Shopventory VS Square For Retail


Let’s get right into things. Today we’re looking at Shopventory vs. Square for Retail. Why? Because if you need more inventory support than the basic Square Point of Sale app offers, they are your two best bets. Square (see our review) has been a pivotal force in the mPOS space since its beginning, but lately it has also been edging into the tablet POS market with an ever-growing number of features. Shopventory is newer, but it’s carved a niche out for itself as a supplement to not just Square, but also PayPal Here, Clover, and now even Shopify.

While Square dominates the mobile space as far as features, it lags behind tablet-based systems, particularly in terms of inventory. But now there’s Square for Retail. If you need more comprehensive inventory features, you’ll get them with an upgrade to Retail.

Shopventory is a monthly service that integrates with your Square account. While Square for Retail is a full-fledged POS, Shopventory is strictly an inventory-focused add-on for Square for Point of Sale. It replaces most of the in-app inventory management with its own web browser but it does keep the inventory lists automatically synced and generates reports.

A really quick disclaimer before we get onto the comparison: We’re not looking at the full Square for Retail app here (which I’ll also refer to as just “Retail” or “the Retail app”). We’re just focusing on how its inventory management tools stack up against Shopventory’s. It’s important to consider whether the cost of either service justifies its use. Retail offers many of the same features as Shopventory, but also includes employee management. However, it could be a more costly service given that the subscription is monthly per register. Shopventory offers monthly inventory management for three locations for less than the cost of one Square for Retail register subscription.

You don’t get everything that the standard Point of Sale app offers either, such as offline mode. In fact, the Retail app is more of a pared-down version of the POS app, but with more beefed up inventory and reporting. That’s not to say Shopventory offers all the inventory tools you could ever need, either. But it certainly seems to have the upper hand in terms of capabilities and pricing.

I think for the most part that either of this will do well. Although they might not be perfect, they’re both capable. But in the end, Shopventory has more features and more competitive pricing. I would test it out before upgrading to Square for Retail.

For more information, I encourage you to check out our full Shopventory and Square for Retail reviews. Otherwise, read on for our Shopventory vs. Square for Retail comparison and see how they stack up in the great battle for inventory management!

Features & Services

Winner: Shopventory

Both of these services offer enough that they merit full reviews in their own right. Our comprehensive reviews of Square and Shopventory explore the advantages and limitations of each. For simplicity’s sake, I am going to focus on three core aspects of inventory management and see how they stack up: inventory tracking, reporting, and purchase order/vendor management.

Inventory Tracking

With both Shopventory and Square for Retail, merchants get the ability to count inventory and have each sale deducted from total stock numbers. Both offer location management as well. You’ll be working with Square’s standard item listings, which means you can include all of the following: product name, photo, SKU/barcode, item description, and item variants with the option to set different price points.

Shopventory Inventory Tools

Screenshot of Shopventory home page

Shopventory works by syncing with Square. It pushes its inventory data (item prices, bundles, etc.) into the POS app and pulls sales data from Square into its own dashboard reports and updates the inventory counts in real time. Once you get inventory set up, you manage everything inventory-related through Shopventory, NOT Square. It might take some merchants a while to get used to that, especially if they’re used to relying on the Dashboard.

Shopventory’s pricing plan, which I’ll cover in the next section, focuses on the number of locations you use, not the number of registers or products. And setting up multiple locations is actually very easy. When you log into Shopventory, the dashboard asks you to create a location and then add an integration (that is, link to your POS). It works a little bit differently for each software, but here’s what you need to know for Square.

If you have separate Square logins for each location, that’s fine and you can connect each Square account to each location. However, if you take advantage of Square’s free location management instead, Shopventory will ask you to select a location from your list of Square locations after you connect the POS. (That means you should set up your locations in Square before you setup Shopventory.) If you’re using employee management and device codes to run multiple registers, it doesn’t matter. Shopventory tracks everything at the location level.

After you’ve created your locations and linked your POS systems, Shopventory will ask you to enable two major settings: “sync items and variants” and “sync item quantities.” This will establish the connection and effectively make Shopventory your primary inventory service.

Once you’ve set up Shopventory, you’ll continue to use Square POS as usual. Just make sure that you log into Shopventory to pull inventory and sales reports. This is especially important if you’re using the Shopventory-specific inventory features like bundles. Everything is synced in real time so you can log in and check whenever.

Here’s a quick run-down of Shopventory’s features:

  • Bundles: Square doesn’t support bundling, but this feature allows you to track raw ingredients, deduct gift basket items from main inventory stock and even keep track of goods sold at wholesale versus retail. It also allows for tracking of items by partial quantities (yards of fabric or goods sold by the pound, etc.) The bundling feature even includes bundle variants. None of this is currently supported by Square for Retail.
  • Low-Stock Alerts: You can set a custom threshold for each item, so you know when it’s time to reorder something.
  • Automatic Restocks On Refunds: You’ll have to enable this feature, as it isn’t turned on by default. It also doesn’t work on partial refunds in Square.
  • Multi-User Access: Shopventory also allows you to create multiple accounts with different permissions. Enable your managers and staff to better manage store inventory while ensuring accountability.
  • Inventory Transfers Between Locations: Is one location out of a product while another has too much of it? Use the Shopventory dashboard to keep track of internal transfers of merchandise.
  • Inventory History: Shopventory keeps a log of your inventory history, including when counts go up or down. When you manually adjust stock counts you can add a note to indicate why (theft, damaged goods, etc.). We’ll get a little bit more into some related features when we talk about reporting.
  • Inventory Reconciliation Tools: If you’re a bit old-fashioned, Shopventory does offer an easy downloadable reconciliation sheet for inventory. Just the basic details that you need, not a lot of extra information, which you can download via printable PDF or spreadsheet. However, Shopventory has also introduced a barcode scanner mobile app for inventory reconciliations. Each Shopventory user can download the app and scan and update inventory counts through the app, and Shopventory will keep a record of when and who was responsible. This is actually a pretty awesome tool.
  • Barcode And Label Printing: Shopventory lets you chose from a Dymo or Brother label printer, as well as computer printing on Avery label sheets.

Square For Retail Inventory Tools

Screenshot of Square for Retail home page

Square for Retail works pretty similarly to Square Point of Sale. Everything is controlled from the Square Dashboard or the app, though the dashboard gives you the most functionality. Even though the app (or at least parts of it) will look very different from the free version, your dashboard should look pretty much the same and the data entry process will be the same.

If you have a lot of inventory (and if you’re looking at this article, you probably are), the odds are good you don’t want to create each inventory item one by one. That’s where Square’s Bulk Upload feature comes in. You can download the spreadsheet template, populate it with your inventory, and upload your item library all at once. Likewise, you can also export your library to a spreadsheet if you need that data elsewhere.

Your item descriptions are nearly identical to the standard Square offering. Even though Square for Retail doesn’t display photos in the app, you can upload them for viewing the back end. Check out Square’s how-to video for creating items manually.

Technically, Square for Retail gives you access to the Inventory Plus features, but these are really (mostly) reporting tools or PO/Vendor management. So some of these features are actually just Square’s inventory features.

  • Low-Stock Alerts: You can set a custom threshold for each item so you know when it’s time to re-order something. (This is a standard Square feature.)
  • Employee Management: Square includes employee management at no additional charge with a Square for Retail subscription. So if you have a lot of employees this could end up being a good deal for you. You can set different user permissions, track time, and more.
  • Inventory Transfers Between Locations: Square initially required you to manually add or subtract inventory at different locations to record transfers, but that’s no longer the case with the Retail app. Now you can record merchandise transfers in the app.
  • Inventory History: Another feature that wasn’t present at Square for Retail’s launch, inventory history will show you all your sales, transfers, received shipments, etc. to show why your inventory count is what it is.
  • Barcode And Label Printing: Like Shopventory, you can choose to use one of two select label printers (A Dymo or a Zebra) or print from a computer onto standard Avery labels.
  • Vendor Library: All items associated with a particular vendor (as well as their prices) are stored in each vendor’s data file.

Note the lack of bundling features here and all that this entails: no bundles, no raw ingredient tracking, no partial ingredient tracking. This is one of the biggest limitations to Square’s inventory.

However, Square also doesn’t offer any sort of inventory reconciliation. You could download your inventory for export and modify the spreadsheet, but it’ll take a bit of work on your end to make that happen.

But that’s just for inventory management. We’ve still got to talk about reporting and purchase orders/vendor management.

Reporting Tools

First of all, Square’s reporting tools, overall, are pretty robust. (Check out the list of reports.) Shopventory’s reports exist mostly as an extension of Square’s, not a replacement for them. This makes sense given that Shopventory is an extension of Square, not a standalone app. In addition to some identical reports, Shopventory offers several reports that Square doesn’t — and a couple that Square for Retail doesn’t, either.

Square’s inventory reports are somewhat lacking. Specifically, something that merchants have been clamoring for is cost of goods sold (COGS) reporting. Square for Retail finally offers this feature, but thus far it hasn’t impressed. Editing the item costs isn’t easy to begin with, and the information isn’t available at key points in the Retail app experience. And all of that’s left merchants understandably upset. However, you can also keep a record of additional costs associated with a purchase (such as shipping or handling fees) that are added to your COGS tracking. That’s helpful.

In addition to COGS reporting, Square for Retail introduces a profitability report and an inventory by category report that lists the value of the items, projected profit, and profit margins in each category. This last report is more a combination of several other reports, but it’s nice to see.

On the other hand, Shopventory’s COGS reporting is a bit more advanced. Accessing pricing information seems a bit easier than with Square for Retail. Shopventory also tracks lot costs in addition to default costs. For advanced users, Shopventory has a cost averaging feature.  You can even back-fill lot costs using the default cost feature.

But apart from cost and profitability reporting, there’s another feature I like that Shopventory offers: a dead inventory report. You can print off a list of every item that hasn’t sold recently, and specify just how “recently” you want — whether it’s a week, a month, six months, etc. This is pretty handy because “slow” for one business isn’t slow for another.

It’s hard to ignore the fact that Shopventory outclasses Square for Retail in terms of reporting — it offers everything that Retail does, plus more. I’ve found that Shopventory and Square dashboards are both fairly intuitive and easy to use, so they’re evenly matched in that regard.

Purchase Order & Vendor Management

Since the upgrades to inventory and reporting tools are relatively small in Square for Retail, it’s nice to see that the additions in this category are actually pretty big game-changers. With the Retail app, it’s now possible to create purchase orders from within the Square dashboard and send them via email. You can also receive inventory from within the Square for Retail app.

If I’m being honest, Square for Retail and Shopventory are well matched in this category. There are a few differences — for one, with Shopventory you can only receive inventory through the web dashboard, not the app. But I think that, overall, their feature sets are pretty similar.

Square PO & Vendor Management

While you’ll need to use the Square dashboard to create purchase orders, you can receive stock from a PO directly in the Square for Retail app, which is nice. With Shopventory, everything has to be done from the dashboard, which is a major trade-off. However, it shouldn’t be a dealbreaker.

