Collecting payments through Zomentum Payments simplifies the management of invoices generated in your accounting software by automating synchronization and collection processes. Here’s how you can efficiently manage and collect invoice payments using Zomentum Payments:
TABLE OF CONTENTS
- 1. Invoice Synchronization
- 2. Client Enablement Statuses
- 3. Configuring Auto Collect
- 4. Automated Bookkeeping
- 5. Immediate Payment Collection
- Conclusion
1. Invoice Synchronization
- Immediate Sync: Invoices created in your accounting software are immediately synced to Zomentum Payments upon creation. Any subsequent changes to these invoices are also synced automatically, ensuring that the information in Zomentum is always up-to-date.
2. Client Enablement Statuses
Clients in Zomentum can have one of three statuses that determine how invoices are handled:
- Totally Disabled: No actions are taken automatically.
- Invoice Emails Enabled: Zomentum will send the invoice to the client via email.
- Invoice Emails and Auto Collect Enabled: In addition to sending the invoice, Zomentum will automatically collect payment based on the due date and the auto collect schedule defined in your settings.
3. Configuring Auto Collect
- Auto Collect Schedule: Set up and manage your auto collect preferences in Zomentum to automatically collect payments on due dates. This can be configured under Settings -> My Configuration -> Invoice Preferences.
4. Automated Bookkeeping
- Bookkeeping Entries: Once a payment is scheduled, collected, and deposited into the bank, Zomentum makes the relevant bookkeeping entries in your accounting system.
5. Immediate Payment Collection
- Collect Now Feature: Regardless of the enablement status, you can use the 'Collect Now' button in Zomentum to trigger immediate collection of an invoice. This is particularly useful for accelerating the payment process when necessary.
Conclusion
Using Zomentum Payments to collect invoice payments provides a streamlined, automated approach to managing client invoices and payments. By configuring your account settings to automatically handle invoices according to client preferences and due dates, you can enhance efficiency and ensure timely payment collection. For more information and detailed guides on setting up and using Zomentum Payments, visit the Zomentum Help Center.