How to Collect and Record Client Payments in Teachworks
Looking for a student billing system that simplifies payment collection and recording? We can help! We offer a myriad of ways to manage client payments to ensure that your education business stays organized.
1. Recording Payments through our Stripe Integration
The easiest and most efficient way to manage client payments (by credit card) in Teachworks is through our Stripe Integration. Payments are automatically captured and allocated to the relevant invoice when a client pays their invoice online or when you charge their credit card on their behalf.
Allow clients to pay:
With this integration enabled, you can allow your clients to pay directly from their invoices. To simplify the payment process even more, you can enable user accounts for them and they can store their credit card details securely on their profile. When payment time comes, they can just login and pay with their default card without having to re-enter all their information.
Your clients can add multiple credit cards to their profiles, making it possible to select a backup card if their credit card is declined for whatever reason. Admin and staff accounts can also manually add credit card details to client profiles.
Charge cards on behalf of clients:
Another option is to charge credit cards on behalf of your clients. We have recently added a bulk invoice payments option to our Stripe Integration. Enabling this option will allow you to select multiple invoices at a time. A green “Pay Invoices” button will then appear and you can proceed to charge client credit cards.
After hitting the “Pay Invoices” button, the following will happen:
Invoices are processed in ascending order by number. For clients with multiple invoices, the invoice with the lower number will be paid first, followed by the others.
- Teachworks will check if the invoice balance is greater than $0.50, and that the invoice status is “approved”
- Teachworks then connects to Stripe with the client’s Stripe ID and retrieves their credit card(s) (their default card will be charged). If this card is declined for some reason, additional cards will be charged until a payment succeeds or the client has no more saved cards.
- Succeeded payments will automatically be recorded in Teachworks and will be allocated to the relevant invoice. The invoice will be updated to “paid”.
A “Pay Online” button is automatically displayed on client invoices when you have Stripe enabled, but if you want to avoid confusing your clients, you can hide this button from invoices. This option is available under the Stripe Integration as well.
2. Manually recording client payments
If you’re not using our Stripe Integration for credit card payments, or clients use other payment methods (such as cash or direct deposit), you will need to manually record payments to keep customer balances accurate. You can record payments before invoicing your clients, or you can record a payment directly on invoices.
If you want to record a payment before the invoice has been created, you can do so by clicking on “Payments” under the billing tab. Once you have created the invoice, you can apply the payment to the invoice.
If you receive payment after an invoice was created, you can go to the invoice that the payment is for and scroll right to the bottom of the page. You will notice a “Record Payment” section and you can proceed with capturing the relevant information. This option will only be displayed if the invoice has an “Approved” status, so if you don’t see it, you need to update the status of the invoice to “Approved”.
In both of these situations you can send a receipt to your client.
3. A quick note on QuickBooks Online:
If you are using our QuickBooks Integration for accounting purposes, it is important to note that payments are not automatically assigned to invoices in QuickBooks. Payments and invoices are synced to QuickBooks, but you need to match invoices and payments directly in QuickBooks.
When applying a payment to an invoice, QuickBooks will give you suggestions (based on the date, customer and the payment amount) which will simplify the matching process. There is however no re-entry of data, because the records already exists in QuickBooks.