A few other features from Square that I like: You can create a new vendor listing from within a purchase order, whereas with Shopventory you must have all of your vendors already entered. You can also edit and cancel purchase orders as needed, and Square keeps an archived file.

I mentioned previously that Square does have an item library associated with a vendor, but I don’t think it’s the most effective display. When you add an item to the PO it is added to the vendor’s item library, but you can’t browse the item library while creating a PO. Instead, you need to search for the items you want in a drop-down menu. I know that some merchants have been frustrated that Square can’t auto-populate a PO using low inventory items. Others are also frustrated that they can’t see how many of an item are in stock. Instead, these merchants wind up flipping between tabs or screens to formulate a list of what is needed.

Shopventory PO & Vendor Management

Shopventory has a handle of the same shortcomings that Square for Retail does in this regard. Namely, you can’t auto-populate a PO based on low inventory, and you can’t view stock levels in the PO.  However, you can clearly browse every item associated with a vendor and select which ones you want to add to it. This kind of display seems kind of obvious, and it should be, but it’s not.

This might be the one area where I think Square has a modest upper hand. For one, Shopventory lacks the ability to edit POs or archive them to clear them out of your way while preserving the information. (The company says it’s working on this last bit.) But you can save as a draft, just like you can in Square. So if you’re not sure or you’re not ready, you don’t have to send the purchase order out into the world. With Shopventory, you also need to create your entries for vendors before you start the PO.

Pricing

Winner: Shopventory

Square for Retail’s pricing is very simple: $60/month per register. No tiered packages, no add-ons, no extra fees for priority phone support.

Square for Retail Pricing

That’s fairly competitive for an iPad-based POS system. But as we noted in our full review, Square for Retail actually removes several of the features available in the standard (and free) Point of Sale app. It’ll be up to you to decide whether the new interface and new inventory tools justify the cost.

Thinking more broadly, you’ll also need as many iPads as you have registers ($350+) and likely a Square Stand with a reader ($169) as well as any cash drawers, printers, and bar scanners you want for each device.

However, there is one caveat: Square for Retail provides employee management for an unlimited number of employees. With the standard Square plan, that cost is $5 per employee per month. So if you have 12 employees and one register, you actually break even on costs.

Shopventory’s pricing plan is focused not on the number of devices or the number of users, or even the number of transactions. Pricing is based just on the number of locations. There’s a limited free plan that provides analytics, but the paid plans start at a very reasonable $30/month.

Here’s what you can expect:

  • Starter ($29/month): 1 location, 1 year order history, 1 year reporting
  • Standard ($59/month): 3 locations, 2 years order history, 2 years reporting
  • Professional ($199/month): 10 locations, unlimited order history, unlimited reporting
  • Elite ($499/month): 25 locations, unlimited order history, unlimited reporting

If you want access to purchase orders, vendor management, and the bundling features, you’ll need to get the standard plan. The starter doesn’t support these capabilities at all. In addition, the higher-tier plans throw in a few other perks (free QuickBooks syncing, otherwise $30/month; access to beta features, phone support).

Keep in mind that you still need hardware and devices to run the Square app — and an iPad is the most full-featured option. But you could use Android tablets or smartphones too. You have a lot more options and no charge for using multiple devices at the same location. So at three locations, ignoring costs of hardware, you’re already saving $120 with Shopventory. (That’s the cost of 24 employee management subscriptions, by the way.)

You can also save a bit of money if you opt to pay for Shopventory on an annual plan instead of a monthly one, which is nice. I think designing an inventory system whose pricing focuses on locations is the smart option.

While I think Shopventory’s pricing is definitely better, I can’t say definitely that it’s the better value overall. For one, Square for Retail is optimized for businesses with very large inventories. And if you’re dealing with hundreds and hundreds of items you might prefer the search-and-scan based user interface that the app offers. But if you have a small inventory, or you’re not a retail business, and still want all the management tools? If you don’t care about the UI but want some of the Square POS features like offline mode or open tickets? It’s pretty obvious that Shopventory is the better solution. What’s right for you will depend on your priorities and your budget, so check out our complete reviews of both services before you commit to anything.

Web Hosted Or Locally Installed

Winner: Tie

Both of these solutions are web-hosted, which is awesome. Yay for the cloud! Don’t forget that you’ll also get some in-app reporting capabilities if you don’t want to log into a web browser, but they aren’t inventory driven, and they’re far more limited than using the web dashboard.

Customer Service & Technical Support

Winner: Tie

Apart from a small team on the Square Seller Community (a forum for online merchants), Square for Retail doesn’t have any exclusive support channels that are separate from regular Square support. So you should expect business as usual in this regard.

Square’s been plagued by complaints of shoddy customer service pretty much since the beginning. But honestly, I think most of those complaints are rooted in Square’s tendency to freeze or terminate accounts. For most technical (not account-related) issues, Square does seem to offer more reliable support. There’s email and live phone support, as well as a very comprehensive self-service knowledgebase. And the Seller Community is honestly a great resource as well.

But I find that the amount of information and how-to’s concerning Retail specifically to be troubling. There’s not a lot. Square has tons of videos but they seem to gloss over showing how to use the Retail app. If you want to know about specific features before you sign up, you should get on the Seller forum and ask. Otherwise, the only way to find out is to test-drive Square yourself.

Not only that, but it certainly seems like the process of obtaining a code to access phone support requires more effort than some merchants are willing to put forth. I get it. I loathe automated menus that make you jump through hoops to get to a real person as much as anyone else. And I’ve heard a smattering of complaints about email support. I think Square’s support is mostly good, but occasionally something does go wrong.

If you one of the merchants who’s felt frustrated at Square’s support, you’ll probably be pleasantly surprised at the quality if Shopventory’s. Phone support is only available for higher-tiered plans, but the chat option is great and the knowledgebase is extremely helpful as well. (I know. I’ve tested both.) The chat option isn’t quite live chat because it might take a few to get someone to answer your question, but once you get one of the reps to respond, it is a live conversation. I shouldn’t have to say this about any customer support, but sadly I do: I like that you get to talk to a helpful person who isn’t going to shoehorn you into a script.

Shopventory isn’t quite large enough to have the kind of active forum that Square has for support, but the knowledgebase is easily as detailed as Square’s. I find the video tour is super useful as an orientation to Shopventory, despite how much I absolutely hate watching video tutorials longer than about one minute.

It’s worth noting that you’ll still have to deal with Square for payment- and account-related issues if you use Shopventory. But for inventory-related issues, you can deal with Shopventory instead.

Negative Reviews & Complaints

Winner: Shopventory

At this point, merchants’ biggest point of contention with Retail is that in some ways is a step back from the standard Point of Sale app. A few features are lacking in the Retail app. Plus, I’ve seen complaints that features Square promised at launch (or at least showed in screenshots) haven’t actually appeared yet.

Some of the complaints about Square for Retail we’ve seen include:

  • Problems With Cost Of Goods Recording And Reporting: This is a big one and it manifests in a lot of ways. Currently, the only way to update costs is to upload a spreadsheet. The app itself doesn’t allow you to manually edit individual item costs, and Square’s current reports don’t list item costs on everything. Merchants who were expecting to finally get COGS reporting haven’t been thrilled, though Square does say it’s on their list of improvement to make, so we may see some enhancements.
  • Lack Of Features: Specifically, with Retail, you lose access to Square’s offline mode and the open tickets capability. You can upload images as part of the item listing, but they don’t display in the app. Merchants have complained about their removal. I haven’t been super thrilled about how Retail feels like a step back from the Point of Sale application in terms of interface and features, either. And one big missing feature that I’ve seen a lot of chatter about is the ability to auto-populate purchase orders based on low inventory (or even the ability to see the inventory count in the same window as the PO).

There’s a lot less user chatter about Shopventory overall (which makes sense with a smaller customer base). I think users who integrate with PayPal or Clover will probably be more dissatisfied than Square users, honestly. I think some merchants will dislike the same sort of shortcomings you find in Square for Retail: missing features like the ability to view inventory levels while creating a purchase order, or the ability to edit purchase orders. Overall, the comments I see from merchants are positive.

Positive Reviews & Testimonials

Winner: Tie

Square gets a lot of love overall for its payment processing. Signup is quick and easy, rates are fair and affordable, and the hardware is good and fairly priced. But the Retail app seems to be less popular overall. In theory, it fills a niche that businesses with a high quantity of inventory have been needing. I know a lot of merchants were excited at the prospect when it launched, but I haven’t seen as much talk about it since then.

I don’t see a whole lot of chatter around the web about Shopventory. The website has a couple testimonials and I’ve seen the Square Seller Community talk about it, too. The discussions I’ve seen a focus on the good customer service and its fair pricing.

I’m calling it a draw here. Both options are good ones and serve their purpose, but there isn’t enough of a discussion to say which one has more positive coverage.

Final Verdict

Winner: Shopventory

I can’t say definitely that Shopventory trounces Square for Retail in every regard. One is an inventory management add-on, the other is a full-fledged POS with inventory management. So I can draw apples-to-apples comparisons about some things and say that yes, Shopventory has more and better quality inventory features. Its pricing is way more competitive if your only concern is inventory tracking. It will work great as an add-on to Square Point of Sale.

But Square for Retail has a search-optimized UI and free employee management tools that might be deciding factors for some merchants. So you could potentially get a better value with Square for Retail if you have a lot of employees and want easy time tracking along with the ability to manage large inventories.

The good news is we’re looking at two companies that are both committed to adding new features all the time. So in six months or a year, we could be looking at two majorly improved products. We’ll have to see how they stack up then.

Check out our complete reviews for Shopventory and Square for Retail to get a closer look at each. Also, both Square for Retail and Shopventory offer free 30-day trials, so you can test drive both of them (preferably not at the same time) and see which one works better. Thanks for reading and good luck with your search!

The post Shopventory VS Square For Retail appeared first on Merchant Maverick.

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Best Shopping Carts For Global eCommerce

selling internationally

Online sellers are always looking to expand–expand their product catalogs, expand the reach of their marketing, and expand across sales channels. And when it comes to expansion, there’s no bigger project to undertake than international growth.

Successfully going global is only possible if you have the appropriate resources in the form of products, market, and software. And while finding a market and products is up to you, we here at Merchant Maverick can help when it comes to choosing the correct software.

International sellers demand more from their shopping cart setups than do domestically-based merchants. You’ll need your shopping cart to be able to display your site in multiple languages and currencies. What’s more, you’ll need to be able to handle complicated taxes and shipping functions. Your eCommerce software should either come with these features already built in or be able to integrate with extensions to fill the gaps.

In this blog, we’ll be discussing four carts that offer merchants the features (and integrations) they need to sell internationally. These software companies maintain a global focus, giving you multiple options for global success and staffing a diverse team of developers from all across the world. If you need the power to create a multilingual site — and a multilingual support team on hand at the moment’s notice — look no further than this list.

Keep reading to learn which eCommerce software programs we recommend for global expansion.

PrestaShop

prestashop logo

With PrestaShop, international is the name of the game. PrestaShop is behind 270,000 stores worldwide. They have headquarters in Miami and Paris and employ over 100 employees who are proud to speak a variety of languages.

