables, Plooto lets you add an unlimited number of approvers for payment approval. You can also define criteria and customize approval tiers around those. For example, an entry-level employee wouldn’t be able to approve the same things that a senior finance employee might.
Again, Plooto keeps your Quickbooks or Xero books updated with its two-way integration. Most of your tedious accounting work is handled.
Tracking all those payments coming from a number of clients isn’t easy. Fortunately, Plooto offers a single intuitive dashboard where you can see all your clients and payment statuses in one area. No need to dig around for the information or generate multiple reports.
Being an accounts payable automation solution, Plooto offers numerous ways to pay clients. You can send money domestically and internationally. You can use checks or pre-authorized debits, depending on preference. It even provides specialized help with remitting funds to the Canadian Revenue Agency (CRA).