The laundry business has been around for centuries and has come a long way since its inception. For them, running a smooth operation means more than just fresh linens and pressed shirts. It is also about efficiently managing invoices, tracking payments, and keeping records clean, all while keeping up with client’s busy schedules. However, most laundry businesses face significant challenges when manually managing their finances. The only way they could overcome this is by handling accounts receivable using the cloud-based platform.
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Common Challenges Faced by Laundry Shops
Running a laundry shop may seem simple on the surface, but handling the business side of it is complicated, especially when dealing with invoices and payments. When you create invoices manually, there is a high chance of mistakes in your invoices. A missed decimal, a forgotten line, and suddenly, you are dealing with billing confusion, unhappy customers, and delays in getting paid.
And speaking of delays, waiting for payments to come in can really mess with cash flow. Laundry shops that only accept money via cash waste a lot of time handling transactions in person. Here, customers may have to make a special trip just to pay, or they might delay payment until their next visit. This means that even more time passes before you get paid.
Another hiccup? Limited payment options. These days, each customer may have their own payment choices. If it is not available, there are possibilities that you may lose them as your customer.
Then there is the whole record-keeping thing. Manually tracking and recording who has paid and who has not paid is a hassle and is risky, as there are possibilities of human errors.
So how can a laundry shop solve all these piling-up challenges they face?
The one and only answer that can make a real difference for laundry shops is using Zil Money. The cloud-based platform allows you to easily request payments from your client. You may also create and send invoices, payment links, and check drafts.
Create And Send Invoices
An invoice is a document that is actually a list of goods and services given by one party to another. It also contains the statement of the sum owed for these goods or services. You can create and send invoices easily with Zil Money. For this, you can follow the given steps.
- Log in to your Zil Money account.
- Click on the receivable option on the side panel.
- Choose the invoice option from the dropdown.
- Click on the new option.
- Enter your invoice details in the dialog box that pops up.
- Add attachments if needed.
- Send the invoice either via mail or email.
- You can also save the invoice.
- You also have the option to import invoices from third parties, which helps you to eliminate manual data entry.
- There are also options to print, SMS, email, mail, void, and delete your invoice.
Collect Payments by Sending Payment Links
For a laundry shop owner, receiving payments from clients is more important than anything else. So, making it an easy and convenient process for the customer is crucial. Also, customers should be provided with multiple payment options so that they may choose their preferred option. This creates an impression that you value your customers and encourage them to use your service again and again.
With Zil Money’s payment link feature, a laundry shop owner can easily collect payments from customers and, at the same time, offer them multiple options to make the payment. Creating the link is easy and straightforward. Once you have created the link, you can share it with your customers through email or SMS.
Your clients will be directed to a specific checkout page when they click on the link. From there, they can make the payment either directly from their bank account or from their credit card.
Receive Payments Easily
You can request payments from your clients easily using Zil Money. Once you have requested the payments, you can see all the details of it right in front of you. Your payment status will change to ‘pending’ when the client has made the payment. The platform even allows you to accept or reject the payment.
If the payment is received as checks, you have the option to print it on white paper or check paper. You also can manually pull funds from the client’s account through ACH with the platform. For conducting this process, you may require manual bank account approval. You can transfer the money directly to the wallet of the ACH-approved bank account using the direct deposit button. The platform even allows you to receive payments from virtual cards.
Send Check Drafts Effortlessly
A check draft is basically a type of payment method that allows a business to create a check on behalf of a customer without the need for a signature. Laundry shop owners obtain authorization from the customer to draft the check, including the necessary account details. Once created, this check draft can be deposited just like a regular check.
With Zil Money, you can create and print check drafts easily. The platform offers a recurring check draft service with which you can collect payments from your customers regularly without dues.
Conclusion
A laundry shop can effortlessly receive payments from its clients using Zil Money. The ability to request payment, create and send invoices, payment links, and check drafts makes the platform ideal for any business. In short, the cloud-based platform offers multiple accounts receivable options that simplify the financial management processes for businesses of all sizes.