PrestaShop is open-source software that is free to download, highly customizable, and offers loads of add-ons. With a strong international user community supporting the development of the software, you can expect new releases and extensions regularly.

PrestaShop’s biggest downfall is that you’ll need developer skills in order to best use the software. What’s more, PrestaShop’s customer support costs a bit more than you may be willing to spend.

PrestaShop comes with a robust feature set built in. Here are a few of the ways PrestaShop is especially good for international sellers:

  • Set Currencies & Automate Exchange Rates: Set your shop to accept a wide number of currencies.
  • Multi-language Product Sheet: Quickly import product information in multiple languages.
  • International Forum: Find support from other users in a variety of languages.
  • PrestaShop Translation Product: Users can assist in translating new versions of PrestaShop.
  • International Add-Ons: Purchase and download extensions from international developers to further broaden your store’s functionality.

For more information on PrestaShop, check out our full review or try one of PrestaShop’s easy-to-access demos.

WooCommerce

woocommerce logo

WooCommerce is one of the most widely used eCommerce solutions around. While the stats are uncertain (WooCommerce claims a part in 28% of all online stores, while BuiltWith says Woo is behind 42%), what is certain is that Woo is enormously popular in the eCommerce world.

WooCommerce is free, open-source software that plugs directly into WordPress.com. It is highly customizable and scalable. WooCommerce’s Achille’s heel, as with many open source solutions, is the unfortunate combination of limited customer support and a moderate learning curve. WooCommerce also follows a Core+Extensions model, which means that built-in features tend to be rather basic.

Despite these obstacles, WooCommerce is an excellent choice for international sellers. With employees located in 19 different countries, you’re sure to find support in a range of languages. And given the many international developers contributing to the project, international features are well within reach.

Here are a few of the international selling features that WooCommerce offers:

  • Calculated Taxes: Set tax rates for the countries and regions in which you sell your products. Show taxes based on your customer’s shipping address and billing address and your store’s base address.
  • Supports International Transactions: Accept multiple currencies with the right payment gateways.
  • WooCommerce Translation Project: Users help make WooCommerce available in multiple languages.

For more information, take a look at WooCommerce’s tips for selling internationally. Or, head over to our review and download the software for free.

Magento

magento logo

If you’re looking into open-source solutions, but our first two suggestions don’t quite meet the mark, you should take a look at Magento.

Magento is used by developers worldwide and supports a user base of 250,000 merchants. With such a wide base, the Magento marketplace is always growing. You can expect a steady release of new extensions and payment gateways from Magento’s global developers.

As an open-source software solution, Magento comes with similar advantages to PrestaShop and WooCommerce. The software is free to download, highly customizable, and scalable. Magento includes a robust feature set and boasts an international user community.

As you might expect, the trouble with Magento lies in its usability. In order to best utilize the platform, you’ll need to have confidence in your developer skills. The software comes with a steep learning curve, and there is no phone number to dial for technical support.

Regardless, Magento is a great shopping cart for merchants who are looking to expand internationally. Here are a few of the reasons you should consider Magento:

  • International Forum: Get help from a community of 150,000 developers. These developers can also help you create extensions that work for your target countries.
  • Extensions: Take your pick of a vast marketplace of extensions. You’ll find extensions for international payment gateways, currencies, and shipping carriers.

For more information on using Magento to sell globally, take a look at the company’s advice on making your site global ready. To learn more about Magento in general, head on over to our full review or get started now by downloading the platform for free.

Shopify

shopify logo

If you’re in the eCommerce industry, you’ve heard of Shopify. This Canadian SaaS solution is famous for its usability and clean design. And over the past few years, Shopify has skyrocketed in popularity. The platform now hosts over 500,000 stores worldwide.

Shopify is the only hosted solution we’ll be including in this list. In general, if you’re looking to build a website that reaches customers around the world, open-source is your best approach. With so much opportunity for customization and growth, you’ll likely find that an open-source solution better fits your international store’s needs.

However, like we’ve discussed, open-source comes with its own challenges, including limited usability and technical support. And so, if you want to take a global approach but aren’t sure you can handle the technical challenges of open-source, Shopify may be the way to go.

Here are a few of the international selling features you can benefit from as a Shopify user:

  • Multi-lingual Checkout: You can set your checkout to operate in over 50 languages. You’ll need to translate the rest of your theme on your own.
  • Non-US Taxes: Set up tax rates for other countries. You can also set your store to charge taxes on shipping rates.
  • Numerous Payment Gateways: Take your pick from over 100 payment processors in order to accept payments worldwide.

For more information on Shopify, take a look at our full review or get hands-on experience by signing up for a free 14-day trial.

Final Thoughts

Hopefully, one or more of these shopping cart options has piqued your interest. As always, I encourage you to take your research further. Read our full reviews, look up comments from current customers, and take advantage of every trial and demo you can get your hands on.

You might also read our article, The Most Important Questions To Ask Before Shipping Internationally, and download our free eBook, The Beginner’s Guide To Starting An Online Store. In this fifty page guide, we unpack everything you need to consider as you approach online selling.

But for those of you who are already planning your global expansion, I wish you the best of luck and bon voyage!

The post Best Shopping Carts For Global eCommerce appeared first on Merchant Maverick.

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How To Find A Startup Grant

business grants

Startups are inherently risky endeavors. According to Fortune Magazine, close to 60% of new startups fail. Because new businesses are so risky, it is notoriously difficult to obtain startup financing — most banks won’t lend to you unless you’ve been in business at least two years. While some online lenders offer startup loans, startup grants are another option for new business financing. A startup grant is even harder to get than a startup loan, but grants are more desirable because you don’t have to pay the money back.

Want a shot at a startup grant? Follow these steps to find a business grant you might qualify for.

1. Determine Whether You’re Grant-Worthy

Generally, only certain types of businesses qualify for startup grants. If your biz doesn’t fall into one of these categories, it’s unlikely you’ll qualify. For example, while there may be grant money for an innovative hardware manufacturer, when it comes to a run-of-the-mill hardware store…eh, not so much. Then again, if you face the significant hurdles of having a female-owned hardware store opening up shop in an economically distressed region, it’s a lot more likely that a private or public entity might want to give you some free money.

Read my post Do I Qualify For A Startup Grant? to determine if your business falls into one of the industries likely to qualify for startup grant funds. If not, you might want to start considering other alternative financing options, such as crowdfunding.

2. Start Local

City and township governments, business associations, and nonprofits in your immediate region are good places to start looking for grants. Even if you determine that your business doesn’t fit into one of the “grant-worthy” categories I mentioned above, you might be eligible for a grant if you’re starting a business in a certain city or region. For example, the Arch Grants organization awards grants to new businesses in the St. Louis area. There are not too many of these sorts of grants, but it’s always worth checking.

Be sure to scan city, county, and state websites for grant opportunities, as well as your local Chamber of Commerce. If you’re willing to relocate, you can also check local business grant opportunities in the city or cities you’d consider moving to.

3. Search Your Niche

If you can’t find any grant opportunities for businesses in your area, you can search grants by niche; that is, by your particular industry or business type. Your startup may fall into multiple niches — for example, your business may be veteran-owned and also a clean-energy business. Simply searching a phrase like “business grants for green construction” or “grants for home daycare” may deliver results tailored to your specific business niche.

Sometimes grants are for a particular niche and also a particular region. A couple examples of niche business grants include the Halstead Grant for new silver jewelry designers living anywhere in the US, and the Green Technology Business Grant Program for green technology startups in Cleveland, Ohio.

4. Go Corporate

Several large corporations offer business grants or host some kind of small business contest where the best businesses can win free money. These grant programs are highly publicized and thus highly competitive, but they might be worth looking into. FedEx, Miller Lite, and Visa are a few corporations that award business grants; Miller Lite’s grant contest is especially aimed at startups.

Even some popular business lenders offer business grant contests. Veteran-owned businesses, for example, should look into StreetShares‘ annual business contest for veterans.

5. Look At A Federal Level

Small businesses can potentially find grants they are eligible for on Grants.gov, the one-stop-shop for government grants. However, you should know that the vast majority of these are medical research grants. Also, even if you’re eligible for one of these prized federal grants, you’ll likely be competing with nonprofit organizations, and even city and state governments. The reason I listed federal grants last is that there are few, if any, federal grants a typical startup business would be eligible for.

However, at least a couple federal grants are aimed at innovative small businesses, and these are Small Business Innovation Research (SBIR) grants for high-tech businesses involved in scientific research & development. The InnovateHER grant contest is for businesses that benefit women and children.

This blog post on the SBA website explains a little more about US government grants and how most are not really aimed at for-profit businesses. If you want some government help in funding your small business, you might want to look into a Small Business Administration (SBA) loan. These loans are low-interest and relatively easy to apply for if you use an online SBA lender like SmartBiz.

Final Considerations

Once you find a list of startup grants you’re eligible for, the next step is to start preparing your grant application package. The application process is slightly different for each type of grant, but usually you will have to submit a business plan and Request for Proposal (RFP). For a large grant, you might even consider hiring a professional grant writer, though this probably wouldn’t be feasible or necessary for a grant contest where you only stand to win $2,000-$5,000, even after beating out thousands of other applicants.

The last thing I’d recommend to anyone searching for startup grants is to review startup grant alternatives, such as small business loans or alternative business financing options like P2P loans or equipment financing. If you have any questions about startup loans or alternative business financing, feel free to email us or ask in the comments!

The post How To Find A Startup Grant appeared first on Merchant Maverick.

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How to Improve Your Website Content

How To Improve Website Content

So your website is a mess — where do you even begin to “fix” it? What does “fixing” it really mean, anyways?

If you’re looking to improve your website, you know how daunting this overhaul can be. There are tips and tricks for almost every facet of the process, from improving your copy to reworking your design.

What you need is a process — not a grab bag of tips that leave you more confused than when you started.

Here’s the 7-step framework you can follow to improve your website content, even if you have no idea where to start.

1. Lay the Foundation

It may sound basic, but before you change anything on your website, you need to understand what your website does. You can have the most amazing site in the world, but if you don’t know what you want it to achieve, you’ll never really improve.

The first step is pretty straightforward — you need to define the goal for every single page on your website.

Each site page has a unique objective. For example, your homepage should encourage visitors to explore deeper into your site, a blog post may be key to generating new traffic, and a product page necessary for sales.

By understanding each page’s goal, you can begin to understand where things may be breaking down.

Start by putting your website into a map. List all of the pages you currently have, then define the goal for each page.

Once you have your page objectives down, it’s time to look at how your website fits together.

Think of your site like a puzzle. Each individual page is a piece of a larger picture. The pages all work together to create one big image (which is your user experience).

Your website’s organization should be intuitive for someone who is trying to navigate it. You don’t want a visitor to arrive at your homepage and be stranded, nor do you want them getting lost. Imagine how frustrating it is when you’re on a website and can’t get to the information you’re searching for.

