What's New with QuickBooks Online: Get Paid Upfront

More than 60% of small business owners say they’ve experienced cash flow challenges, according to Intuit. The majority of small business owners that experience those issues (89%) say cash flow challenges in QB Online had a negative impact on their business. More than a quarter (27%) have said not getting paid according to the agreed upon payment terms is a primary contributor to their problems with cash flow.

Long payment terms and unpaid invoices could lead to cash flow shortages when you need to do things like pay bills and vendors. When cash runs low, you might have limited options to get the money you need. And a long-term business loan might not be the optimal solution for your immediate cash flow needs. So if cash flow is a recurring issue, traditional loan options may be limited.

In an ideal world, you would get paid upfront for every invoice and avoid stressful cash flow shortages. In our real world, you can request Get Paid Upfront—a new invoice financing tool available through QuickBooks!

What is Get Paid Upfront?

Get Paid Upfront is an invoice financing tool that allows users to request earlier access to invoiced funds by receiving an advance on your unpaid invoices, making your invoice payment terms feel like Net Now.

If approved for Get Paid Upfront, you can get paid on your terms, so you can access your invoiced funds when you need them. When cash flow runs dry, you can have a powerful cash flow support system of a total credit limit up to $30k. And it’s offered within QuickBooks Payments only, your trusted business partner.

Get Paid Upfront provides faster access to your funds than traditional business loans through your bank, so you can maintain your customer relationships and focus on what matters most, which is building your business.

How Get Paid Upfront works

Eligible QuickBooks Payments customers are able to request Get Paid Upfront for qualifying invoices. Not a QuickBooks payments customer, apply now here: https://wuzypro.com/pages/intuit-quickbooks-payments. If you are approved, Get Paid Upfront provides you with early access to invoiced funds. Applying for invoice funding is fast and easy with no stress.

When your clients pay their invoice with QuickBooks Payments, the money is applied to the outstanding balance of the financed invoice—no forms, no extra work, and no hassle given.

If the invoice is paid within 30 days: The invoice advance will be interest-free for the first 30 days. If the invoice is paid within 30 days through QuickBooks Payments using ACH or credit card payment, you will not be charged any payment processing fees.

If the invoice is not paid within 30 days: If the invoice advance isn’t repaid within 30 days, the outstanding balance would start to accrue interest on day 31. You can repay the total financed invoice in an easy 12 monthly installments at a fixed interest rate as outlined in your borrower agreement.

Get Paid Upfront is a quick solution for your immediate cash flow problems. Just need to pay a 3% loan fee per invoice financed, plus any interest that accrues after the first 30 days. As always, Get Paid Upfront is completely confidential to all your customers, so you can keep running your business knowing QuickBooks is helping behind the scenes.

Benefits of Get Paid Upfront

No need to worry about your cash flow concerns—through Get Paid Upfront you can request money when you need it.

Get paid on your terms, interest free

Get Paid Upfront helps your business finance invoices upfront, making traditional Net terms feel like a thing of the past. With Get Paid Upfront, you can request access to the funding you would need to support your business with a total credit limit up to $30k—interest free for the first 30 days.

A complete invoice solution

Simplify and streamline the whole invoicing process with QuickBooks. Apply for invoice funding online with Intuit and get approved in three simple steps. If approved and funded, the first 30 days will be interest-free so you can focus on what’s next for your business. From creating invoices to getting paid fast, full-circle invoicing has never been easier.

Waive ACH and credit card processing fees

There are absolutely no credit card and ACH transaction costs when your customers pay through Quickbooks Payments during the first 30 days.

Maintain great customer relationships

Access funds from your qualifying outstanding invoices fast and confidentially, with no impact to customers. Get Paid Upfront keeps business going with valued clients while you are financing invoices behind the scenes.

Focus on your business, not chasing payments

Getting funds quick means you can spend less time worrying about cash flow, and more time focusing on your own business. You have the power to increase your cash flow when you need it. Best of all, repayment is a breeze—if your client will pay their invoice within 30 days using QuickBooks Payments, the money goes straight to repayment of the invoice advance.

To be eligible for Get Paid Upfront, you’ll need to have a subscription to QuickBooks Online and QuickBooks Payments. Don't have QuickBooks Online, get it here now: https://wuzypro.com/collections/quickbooks-online. You can apply to get Get Paid Upfront from the fundable tab under the Invoice Dashboard in QuickBooks Online.

Frequently asked questions about Get Paid Upfront

Who is eligible for Get Paid Upfront?

Get Paid Upfront is a feature of QuickBooks Online and requires active QuickBooks Online and QuickBooks Payments subscriptions.

Various factors determine eligibility to get Get Paid Upfront, including but not limited to:

  • Your business history within Intuit QuickBooks.
  • Your maintenance of an active QuickBooks Payments subscription.
  • Transactions within your business bank accounts.
  • Your own invoice history.
  • As the personal guarantor, your personal and business credit profiles.

Because every business is unique, each application will be considered individually and decisions are based on current guidelines and applicable laws.

How can I apply for an advance with Get Paid Upfront?

Easily apply for invoice funding within your QuickBooks. Our simple three-step process takes minutes.

Upon approval and acceptance, you’ll receive your requested funding on your financed invoices within 1-3 business days.

How much of my invoices can I finance?

Once you’ve accepted an approved Get Paid Upfront offer, you can receive a deposit of 97% of the invoice amount into the business bank account provided in your application. The money will appear in your account within a few business days.

You can access a total credit limit of up to $30k in funds on one or more qualifying invoices. The maximum invoice amount for each of the qualifying invoices is $10k.

Your offer may be modified or can be revoked at any time and for any reason, including, but not limited to, if there are adverse changes to the credit profile of the business and/or personal guarantor, irregularities with your business or identity, or if you cancel or suspend your QuickBooks Payments account.

Will my customers know when I use Get Paid Upfront?

With Get Paid Upfront, you can maintain a direct relationship with your customers. Your customers will not know that you’ve used Get Paid Upfront with their invoice to access those funds early.

How long do I have to repay my invoice advance?

With Get Paid Upfront, you have 30 days from the disbursement (the day the advance was issued) to pay the invoice amount in full before it begins to accrue interest.

If your customer pays their invoice through your QuickBooks Payments during the first 30 days, those payments will be automatically applied to your Get Paid Upfront loan balance. For these customer payments, you will not be charged any payment processing fees.

You can prepay your loan in full or in part without being charged any type of prepayment penalties. No late fees will be charged for Get Paid Upfront.

You can take advantage of the autopay feature to facilitate repayment. Each month, the pre-authorized monthly repayment amount would be debited from the same business bank account where your upfront advance was sent. You also have the option to have manual payments through a repayment portal. In the repayment portal, you monitor, manage, and repay the upfront advances.

You’ll receive an email invitation to activate your repayment portal within a week of receiving your Get Paid Upfront offer.

What fees will I pay to use Get Paid Upfront?

Just pay 3% of the invoiced amount, plus any interest that accrues after your first 30 days.

If your customer pays their invoice through QuickBooks Payments during the first 30 days, you will not be charged any additional credit card and ACH processing fees.

 

Get QuickBooks Online today! https://wuzypro.com/collections/quickbooks-online