San Francisco, CA (PRWEB) December 09, 2014 -- AccountingSuite today announced its updated integration with Dwolla to speed transaction times and lower payment costs.
AccountingSuite users can pay vendors and suppliers through Dwolla, and can request customer payments through Dwolla.
Dwolla money transfers are made on the internet in real-time. Once funds are in the Dwolla network, payments are available to vendors instantly. Vendors also have the option to withdraw funds to connected bank or credit union account, in as little as one business day.
The cost of a Dwolla payment is 25 cents per transaction, or free if the transaction is ten dollars or less. A research by Aberdeen estimates that each paper check costs a company $7.15 cents. For AccountingSuite customers writing 1,000 paper checks a year, paying through Dwolla saves $6,900 or more.
Dwolla is an independent payment network that allows companies and individuals to pay each other directly. This avoids the high fees of money transfers, bank payments and credit cards.
“Dwolla is a terrific bonus for our users, because they can keep and reinvest more of their cash instead of paying it out in bank fees,” said Kurt Kunselman, Co-Founder of AccountingSuite. “Every day we are working to make accounting easier and less expensive for growing companies. With this integrating, our users can simply create a payment form for a vendor’s bill, then click the pay-with-Dwolla button or get paid with Dwolla by generating invoices with pay-with-Dwolla button.”
AccountingSuite customers can pay vendors and suppliers, or accept payments from customers, through:
- Dwolla’s payment network
- Stripe credit card processing
- Coinbase bitcoin wallet
- 6,000 banks, credit unions and credit card institutions
Dwolla creates an end-to-end, open-loop payment solution for anything connected to the Internet. The back-end software uses strategic financial partnerships and existing bank accounts to turn mobile phones, computers, social communities, and even physical locations into a secure network that bypasses, streamlines, or replaces components of current card and bank transfer systems. This allows friends, families, merchants, enterprise businesses, even the U.S. Federal Government to electronically send and receive funds, like cash, but without the fees and constraints of traditional debit and credit cards. Dwolla has raised over $30 million from CME Group, Andreessen Horowitz, Union Square Ventures, et al and is based in Des Moines, Iowa.
For information on Dwolla, please visit http://www.dwolla.com.
Research shows that paper checks cost $7.15 each to process. Source: Aberdeen Group, May, 2010. See Aberdeen Group report, “The E-Payables Solution Selection Report, October, 2010” here: http://ow.ly/FyNBh
AccountingSuite is based in San Francisco, California. AccountingSuite is all-in-one software for accounting, inventory, order management, time and project tracking. AccountingSuite provides easy-to-use, no-nonsense, scalable business software for startups, entrepreneurs, and growing companies to manage their finances and day-to-day operations.
Kurt Kunselman, AccountingSuite, http://www.accountingsuite.com, +1 888.328.8275, [email protected]