Use your map to organize your website’s flow. Which pages are subpages of a larger section? Which pages need links to others? Note those in the spreadsheet, or use indentations to show how they connect.

Title Tag Keyword Map

2. Understand Your Users

Understanding your users is marketing 101, but it’s crucial for creating a website that achieves your goals. If you have the most amazing website, but it’s not tailored to the type of visitors you want and need, what good is it?

Before you rework your website, you need to understand who your audience is. Are they CEOs of small businesses? Are they local companies?

Who are they, and what problems do they have? How are you helping them solve these problems?

Create a persona for your website users.

A “persona” is marketing jargon for a profile of who you are really trying to do business with.

Write out one that describes your ideal customer. Be as descriptive as possible by including things like job title, favorite device, payscale, main frustrations and problems, end goals, what they do in their spare time, etc. Use Moz’s guide to user personas to guide you through the process.

3. Understand Your Data

One of the best parts about the internet today is nearly everything is recorded. This means you have access to an incredible amount of data that can paint the picture of why your website isn’t working.

Once you know who your audience is, it’s time to dive deeper into how they’re experiencing your website right now.

Google has one of the most intuitive platforms for work like this. Take some time to use Google Analytics to figure out where your audience is getting hung up on your navigation. Look especially at the Behavior Flow section to see where users are dropping off.

Google Analytics Behavior Flow

But remember that you have access to TONS more data. I’ve written guides to –

  • Ahrefs
  • Search Console
  • Website Data
  • Bounce Rate
  • Improving Ad Campaigns

Create a column in your spreadsheet dedicated solely to “optimizations”. Use your data to evaluate each existing page and note any breakdowns or opportunities. For example, are you noticing a high drop off on a page that’s bringing in significant traffic? Write it down next to that page.

4. Do Keyword & Topical Research

Keyword and topical research are crucial to understanding your audience’s interests and how they search online. By implementing the same sort of language your audience uses while searching the web, your site will not only perform better organically, but will resonate with your target audience and remain relevant.

For your existing content, you can use Google Search Console to see where you can optimize pages that already have some visibility for specific search terms. Use it to determine where you can adjust a page to capture more organic traffic, expand on a certain topic, or update outdated content. It will also flag HTML issues such as duplicate content and titles and meta descriptions that need improvement. You can get the full guide to using Google Search Console here.

But what about the pages that aren’t already getting traction? For those, you’ll want to do additional keyword and topical research. I’ve put together a step-by-step process to using keywords on your site, which you can use to walk through the process of finding and implementing user language on your site.

As you go through the research process, create a keyword map for your entire website to add words and topics for each page. You can add it to your existing spreadsheet so all of your information is in one place.

5. Find Content Gaps

You can’t improve what doesn’t exist, Once you have a handle on what’s going on with your existing content, it’s time to dive into what’s missing from your website.

From a user’s perspective, what’s missing?

Start by doing internal research. If you have a sales or customer service team, ask them what questions they’re getting. More importantly, look at your own internal site searches! This tells you exactly what people are searching for on your site (because they can’t find it).

Google Analytics Site Search

Also comb through your email and see what people ask when they contact you about your business. Chances are, those questions are missing information on your website, and you can add them either as a new page or as an FAQ page.

After you’ve taken a look at your own internal sources, it’s time to take a look at outside data. Use tools like Ahrefs to help you find what industry publications and competitors are getting right (use the full guide to Ahrefs to help you get the most out of the tool). Look especially for content with significant backlinks and organic traffic to see what type of content is in tune with your target audience. Then, add the missing pages and their corresponding keywords/topics to your website spreadsheet/map.

6. Address User Experience

Improving your website isn’t just about improving the content — it’s also about improving the experience visitors have on your site (also known as user experience).

You can have all of the right information, but if the website is slow, looks funky on their mobile device, or has a horrible design… you can bet users aren’t going to stick around.

There’s so much that can create a poor user experience — a bad design, broken links, a slow page load speed — it’s your job to find these negative elements and remedy them.

Start by evaluating your website design. Do you have a cohesive color palette? Are your images high quality? Does your website scale for tablet and mobile devices (also known as responsive in web jargon)? The visual appeal is going to be key in keeping users enticed and engaging with your content.

Next, dive into the mechanics. Start by testing page speed with Google’s PageSpeed Insights tool. If you’re seeing low or below average speeds, use this beginner’s guide to increase page speed to help fix it.

Make sure you use correct HTML formatting. Make sure your design values function over form (don’t use trendy bullsh*t like Parallax unless you value design awards over sales).

You’ll also want to check for broken links. To make sure none of your internal links are rendering a 404 page, use Screaming Frog to do a scan of your site’s pages. If you are specifically looking for Googlebot 404s, you can check your Search Console report.

7. Evaluate Your Copywriting

Now that you’ve addressed the mechanics and make-up of your site, it’s time to focus on the flair — otherwise known as the actual copy on your website.

As with all the of the elements in this guide, good copywriting (when combined with other website best practices) can lead to more traffic, better leads, and more sales.

Take a look at each page and determine where your content can be spruced up. Where can you use images instead of text? Where can you add more of your brand personality? Where can you break up paragraphs so the page is easier to skim?

Use this guide on how to improve website copy to help you evaluate your site copy. Choose three areas where you can improve, then go implement it!

Next Steps

Improving your website content can be a daunting task with no clear starting point. Using a grab bag of tips and tricks doesn’t get you any further — in fact, it can leave you feeling lost.

Instead of hopping around and fixing things at random, put a plan in place that takes you through each phase of the process in a methodical manner. Use the steps above to help guide you, and make sure you focus one one step at a time.

By following a plan and sticking to the process, you’ll be well on your way to overhauling your website to create one that helps grow your business (without feeling completely overwhelmed!).

The post How to Improve Your Website Content appeared first on ShivarWeb.

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Choosing An American Express Corporate Card

American Express Website Menu

Unlike their small business counterparts, corporate cards are highly customizable. When it comes to Visa and Mastercard, your corporate card benefits will largely be based on the arrangements you make with your bank. American Express, however, directly issues corporate cards, so you can do more comparing upfront than you otherwise could with a Visa or Mastercard.

How Do Amex Corporate Charge Cards Work?

For the most part, corporate cards are scaled-up versions of Amex’s personal and business credit cards, tailored to meet the needs of a larger business. To get a corporate card, your company will need to be formally incorporated as an LLC, S-Corp, or C-Corp. It will also need to have good credit and do over $4 million in revenue annually.

Be aware that Amex’s rewards system works a little differently for corporate cards. You won’t automatically be enrolled in the Corporate Membership Rewards program. You’ll have to sign up for the program and designate a primary account as the Master Program Administrator (MPA). The MPA can then designate up to five corporate cards for the program, including their own as program administrator (PA). These cardholders will have permission to redeem rewards. Three more cardholders can be designated as offline redeemers; these people can redeem points for certificates, gift cards, statement credit, and pay-with-points through telephone request only.

Up to 98 cards in total can be enrolled in a single Corporate Membership Rewards program. Unlike business and personal cards, there are no reward tiers. You spend $1, you get 1 point. The redemption value of a point varies depending on how you spend your rewards. For example, 20,000 points translate to a $100 statement credit ($0.005 per point).

Now that we know how American Express corporate cards work on a basic level, let’s compare some specific corporate cards.

American Express Corporate Platinum

The prestige charge card of the Amex brand has long been Platinum. Like its personal and business counterparts, the Corporate Platinum card is centered around international travel and resort stays.

American Express Corporate Platinum
Annual Fee $395/card
APR N/A
Corporate Membership Reward Cost Per Card $0
Visit Site

If you like the Amex Platinum perks and have the annual revenue to qualify, the Corporate Platinum card is actually the cheapest version, at least on a per card basis. The personal and business cards come with annual fees of $550 and $450, respectively. Of course, $395 per card can add up pretty quickly, so you probably won’t be handing one of these to every employee in your organization.

Each employee with a Corporate Platinum card will enjoy the following perks:

  • Lounge Access: Access to all locations of The Centurion Lounge. Access to Delta Sky Clubs, Priority Pass Select, and Airspace Lounges.
  • $100 Airline Fee Credit: Amex will reimburse the cardholder up to $100/yr. for incidental flight charges with a qualifying, selected airline.
  • Fine Hotels & Resorts Program: Members who pay in full with their Platinum Card receive complimentary upgrades and services at participating locations, subject to availability. This includes things like in-room Wi-Fi, breakfast amenities, room upgrades, and noon check-ins.
  • Fee Credit For Global Entry Or TSA Prev: Cardholders get one statement credit per four years for an application fee charged to the card.

American Express Corporate Gold

If the Corporate Platinum card is meant to keep the globetrotting, pampered executive in style, the Corporate Gold card is more oriented toward helping workers stay productive on the road.

American Express Corporate Gold
Annual Fee $125/card
APR N/A
Corporate Membership Reward Cost Per Card $90
Visit Site

You can get three Corporate Gold cards for the price of a single Corporate Platinum card, so it’s a good choice for frugal corporations that want to reap Amex travel benefits for a large number of employees without breaking the bank. Unfortunately, you’ll have to pay a surcharge on each card you enroll in the Corporate Membership Reward program. If you also factor in the $100 airline credit you get with the Platinum Card, the savings you’d get from going with the Gold Card evaporate pretty quickly. On the other hand, you may prefer the a la carte approach to your benefits.

Each employee with a Corporate Gold Card will enjoy the following perks:

  • Fee Credit For Global Entry Or TSA Prev: Cardholders get one statement credit per four years for an application fee charged to the card.
  • Boingo American Express Preferred Plan: Complimentary, unlimited Wi-Fi access at Boingo hotspots. You’ll also give five in-flight internet passes each year.

American Express Corporate Green Card

The Corporate Green Card is marketed toward occasional travelers and core employees. You won’t find a ton of frills here, but the Green Card may align with certain spending strategies.

American Express Corporate Green
Annual Fee $55/card
APR N/A
Corporate Membership Reward Cost Per Card $90
Visit Site

The Corporate Green Card’s benefits are pretty sparse and enrolling in the reward’s program ends up being more expensive than your annual fee, so you’ll probably only be passing these out to streamline your employees’ travel expenses.

Each employee with a Corporate Gold Card will enjoy the following perks:

  • Business Travel Accident Insurance: Covers flights, cruises, train, or bus travel charged on the card
  • Baggage Insurance: Covers lost, stolen, or damaged baggage on flights, cruises, trains, or bus trip charged on the card.

American Express Business Extra Corporate Card

The Business Extra Card is specifically focused on corporations that use American Airlines and its partner carriers.

American Express Business Extra Corporate Card
Annual Fee Up to $55/card
APR N/A
Corporate Membership Reward Cost Per Card N/A
Visit Site

Unlike the other three cards we’ve covered, the Business Extra Corporate Card comes with its own rewards program and is ineligible for the Corporate Membership Reward Program. If you don’t mind sacrificing the flexibility, it offers some nice perks at a low cost.

