All aboard! Our team is ready to get your books in order, start your year-round tax strategy, and provide valuable financial insights. There’s just one more thing to cover before we get started… how to pay for these services.
At CSI Accounting & Payroll, we’ve worked with small businesses for nearly 60 years. We’ve seen how payments have changed over time and currently use the payment method that works best for us.
One question we get a lot: “Can I use a credit card?” We make an exception for the initial investment, but we collect electronic payments moving forward. In this article, I’ll explain why, addressing:
- Why can I pay my initial investment with a credit card?
- Why can’t I pay my ongoing monthly accounting service with a credit card?
- What do I need to know about electronic payments (ACH)?
Credit Card + Initial Investment? Yes, if You Want!
Like most services, we have an upfront investment. The more back work you need us to handle, the larger the investment will be. Can you use a credit card for this? Yes! Do you need to? No!
So, why do we allow it? There are three main reasons:
- It’s a courtesy. Depending on your credit card, allowing you to use it for its perks is a way to say “thank you” to our new clients.
- It preserves your cash flow. You might not be ready to pay a larger fee if you weren’t expecting it (ex. a large back work project). Using a credit card for something like this frees up your cash.
- It’s only a one-time payment. There are reasons why we don’t accept ongoing credit card payments (which I’ll get into in the next section), but a one-time exception keeps the pain minimal.
Credit Card + Monthly Service? No, Thank You!
We don’t allow credit card payments for our ongoing monthly accounting service due to fees. Major credit cards charge between 2.5% to 3.5% for every payment – and that adds up over time. (If your business accepts credit card payments, you know exactly what I’m talking about.)
If we were to eat the cost, we’d have to start cutting corners. That’s not what we stand for. We also don’t want to pass on this fee to our clients. We walk the thin line that allows us to keep our fees minimized and our service above the industry standard.
So, how do you pay for ongoing monthly accounting services? We just use an electronic payment! I’ll tell you all about it in the next section.
All About Electronic Payments
The type of electronic payments we use is Automated Clearing House (ACH). The Consumer Financial Protection Bureau defines ACH as “an electronic money transfer made between banks and credit unions,” and notes that “businesses often allow you to pay bills via ACH by providing your account number and bank routing number.”
That means there’s nothing for you to handle! We draw the payment from your account on the last business day of each month. This can make some business owners nervous, so I love to point to our hundreds of positive Google reviews for peace of mind.
Have the Best Payment Experience!
Now that you know why we accept a credit card payment for the initial investment but use electronic payments moving forward, you’re ready for our monthly accounting services!
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