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Booqable Rental Software

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Processing Payments and Invoicing in Booqable

Booqable simplifies payment processing and invoicing for your rental business. This guide will explain how to manage payments and generate invoices for your bookings seamlessly.

1. **Accepting Payments:**  Booqable supports both online payments through integrated payment gateways and offline payments.  

2. **Online Payment Processing:** If you have set up an online payment gateway (e.g., Stripe, PayPal), customers can make payments directly during the booking process.

3. **Offline Payments:**  You can enable offline payment options if you prefer to receive payments in person or through bank transfers.

4. **Tracking Payment Status:**  Booqable displays the payment status for each booking, indicating whether it has been paid in full or partially paid.

5. **Reconciliation:** Regularly reconcile transactions between your payment gateway and your Booqable account to ensure accurate recordkeeping.

  Booqable lets you generate invoices automatically for confirmed bookings. You can customize the invoice template with your company logo and contact information.

  Send invoices to customers via email or print them directly from the system.

 View your invoice history, including payment status and download invoices for your records.

  Modify the invoice template to include additional details such as delivery address, tax information, product details, or any other relevant information.

Tips for Efficient Payment Processing and Invoicing

  Send automatic reminders to customers for overdue payments.

 Integrate your local tax rates to ensure accurate invoice calculations.

  Generate invoices in formats such as PDF, CSV, or Excel for easy archiving and management.

Use a clear and professional invoice template:

  Create a visually appealing and organized invoice that reflects your brand identity.

Generate invoices, track payments, and manage financial records.

Processing Payments & Invoicing

Understanding Payment Fees and Reconciliation in Booqable

When using online payment gateways, it's essential to understand the associated fees and how to reconcile your transactions to ensure accurate financial management. This guide will explain payment fees and reconciliation within the Booqable platform.

1. **Transaction Fees:**  Most payment gateways charge a small percentage of each transaction amount as a processing fee. This fee is typically a percentage plus a fixed amount per transaction.

2. **Monthly Fees:**  Some payment gateways may also charge a monthly subscription fee or a fixed fee for accessing their services.

3. **Currency Conversion Fees:**  If you accept payments in different currencies from your customers, you may incur currency conversion fees.

4. **Withdrawal Fees:**  There may be additional fees associated with transferring funds from your payment gateway account to your bank account.

 Review your payment gateway's monthly statements to track all processed transactions, fees, and deposits.

  Compare the transaction information from your payment gateway statements with the booking records within your Booqable account.

 Ensure that every transaction listed in your payment gateway statement has a corresponding booking in your Booqable account.

  If any discrepancies arise between your payment gateway and Booqable records, investigate and resolve them promptly.

Tips for Managing Payment Fees and Reconciliation

  Before selecting a payment gateway, compare transaction fees and other charges offered by different providers to find the most cost-effective option.

  If you process a high volume of transactions, try negotiating lower fees with payment gateways.

  Utilize automated reconciliation tools to streamline the comparison process between your payment gateway and Booqable data.

  Keep detailed records of all transactions, payment fees, and reconciliation reports for accurate accounting.

  Periodically review your payment gateway statements and reconciliation reports to ensure the accuracy of your financial records.

Analyze transaction fees, reconcile payments, and ensure accurate accounting.

Understanding Payment Fees & Reconciliation

Accepting online payments is essential for any rental business. Booqable integrates seamlessly with various popular payment gateways, allowing you to securely process payments from your customers. This guide will help you set up payment gateways within your Booqable account.

1. **Review Available Options:**  Booqable supports several popular payment gateways, such as Stripe, PayPal, and Mollie.  Consider factors like transaction fees, security features, and ease of use when selecting a gateway.

2. **Check Gateway Compatibility:** Ensure that the selected payment gateway is compatible with your business region and currency.

3. **Sign Up for an Account:**  If you don't already have an account with the chosen payment gateway, create one.

Connecting Your Payment Gateway to Booqable

1. **Go to "Settings" in your Booqable dashboard.** Select "Payment Gateways" from the menu.

2. **Select the "Add Payment Gateway" button.** This will display a list of supported gateways.

3. **Choose your desired payment gateway.**

4. **Enter your Gateway Credentials:**  You will be redirected to the selected payment gateway's website. Follow their instructions to connect your Booqable account to your gateway account, including your API keys or account ID.

5. **Enable the Gateway:**  Once the connection is established, enable the payment gateway in Booqable.

  Place a test booking and attempt to make a payment using the newly connected gateway.

 Verify that the transaction is processed correctly and the funds are received in your gateway account.

 Ensure that the transaction information matches the booking details within Booqable.

 Understand the transaction fees associated with each payment gateway before connecting.

 Activate any available security features offered by your payment gateway to ensure the protection of customer data.

  Protect your payment gateway credentials and don't share them with unauthorized individuals.

  Regularly review your transaction history within both Booqable and your payment gateway to track payments and identify any discrepancies.

Connect your preferred payment gateways for secure online transactions.

Payments & Finances

Processing Payments & Invoicing

Understanding Payment Fees & Reconciliation

Setting Up Payment Gateways