Each employee with a Corporate Gold Card will enjoy the following perks:

  • American Express Busines Extra Rebate: 1% – 4% rebate on the first $1.5 million spent on qualifying American Airlines flights.
  • Business Extra Reward Program: Your cards will be enrolled in this reward program. You’ll also get four points for every $20 spent on eligible American Airlines flights and one point per $20 spent on other eligible purchases.
  • American Airlines Flight Discounts: $50 discount for every $5,000 of eligible purchases, up to a maximum of $1,000 in discounts each year.

Final Thoughts

American Express’s Corporate Card offerings provide several different ways for large corporations to optimize their travel spending. Since they’re mostly just scaled-up versions of existing cards, smaller businesses that grow into larger corporations may find it easy to transition from business to corporate class cards.

Not big enough for a corporate card? Check out our comparison guides to business credit cards, charge cards, and personal cards that are good for business expenses.

The post Choosing An American Express Corporate Card appeared first on Merchant Maverick.

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Top 3 Project Management Apps For Construction Firms

 

Project managers are often stereotyped as office stiffs with permanent stacks of Stick It notes in their back pockets, quietly and heroically keeping the wheels on the bus going round and round. However, real humans do not fit easily into stereotypes — and this one is simply too narrow to stand up to even mild scrutiny. After all, all kinds of fields have projects to manage, and many projects take form far from an office building.

For example, project managers based in the construction industry need a powerful suite of tools at their disposal: communication with contractors and clients, document storage, scheduling apps, and more. Beyond that, individual construction workers need features for time tracking, task management, schedule reminders, and communication. With that in mind, we’ve compiled a list of the three best project management apps for construction workers.

But first, some criteria. To work well for construction projects, task management apps need scheduling and document sharing features, a simple and flexible UI that works well on the go, and, of course, an affordable monthly cost. Read on for a comprehensive look at the following three apps — the best of the best when it comes to construction project management.

Monday.com

Unlike the other two apps we will be covering, Monday.com (formerly dapulse) is not a bespoke project management app. It does, however, meet all of our criteria handily. Let’s start with the price.

Monday.com is not the cheapest project management app I have ever covered. It is, however, entirely competitive and reasonably priced when compared with other, similar applications. There are a number of pricing plans ranging from “basic” to “enterprise.” The lower-priced plans (especially the “standard” plan, which grants 50 GB of storage) all provide the most valuable features of this product and come down to less than $10/user/month if you have 50 or more employees. If you don’t want to worry about managing your storage space, you might want to spring for the “Pro” plan, which comes with unlimited file storage. You do, of course, pay extra for the storage, with the price coming down to around $12/user/month on that plan.

In terms of features, Monday.com ticks all of our boxes for construction. You get file storage (how much depends, of course, on your subscription level), scheduling, and communication with both team members and clients. The Gantt chart (or timeline) is particularly good; adding items to the chart and assigning them to team members is easy and making modifications to the schedule is as simple as clicking and dragging. If I had one complaint or reservation about Monday.com’s feature set, it would be that the timeline has no dependencies; the addition of this feature would make this app incredibly well-suited to construction work.

Monday.com boasts an extremely well-designed, highly unique, UI. That said, I test a lot of project management programs, so I was thrown off for a moment by the one-term-for-everything philosophy of this app. Basically, everything you do in Monday.com comes down to ‘Pulses.’ You can assign team members or clients to a pulse, add deadlines, send messages, and even create hashtags for pulses. This methodology required an adjustment period for me, accustomed as I am to the more common “task-list” format of Monday.com’s competitors. Fortunately, I think that users that are new to project management applications will not find pulses as flummoxing, especially with the help of some good onboarding training.

Overall, If you are looking for a flexible, simple, and robustly-featured solution to your construction project management needs, I would encourage you to check out Monday.com and give the free trial a shot.

CoConstruct

CoConstruct, unlike Monday.com, is a custom-built app for construction firms. Everything about this brand is construction-focused, from the name of the application itself to the marketing and support materials on the company’s website. And this seems to be a winning formula. In fact, CoConstruct is most highly reviewed construction project management app on Capterra.

Unfortunately, CoConstruct does not make their pricing options transparent. The closest thing they have to a standard price “list” is a short reference to the fact that prices “start at only $99/month.” There are references to other plans, but you must contact CoConstruct directly to get concrete details. Fortunately, with prices starting out relatively low (assuming you have 30+ employees), it seems likely that you will be able to get higher-level plans without breaking the bank.

CoConstruct is a very full-featured program. The company breaks down its feature set into three categories: COmmunicate, COordinate, and COntrol. It is a pretty snazzy way to describe what this application can do.

The COmmunicate field deals with internal communications between employees and clients. This section of the application can handle estimating, bidding, proposals, and expense tracking. Crew members can even upload pictures from job sites to confirm completed work or detail potential issues.

The COordinate section of the app handles scheduling, task lists, time tracking, and more. I want to particularly highlight the time-tracking features, which function similarly to those of Tsheets (read our review) and Timely (read our review). It is cool to see features from other apps folded into this one; that represents saved money and time for you, the customer.

The final section of CoConstruct, COntrol, is all about financials. This covers, of course, the proposals, bidding, and estimates I mentioned earlier, but also long-term budgeting and an excellent Quickbooks (read our review) integration.

Most importantly, CoConstruct is easy to use. I have to admit, when I first looked through some of the screenshots from this app, I was worried. A few parts of the UI are pretty outdated, which in my experience can translate to a steep learning curve. Fortunately, in CoConstruct’ case, I was wrong. Yes, certain elements of CoConstruct’s UI are not exactly breathtaking, but most of the app is well-designed and solid. I especially like the mobile apps, which allow crew members and foremen to easily keep track of their tasks, communicate with clients and subcontractors, and more.

While it is a little annoying that CoConstruct keeps some things hidden until you reach out to them directly (like their pricing), in the end, their high customer satisfaction rate is entirely justified. If you are looking for a comprehensive project management solution for your construction business, this may be the one for you.

Buildertrend

Considering the fact that it has users in over 40 countries, awards from reviewers, and over one million projects completed from within the app, it’s easy to see why Buildertrend refers to itself as an industry standard for construction project management. With features that cover commercial construction, remodeling, and homebuilding, this app is designed to be your one-stop-shop for managing tasks, projects, and more.

Buildertrend’s pricing system, funnily enough, reminds me of CoConstruct’s. Like that program, Buildertrend starts at $99/month. We get a few more details with Buildertrend, however, including confirmation that this price includes unlimited users. That is fantastic, and it means that larger companies will find greater value using this app. On a less positive note, the baseline price only includes one project; if your firm handles multiple sites at one time, you will need to shell out the extra cash for more projects. Having said that, Buildertrend takes pains to assure users that adding another project does not double the price; it seems that the more projects you buy, the less you pay per project. Just like it should be! Note that there is no free trial; if you choose to buy Buildertrend, you will have to do so without directly testing it first. Fortunately, there are plenty of in-depth videos to help give you an idea of exactly you will be paying for.

Buildertrend’s extensive feature set is divided into four categories: “Pre-Sale Process” features, “Project Management” features, “Financial Tools” features, and “Customer Management” features. There are 21 individual items within these categories, so rather than trying to explain everything here in this limited space, I want to point out some of my favorites.

First things first: One of those pre-sale features includes email marketing. I love it when apps combine features from other kinds of software into one place because it means that you, the user, are getting a more streamlined experience for a lower price. While the email builder is definitely less snazzy than some of the dedicated email marketing apps out there, it does the job well.

In terms of project management features, one of my favorites is the document markup tool. Need to make a change to a blueprint? Mark it in the document. Want to make sure a particular detail gets noticed? Highlight it in the document.

The last thing I want to highlight in terms of features comes from the customer management section. When decisions about color, style, and more need to be made, you can send your customers their options so they can quickly and easily get back to you.

Buildertrend is surprisingly simple to use, considering the number of features available. The best part of this is the full-featured mobile app. And I do mean full-featured– all 21 features are directly accessible from within the app and can be used on the go. Very few project management platforms make everything usable on the go, and it says a lot about the priorities of the team behind Buildertrend that they have gone that route. In an industry that is all about being out in the field, it seems like a wise choice indeed.

If you are looking for a full-featured, flexible, and easy-to-use project management app for your construction firm, I highly recommend heading over to Buildertrends website and checking them out.

Final Thoughts

If I had to pick one of these three apps, I think it would have to be Buildertrend. I like that they focus on serious, thorough, construction-focused project management without losing accessibility. CoConstruct is very similar, but I think Buildertrend is just a bit more usable. Having said that, it may just come down to personal preference regarding which one of these three you choose.

If you are working with a small team, Monday.com might be your best bet. If you represent a larger company, CoConstruct or Buildertrend might be better fits for you. Regardless, one of these apps will certainly provide you the tools you need to get out there and get building.

The post Top 3 Project Management Apps For Construction Firms appeared first on Merchant Maverick.

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A Guide To Choosing The Best Corporate Credit Cards

Man hands over credit cards for payment

It’s not hard to find articles that compare personal or business credit cards. But where are the ones comparing corporate credit cards?

At the corporate scale, you aren’t usually dealing with pre-designed deals and packages. If you’re big enough to qualify for a corporate account, your business likely has complex and very specific needs. The arrangements you make with your issuing financial institution will probably be unique to your company.

As you can imagine, this makes it very difficult to definitively rank corporate cards. Two businesses may get a corporate card from the same bank and have significantly different terms on their card.

Since we can’t tell you which card is the best for your particular situation, we’ll look at the factors that you should keep in mind when you’re evaluating your corporate credit card offer.

What Are Your Responsibilities?

Most corporate credit cards will require your company to meet some prerequisites to obtain and keep a card. These usually include:

  • Earning over $4 million in revenue annually
  • Opening a minimum number of cards on the corporate account
  • Paying any applicable annual fees

You’ll want to evaluate the costs of the annual fee, which typically consists of a base fee and an additional per card fee. While these fees won’t break the bank for a company earning over $4 million, you don’t want to have to pay more than necessary for the perks you receive.

Who Is The Credit Card Provider?

Visa, Mastercard, and American Express all offer corporate credit cards.

As is the case with personal and small business cards, Visa and Mastercard don’t issue the cards directly, instead selling their services to banking institutions, which in turn issue you a corporate card. Some of the benefits offered by your card will be common to all Visa or Mastercard corporate cards. These include things like auto rental coverage and aspects of your customer service. Overall, the banking institution you choose will be a bigger factor for what services you receive than whether your card is serviced by Visa or Mastercard.

American Express, on the other hand, directly issues their cards. Amex corporate offerings will be more familiar to you if you’ve ever perused their personal and business credit cards. In fact, you’ll notice that their corporate cards are largely scaled-up versions of their personal and business credit cards — there’s a corporate Platinum Card, for example.

How Does The Auto Rental Collision Damage Waiver Work?

Commercial vehicle rental coverage is offered with most corporate cards. This is usually offered through the credit card company itself rather than the issuing bank.

These programs will usually cover collision and theft of the vehicle, but not necessarily any contents within the cars. There are restrictions on what types of vehicles are covered and under what circumstances. For example, Visa will cover SUVs, but only so long as they are road-safe.

You’ll also want to know how the coverage works both within the United States and internationally. Again using Visa as an example, your damage waiver will function as primary coverage when you’re out of the country and secondary while you’re within. Secondary insurance policies pick up fees and charges that your primary policy does not.

Look over the fine print of your policy, or better yet, have your accounting team do it so that you’ll be able to create guidelines for how your employees should use their coverage to rent vehicles.

How Is The Rewards Program Set Up?

Though they’re not as big of a selling point for corporate credit cards, rewards programs can still add value to your account by returning a percentage of your expenditures back to you as cash, statement credit, gift cards, flyer miles, or points you can spend through other reward programs.

To get the most out of your reward program, you’ll want to know what types of expenses your employees will be putting on their corporate cards. If they’re concentrated in a particular area — like travel expenses — you’ll want a reward card that reimburses those expenses at a high rate.

Do You Want To Make Individual Or Company Payments?

Because corporate cards are meant to be used by multiple employees, there are two different ways to set up your payment systems. You’ll want to be sure your bank offers the setup of your preference.

One configuration is to have the company directly pay the balance on all of the cards. In this case, you’ll probably want to design a policy to determine what types of expenses the cards can be used for.

The other is to have your employees each be responsible for their own cards and then submit expense reports so the company can reimburse them for qualifying expenses.

In both cases, you can work with your issuer to set spending limits.

Final Thoughts

While you can’t directly compare corporate cards the same way you can compare small business and personal cards, you can approach the negotiations with a firm sense of what features and services you want your issuer to offer. Since you’ll be setting policies for employee usage, you’ll want to be able to clearly define when the cards should or shouldn’t be used.

If your business isn’t up to the corporate scale yet, but you’re still looking for a card, check out our small business, personal credit, and charge card guides.

The post A Guide To Choosing The Best Corporate Credit Cards appeared first on Merchant Maverick.

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The Best Specialty Crowdfunding Sites

specialty crowdfunding

By now, if you keep up with developments in the business world (or if you’ve had to raise funds for a loved one in need), you’re likely familiar with crowdfunding giants like Kickstarter (see our review), Indiegogo (see our review), Patreon (see our review), and GoFundMe (see our review). The biggest crowdfunding platforms also tend to have the most marketing resources at their disposal, so it’s little wonder if you’ve heard of them and not their smaller competitors.

Big crowdfunders have their places, but it’s high time some of smaller, more specialized crowdfunding sites out there got a little attention. Many such platforms are aimed at a particular slice of the crowdfunding market and may be better suited to your particular cause than some of the more general-purpose crowdfunders.

Let’s explore some of the specialty crowdfunding sites that can help you raise money for your distinct needs.

Small Business & Startup Crowdfunding

Fundable

fundable

Fundable (see our review) is a business crowdfunding platform with a particular appeal to small businesses and startups that have exponential growth potential. With Fundable, a company can launch a rewards crowdfunding campaign or an equity crowdfunding campaign…or even both!

Fundable won’t let you run a rewards campaign and an equity campaign simultaneously, but if you play your cards right, you can use a successful rewards campaign to demonstrate the strength of your startup to investors and begin a successful equity campaign. (Read my article on the differences between equity crowdfunding and “traditional” crowdfunding for more information.)

Fundable is more exclusive than many other crowdfunding platforms and must approve your Company Profile after you’ve finished filling out your company information on their site.

Fundable doesn’t charge a percentage of what you raise as a fee, departing from the practice of such crowdfunding platforms as Kickstarter and Patreon, which charge 5% each. Instead, Fundable charges a flat rate of $179/month. For the underresourced startup, this monthly fee is a substantial barrier to entry — particularly as the fee must be paid regardless of whether your campaign is successful. For the small business that expects success, however, this fee policy can be a boon. Consider the startup that successfully raises $50K in a 60-day campaign. $358 is a lot less than $2,500 (5% of $50K)!

You will, however, have to contend with payment processing fees. For its rewards campaigns, Fundable takes 3.5% + $0.30 of each transaction to cover payment processing. There are no such fees associated with Fundable’s equity campaigns because those campaigns do not involve online payment transfers — all payments are made offline.

Like Kickstarter, Fundable has an all-or-nothing funding policy. If you don’t reach your funding goal by the time your campaign ends, you don’t get anything. Something to keep in mind!

Wefunder

wefunder

Wefunder (see our review) is another crowdfunding platform that specializes in business funding. Unlike Fundable, it is exclusively an equity crowdfunding site. And while Fundable’s equity campaigns only allow you to fundraise from accredited investors (a term that essentially refers to rich people), Wefunder’s equity campaigns take advantage of Title III of the Jobs Act of 2012 to offer equity crowdfunding for non-accredited investors (often referred to as Regulation Crowdfunding). What this means is that Wefunder lets you raise equity from anybody and everybody, just as you can raise money from anyone with rewards crowdfunding.

Wefunder is the largest Regulation Crowdfunding platform in existence, currently comprising 50% of the market share.

Wefunder takes a more relaxed approach to letting companies use their platform than does Fundable. Wefunder doesn’t do any prescreening, so there’s no initial bar to clear. Once you’ve started, Wefunder charges an initial non-recurring fee of $195 to launch your funding campaign. They then charge, in their words, “up to a 7% fee” of what your raise in a successful campaign. Conducting a Regulation Crowdfunding raise with Wefunder means accepting this relatively onerous fee policy. Payment processing fees are paid by the investors.

Like Fundable, Wefunder’s crowdfunding campaigns employ the all-or-nothing funding model, so if you take your business fundraising idea to Wefunder, you’d better have a detailed plan of action and the means to follow through on it. If your campaign doesn’t live up to its billing and you don’t reach your goal, no funding for you.

Medical Crowdfunding

When it comes to crowdfunding to pay for medical expenses, GoFundMe receives the lion’s share of attention. A recent NerdWallet study found that $930 million of the $2 billion raised on GoFundMe during the time period studied went towards medical campaigns. However, as I documented in my GoFundMe review, quite a few campaigners have had serious issues with the company and its practices. Let’s take a look at some GoFundMe alternatives for those Americans (curiously enough, it’s just about always Americans) seeking to crowdfund their medical expenses or those of a loved one.

YouCaring

Of all the crowdfunding platforms focused on human need, YouCaring is probably the most well-known of the non-GoFundMe crowdfunders. How does YouCaring stack up?

GoFundMe recently garnered some good press by eliminating its 5% platform fee for campaigns based in the US and Canada. YouCaring does them one better: Its campaigns have no platform fees no matter where the campaigner is based. Both platforms do, however, take 2.9% + $0.30 out of each donation to cover the cost of payment processing while asking donors to voluntarily contribute money to the platform to help keep it going.

One thing that comes across when perusing user reviews of YouCaring is that its customer service is second to none — the level of responsiveness described is unusual for a crowdfunding site. YouCaring offers real-time chat support and personalized coaching that helps guide users through the crowdfunding process.

YouCaring has facilitated the raising of $900 million since its founding in 2011, so it has an established track record of success. The site is definitely worth exploring if you or someone close to you needs help with medical expenses.

GoGetFunding

GoGetFunding is another crowdfunding platform focused on personal crises like medical episodes (though they let you crowdfund for any and all causes). You can raise funds in 23 currencies with GoGetFunding.

In one respect, however, GoGetFunding has fallen a bit behind the times. In its FAQ, GoGetFunding proclaims that its platform fee of 4% is “lower than all of our major competitors.” Now, this may have been true when written, but it is no longer true. If you take a trip down memory lane, you’ll recall that I mentioned that YouCaring and GoFundMe have no platform fees. (With all due respect to GoGetFunding, 4% is not lower than 0%.)

Beyond the 4% platform fee, 2.9% + $0.25-$0.30 per transaction is taken by the payment processor — roughly the same payment processing fees as GoFundMe and YouCaring.

Anyone choosing GoGetFunding over its immediate competitors is accepting the 4% fee, so let’s see what you get for that money. GoGetFunding lets you add team members to your crowdfunding campaign if you want to make your campaign a team effort. You also get PayPal support, a personal fundraising coach, and PR to help promote your campaign to the media.

Crowdfunding For Filmmakers

Seed&Spark

Seed&Spark is a crowdfunding platform devoted to funding the production of movies and shows. Not only that, but the rate of funding success for Seed&Spark projects is 75%, which (Seed&Spark claims) beats all other competitors in this particular field — a claim that seems to have been corroborated by a blogger.

Seed&Spark’s fee policy is unique in the industry. Seed&Spark takes 5% of donations — the same rate as Kickstarter — but offers backers the chance to cover that fee at checkout. According to Seed&Spark, a majority of backers do so. In addition, the platform charges 2.9% + $0.30 for payment processing (same as most competitors). Combine this with the fact that, according to Seed&Spark, filmmakers take home an average of 95% of what they raise, and it appears the average platform fee paid by Seed&Spark creators is 2% — not bad at all for a non-personal crowdfunder!

Seed&Spark’s funding model is a hybrid of the all-or-nothing approach favored by Kickstarter and the keep-what-you-raise approach adopted by other crowdfunders. With Seed&Spark, you get to keep what you raise only after reaching 80% of your funding goal.

Once you’ve had a successful campaign and you actually complete your movie or show, you can even choose to have it distributed by Seed&Spark. If you do, the revenue will be split 60/40, with the creator getting 60%. Subscribers to Seed&Spark will then be able to stream your movie or show at seedandspark.com as well as on Apple TV and Roku through Seed&Spark’s app.

Slated

Slated is an equity crowdfunding platform devoted to movie production. Launch a Slated project and you’ll be marketing your film concept to a select crowd of accredited investors, many of whom work in the film industry (producers, writers, directors, actors, etc.). In fact, according to Slated, 68% of the films appearing at Sundance in 2016 and 54% of 2016’s Oscar-nominated films were made by Slated members. Using Slated is a way to get exposure for your project among the very people in the industry who matter.

With Slated, all funds are transferred offline — not great for convenience, but it means you won’t be paying any fees on what you earn.

The platform is free to use, but if you want any real likelihood of meeting your goal, you’ll want to use Slated Analytics’ Script Analysis service. Use this service and three Slated members — industry insiders with experience doing exactly this — will pore over your script and assess its screen-worthiness. Only one of the three pros who read your script has to give it a passing grade for it to earn an official recommendation. Your score will prove vital to your ability to attract investors and secure funding. The script analysis costs $395 per draft, while the combined script and financial analysis package will set you back $995.

Crowdfunding For Musicians

PledgeMusic

PledgeMusic is a crowdfunding platform for musicians. It gives bands and other performers the ability to get their music funded, connect with their fans, and offer exclusive content. According to PledgeMusic’s FAQ:

“You can run a project around your new album or EP, a book, a DVD, a concert tour…anything you’re doing, as long as it’s centered around music!”

In addition to being a crowdfunding platform, PledgeMusic also hosts your music. This may explain why PledgeMusic takes a sizable 15% cut of what you raise in a successful campaign (thankfully, you won’t have to cover the payment processing costs). Furthermore, PledgeMusic is an all-or-nothing crowdfunder. You’ve got to hit your funding goal before you receive anything.

PledgeMusic will work with you in designing your campaign and in tweaking the look of your store page. The platform is designed to allow you to offer both digital downloads (tracks, albums, etc.) and physical products like instruments, backstage passes, and swag.

ArtistShare

ArtistShare is a crowdfunding platform so old that it predates the term “crowdfunding.” Founded in 2001 and launched in 2003, ArtistShare was the first “fan-funding” site for creative artists.

ArtistShare is much more of an exclusive club than the other crowdfunding sites I’ve covered in this article. The company must pre-approve you before you can raise funds on the site, and judging by the artists on the platform, ArtistShare favors polished jazz and classical musicians.

ArtistShare takes 5% of what you raise in fees. They take an additional 3-5% for payment processing fees.

ArtistShare’s funding model isn’t quite all-or-nothing and it isn’t quite keep-what-you-raise either. With ArtistShare, if you don’t hit your funding goal, you will only receive funds from backers who clicked the “Unconditional Support” option when making their contribution. Thus, if your project doesn’t reach its goal, you’ll still get some funding, but you won’t get everything that was pledged.

Final Thoughts

If crowdfunding makes sense for your particular situation, there’s no reason you have to follow the herd and go with the big boys. There are plenty of specialty crowdfunding sites out there, only a few of which I’ve covered here. You may find that a niche crowdfunding site can offer you particular benefits — benefits you might not get with a more general-purpose crowdfunder.

The post The Best Specialty Crowdfunding Sites appeared first on Merchant Maverick.

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Is Invoice Factoring Right For Your Small Business?

invoice factoring small businesses

Invoice factoring — selling unpaid invoices to a factoring company in exchange for immediate cash — is a useful financing tool for certain businesses. If your business, like many others, has slow-paying customers that affect your cash flow, invoice factoring might help you manage your finances. But how, exactly, does invoice factoring work? And should your business use factoring services? Keep reading to find out!

Invoice Factoring Basics

Invoice factoring is essentially a sales transaction in which a business sells their unpaid invoices to a factoring company, at a discount, in exchange for immediate cash. Typically, the factoring company will hold a percentage of the invoice value in reserve; when the customer pays, the company will send you that money, less the factoring fee.

Factoring is generally used to solve cash flow problems caused by slow-paying customers. Instead of waiting 60, 90, or even 180 days for a customer to pay, the business can sell the invoice to a factoring company to get the cash needed to maintain business operations or take on new projects.

A factoring arrangement might look like this: You sell an invoice valued at $5,000 to a factoring company. The factoring company sends you $4,500 (90% of the invoice value) and keeps $500 on reserve. Your factoring fee is 0.06% per week. Your customer pays after 35 days, or 5 weeks, so your fee is $180 ($30 per week). The factor deducts their fee, and sends the remaining reserve, totaling $320, to you.

Invoice Factoring Eligibility

If you run a B2B business and you invoice your customers, chances are you’re a good candidate for invoice factoring.

Unlike with many other types of business financing, your business’s revenue and creditworthiness are not especially large considerations when determining eligibility; invoice factors are more concerned with the creditworthiness of your customers because your customers are the ones paying the bills. So, even if you own a young business without a financial track record, or you don’t make very much money, or you have poor personal credit, you might still be eligible for invoice factoring.

Is Invoice Factoring Right For My Business?

You may be eligible for invoice factoring, but should you use a factoring service? There are a lot of pros to factoring your invoices, but it’s not a perfect fit for all businesses. To determine whether factoring is right for your situation, ask yourself these questions:

Are my finances suffering due to slow-paying customers?

Slow-paying customers can affect many areas of your business. If you aren’t paid for your work until months after you have completed the job, you might have trouble meeting business expenses, purchasing inventory and supplies, paying employees, or paying for overhead costs. If this is the case, invoice factoring can be a simple way to ensure that you have the working capital you need.

However, invoice factoring is not always cheap, which is why you need to consider this next question:

Can I afford invoice factoring?

In general, factoring fees (called discount rates) range from about 1% – 6% of the invoice value per month, depending on the particulars of your factoring arrangement and how high-risk your client is. If you sell an invoice from a particularly slow-paying client, and you have a high factoring rate, you could wind up paying around 18% of the invoice value in fees for the opportunity to get your money sooner.

Many invoice factors also charge additional fees for factoring services. You might be charged money transfer fees, servicing fees, monthly minimums, or other expenses, which can add up over time. Head over to our explanation of factoring rates and fees to learn about discount rates and other commonly charged fees.

All that said, your fees will depend on a number of components, including the factoring company you are working with, the creditworthiness of your customers, the number and size of the invoices you want to sell, the industry your business is in, and other considerations. You will have to look at your options and decide whether the cost is worth it to your business.

Even if you decide that you need a financial solution, invoice factors most likely aren’t your only option.

Would an alternative financing solution work better?

Now, more than ever, businesses have a plethora of financial solutions available. While invoice factoring might seem like the perfect solution to your cash flow problems, the following might be a better fit:

  • Asset-Backed Lines Of Credit: These credit lines can be backed by unpaid invoices or (occasionally) assets like inventory or other receivables. The amount you are able to borrow depends on the value of your collateral. Asset-backed lines of credit work similarly to invoice factoring, but might offer more flexibility in some ways. These credit lines also tend to have lower rates than financing that isn’t backed by anything, so you might qualify for low rates and fees in comparison to other options.
  • Revolving Lines Of Credit: With a revolving line of credit, the amount you are able to borrow replenishes as you repay your debts. While some revolving lines of credit are backed by collateral, some simply require you to sign a personal guarantee and/or pledge general business assets via a blanket lien. With this type of financing, you’ll always have money available when you need it. And because you repay weekly or monthly, you don’t have to worry about getting fined because your customers forgot to pay their bills. Head over to our article on business lines of credit to learn more about this type of financing, or scan this list of our favorite lines of credit if you’re interested in learning about your options.
  • Business Credit Cards: Business credit cards can be useful if you need cash short-term for business expenses. You can put many purchases on credit cards and repay them on a timetable that works for you. However — especially if you tend to carry a balance — you might want to consider other options, because credit cards have notoriously high rates and fees. If you’re looking for a business credit card, check out some of our favorites.
  • Small Business Loans: If you only need funds one time, or if you need a large sum of money, a small business loan might be a good bet. Some lenders have long application processes, but many, including PayPal Working Capital and OnDeck, can let you know if you’re eligible within a very short time period. Most small business loans come in the form of installment loans or short-term loans. Small business loans can be used for a number of purposes, such as working capital, payroll, inventory purchasing, and other uses.

Final Thoughts

If you’ve decided that invoice factoring is a potential solution for your business, good for you! Invoice factoring can be a very viable way to maintain cash flow for your business, especially if you tend to get bogged down by slow-paying customers.

Interested in learning more? The following resources provide additional information about invoice factoring and may assist you to find the right factor for your business:

  • A Basic Introduction To Invoice Factoring: Invoice factoring basics, including what to look out for, a basic explanation of fees, and alternative services to factoring
  • Understanding Invoice Factoring Rates & Fees: An in-depth look at factoring rates and fees, including the variables that affect your rates, the three most common fee structures and their differences, and other fees you might have to look out for.
  • Spot Factoring vs. Invoice Factoring: A guide to help you determine whether your business should choose a spot factoring service, a high-volume factoring service, or some other alternative service.
  • Merchant Maverick’s comprehensive reviews of invoice factoring services provide honest and thorough assessments of some of the most popular invoice factoring services available.

The post Is Invoice Factoring Right For Your Small Business? appeared first on Merchant Maverick.

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Best Payment Processing Integrations For Accounting Software

Best Payment Processing Integrations for Accounting Software

Are you ready to start accepting credit and debit cards from your customers? Do you want your customers to be able to pay their invoices directly online? You’ve come to the right place.

Here at Merchant Maverick, we know payment processing can be a tricky concept to wrap your mind around. Finding the best option for your business isn’t always easy. The good news is we’ve done the hard work for you. The even better news? Each of these payment processors integrates directly with your accounting software to make your life that much easier.

This post will discuss five of the top payment processors that integrate directly with accounting software. We’ll cover the pros and cons of each to help you decide which is best for your small business. And we’ve even created a handy chart to help you compare all the payment processors that integrate with major accounting programs.

But before we begin, let’s cover a few basics about payment processing.

If you’re already a payment processing pro, feel free to skip this section and continue on to our top picks for best payment processing integrations. Or visit our merchant account reviews to see more payment processing options.

A Brief Intro To Payment Processing

There are two different types of payment processing companies — merchant accounts and payment service providers (or PSPs).

  • Merchant Account: A merchant account is an individual account that connects your business directly to a payment processor so you can accept credit cards and debit cards. When your customer pays with a card and the payment clears their banking institution, the transaction will be deposited directly into your bank account through your merchant account.
  • Payment Service Provider: A payment service provider also allows you to accept credit cards and debit cards. However, instead of creating an individual account, a PSP will lump all of your transactions into a shared account where multiple merchants transactions are stored.

So which one should you use? There are a lot of factors to consider, including your business type, the size of the transactions you’re processing, the number of transactions you process per month, and whether or not you are considered a “high-risk” merchant.

According to our merchant account expert, Tom DeSimone:

If you plan to process large transactions ($300 or more) or a sizeable monthly volume in card payments (about $10K or more, NOT INCLUDING cash and checks), you will want a merchant account to get the best rates.

On the other hand, he says this about PSPs:

While transactions fees might be a little higher than if you had your own merchant account, PSPs usually do not charge a monthly fee or other schedule fees. You just pay for what you use, which is ideal for businesses that only process sporadically.

It’s pretty simple, really. If you plan on processing large transactions or lots of transactions every month, a merchant account will probably be the way to go. If you’re a smaller business that doesn’t process much and needs a pay as you go option, a PSP might be a better choice.

There are other pros and cons to consider with each type of payment processing company, however.

We borrowed this handy chart from our Beginner’s Guide To Payment Processing to help you better understand the differences between merchant accounts and PSPs:

Best Payment Processing Integrations for Accounting Software

There is one more important concept to cover before we move on. In addition to merchant accounts and PSPs, you might encounter payment gateways.

If you’ve ever bought anything online, you’re already familiar with this concept (whether you know it or not):

  • Payment Gateway: A payment gateway allows you to accept credit and debit cards online. Payment gateways use either merchant accounts or PSPs to connect your business and your customer’s banking institution so you get paid.

Payment gateways account for some of the most common accounting integrations (think PayPal and Stripe).

In order to integrate your accounting software to a payment gateway, you will need to establish an account with that gateway provider. Depending on the payment gateway you choose, you may need to set up a merchant account or PSP account. Your payment gateway may require that you use a specific merchant account or PSP of theirs, or they may offer a payment gateway and merchant account or PSP bundle.

I know this is a lot to take in, believe me, but it gets easier from here. Now you can sit back, relax, and learn about our top five favorite payment processing integrations for accounting software.

Fattmerchant

Best Payment Processing Integrations for Accounting Software

Fattmerchant integrates with QuickBooks Online.

Fattmerchant (see our review) is a merchant account provider that was founded in 2014. This company sets itself apart by offering subscription-based pricing, making it competitive and potentially more affordable than other merchant accounts. Fattmerchant also offers 24/7 customer support and receives positive feedback from the majority of its customers.

Products & Services

Fattmerchant supports the following products and services:

  • Merchant account
  • Virtual terminal
  • Countertop terminals (pricing not disclosed)
  • Point of Sale (POS) integrations
  • Mobile payments
  • One mobile card reader ($75 for each additional reader)
  • Shopping cart integration
  • eCheck services ($29/mo + $0.25 per transaction)
  • Data analytics

The company does not have its own payment gateway, but Fattmerchant is compatible with Authorize.Net, Payeezy, or the TSYS Payment Gateway. It will set you up with a free gateway or integrate with your existing one.

Pricing

Fattmerchant offers two pricing plans that are paid monthly. There is no locked-in contract and no early termination fees for either plan.

  • Basic: $99/mo + $0.08 per transaction for retail ($0.15 per transaction for ecommerce)
  • Enterprise: $199/mo + $0.05 per transaction for retail ($0.10 for ecommerce)

If you’re looking for an affordable, honest merchant account, Fattmerchant is one of the best. This option is good for businesses looking for a predictable monthly subscription plan. Fattmerchant does not provide high-risk merchant accounts and may not be a good value for small businesses with low payment processing.

Read our full Fattmerchant review to learn more and see if this affordable merchant account option is right for you.

CDGcommerce

Best Payment Processing Integrations for Accounting Software

CDGcommerce integrates with QuickBooks Online.

CDGcommerce (see our review) is a merchant account provider with over 20 years of payment processing experience. This company is geared toward small to medium-sized business and also operates on a monthly subscription pricing model. A free payment gateway is included with every CDGcommerce merchant account. The company also sets itself apart with an impressive client retention rate and excellent customer support.

Products & Services

CDGcommerce supports the following products and services:

  • Virtual terminal
  • One credit card terminal (with a $79/yr insurance fee)
  • Mobile payments
  • POS systems
  • Optional security service
  • Data analytics and reports

CDGcommerce offers a free payment gateway. Users can choose between Quantum or Authorize.Net.

Pricing

CDGcommerce has two types of pricing: simplified pricing and advanced pricing. Simplified pricing rates depend on your business type and size.

  • Online: Interchange + 0.30% + $0.15 per transaction
  • Retail: Interchange + 0.25% + $0.10 per transaction
  • POS: Interchange + 0.25% + $0.10 per transaction
  • Mobile: Interchange + 0.25% + $0.10 per transaction
  • Non-Profit: Interchange + 0.20% + $0.10 per transaction

Advanced pricing offers discounts for business with a processing volume of $10,000+ each month. There are no long-term contracts or early terminations fees for either pricing structure. Check out our complete CDGcommerce review for more pricing details. To learn more about interchange and interchange-plus pricing, read Trading Ease For Transparency With Interchange Plus.

 

CDGcommerce is a scalable company with an impressive number of products and services. The free credit card terminal is also a huge plus. The only catch with this company is that it is limited to merchants in the US.

If you’d like to learn more about CDGcommerce, read our full CDGcommerce review.

Square

Best Payment Processing Integrations for Accounting Software

Square integrates with QuickBooks Online, Xero, Zoho Books, Kashoo, and Kashflow.

You’re probably familiar with the swipe-based payment processing system known as Square. Square (see our review) is one of the leaders in mobile processing. It offers great features including inventory, invoicing, and customer management features. And to top it off, Square has a ton of integrations.

Products & Services

Square supports the following products and services:

  • Virtual terminal
  • Gift cards ($2 per card)
  • Shopping cart integrations
  • e-Invoicing
  • Inventory management
  • POS app
  • Customer management
  • Customer feedback
  • Advanced reporting
  • Email marketing
  • Appointments ($30-$90/mo)
  • Payroll ($25/mo + $5/mo per employee)
  • Event rentals

Pricing

Square offers standard fees with no interchange-plus pricing. There are no monthly fees, no locked-in contracts, and no early termination fees.

  • Standard Swipe Transactions: 2.75% per transaction
  • Square Register Swipe Transactions: 2.5% + $0.10 per transaction
  • Virtual Terminal Transactions: 3.5% + $0.15 per transaction
  • eCommerce & Invoice Transactions: 2.9% + $0.30 per transaction

Square offers several add-ons and additional monthly services. Be sure to read our complete Square review for more pricing details.

If you’re looking for a mobile payment processor, this is one of the most well-known and developed options. Square is good for small businesses with low processing volumes and can be an affordable choice. However, Square is not meant for high-risk merchants or companies with a large processing volume as the company is known to hold funds and suddenly terminate accounts.

To learn if Square is the right payment processing option for your business, check out our full Square review or read our post: Is Square Right For Your Business?.

Authorize.Net

Best Payment Processing Integrations for Accounting Software

Authorize.Net integrates with QuickBooks Online, Xero, Zoho Books, FreshBooks (classic), and Microsoft Dynamics.

Authorize.Net (see our review) is a payment gateway that was founded in 1996; it has since supported over 400,000 merchants. Not only does Authorize.Net allow you to accept online payments from customers, it also has a checkout feature, recurring billing, contact management, and fraud protection. In addition, the company offers good customer support and key accounting integrations.

Products & Services

Authorize.Net supports the following products and services:

  • Virtual terminal
  • Mobile payments app
  • Supports mobile card reader ($42-$98 per reader)
  • Simple checkout
  • Apple pay support
  • Fraud detection
  • Recurring billing
  • Customer information management
  • eChecks (additional cost)

If you have a merchant account, Authorize.net is designed to be compatible with your existing merchant account.

If you don’t have a merchant account, you can have Authorize.Net set you up with one. Or, you can choose a merchant account provider that partners directly with Authorize.Net. If you want to go this route, we recommend Dharma Merchant Services, one of our all-time favorite payment processing providers.

Pricing

Authorize.Net offers two pricing plans: a gateway-only plan and a gateway + merchant account plan. There are no-long terms contracts or cancellations fees (but this may vary depending on your merchant account provider).

  • Payment-Only: $25/mo + $0.10 per transaction
  • Payment Gateway + Merchant Account: $25/mo + 2.9% + $0.30 per transaction

Note: If you are using a merchant account provider that partners with Authorize.Net, your merchant account may lower or even waive certain fees. Read our complete Authorize.Net review for more pricing details so you can make sure you get the best deal.

If you’re looking for a payment gateway, Authorize.Net is a great option. It boasts excellent customer service and tons of features to cover most business needs. One important thing to remember is that Authorize.Net is not good for data exporting. Pricing can also be expensive if you sign up with Authorize.Net directly, so make sure you explore all of your options before deciding.

Read our full Auhorize.Net review for more information.

Braintree

Best Payment Processing Integrations for Accounting Software

Braintree integrates with QuickBooks Online, Xero, Sage One, FreshBooks (classic), and Saasu.

Braintree (see our review) offers both merchant accounts and payment gateways. This processing company was established in 2007 and offers impressive features, multiple currency options, and excellent customer support. Flat-rate pricing and ample integrations are also a huge plus.

Products & Services

Braintree supports the following products and services:

  • eCommerce integration
  • Mobile payments
  • Recurring billing
  • Fraud detection
  • Tax support
  • Developer tools
  • PayPal integration

Braintree comes paired with its own payment processing, but merchants can choose to use a different merchant account with the Braintree gateway for an added fee.

Pricing

Braintree has a simple pricing plan. There are no monthly fees, setup fees, gateway fees, or early termination fees. Instead, you’ll pay a competitive, standard rate:

  • 2.9% + $0.30 per transaction

If you only want to use the Braintree gateway and not its payment processing, then you’ll have to pay a flat fee of $49 per month plus $0.10 per transaction instead.

We like Braintree so much that it even outranks PayPal and Stripe in our books. However, Braintree is not suited for high-risk merchants and certain types of businesses are prohibited from using Braintree.

Read our complete Braintree review for more details and to see if this merchant account and payment gateway provider is a good fit for your business.

Which Is Right For Me?

If you’ve learned anything from this post, it’s that when it comes to payment processing there are lots of options to choose from. The right payment processing provider for your business will depend on whether you’re looking for a merchant account or a payment gateway (or a combo of both), plus the number of transactions you process and the extra features your company requires.

One of the main things you should consider is which providers integrate with your accounting software. This will narrow down your decision quite a bit.

While we named some of our favorite companies above, there are several other common payment processing accounting integrations, including PayPal, Stripe, forte, and GoCardless. To make your search for the perfect payment processor easier, we’ve created a chart of the most common accounting programs and the payment processing providers they integrate with.

Software Payment Processing Integrations
QuickBooks Pro BluePay, Durango Merchant Services, QuickBooks Desktop Payments
QuickBooks Online Authorize.Net, BluePay, CDGcommerce, Fattmerchant, Forte, Partial.ly, Payline, PayPal, WorldPay, QuickBooks Payments,    Square, Stripe, WePay, WorldPay
Xero Authorize.Net, Bill&Pay, Braintree, Forte, GoCardless, PayPal, Square, Stripe, WorldPay
Zoho Books Authorize.Net, Braintree, Forte, PayPal, RazorPay, Square, Stripe, WePay
Wave PayPal, Stripe, Wave Payments
FreshBooks (new)  Partial.ly, Payments by FreshBooks, PayPal, Stripe
FreshBooks (classic) Authorize.Net, Braintree, Forte, PayPal, Stripe
Sage One Braintree, PayPal, Sage Payment Solutions,
Stripe, WayPay, WorldPay
Sage 50c GoCardless, Sage Payment Solutions
FreeAgent GoCardless, PayPal, Payal Here, Square, Stripe
Saasu Braintree, eWay, PayPal, PayWay, PinPayments, Stripe
Kashflow GoCardless, Global Payments, PayPal, Square,
Stripe, WorldPay,
Kashoo BluePay, PayPal, Stripe
ClearBooks GoCardless, PayPal,  PayPoint
AND CO PayPal, Stripe

Note: The above integrations are always changing and may vary by country. Check with your accounting software directly for the most up-to-date information.

Remember that when you are choosing the perfect payment processor to integrate with your accounting solution, you can never do enough research. Be sure to check out our merchant account reviews to learn how each software stacks up in terms of features, value for your money, and reliability. If you’re interested in learning more about payment processing, you can also download our free Beginner’s Guide To Payment Processing to learn to evaluate your options, negotiate a good merchant account contract, and more.

Best of luck, and stay tuned for more payment processing tips and tricks from the Merchant Maverick team. If you’d like to do more reading on the subject, the following articles will point you in the right direction:

The Complete Guide to Online Credit Card Processing With a Payment Gateway

Are You A High-Risk Merchant?

The 5 Best Small Business Credit Card Processing Companies

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