Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

ASP Resources

At Telpay, we pride ourselves on the resources we provide our customers, and if you’re an ASP, we’ve got everything you could want in one convenient spot.

If you haven’t surfed through Telpay’s extensive information archive, be sure to follow this link to check out our dedicated ASP Resources page. Here, you will find an incredible bank of helpful articles that will help you work with Telpay and your clients.

 

Our ASP area is broken up into the following categories:

  • Frequently Asked Questions when setting up a new client
  • Partner Pricing
  • Webinars
  • Learn how to Use Telpay for Business
  • Telpay for Business Marketing Tools to Help You Become Successful
  • Telpay for Business USD Tools

If you can’t find the information you’re looking for, we want to hear about it! Help us grow our ASP Resources by sending us a request service@telpay.ca.

Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Telpay Hosts a Payments Panel at IPBC Ignite 2017

We’re excited to announce that at the upcoming Institute of Professional Bookkeepers of Canada (IPBC) National Conference – Ignite 2017 – in Richmond Hill, ON, Telpay will be hosting an exciting roundtable featuring thought leaders in the payment and business industry!

IPBC is a member based association to help bookkeepers become more successful and gain better recognition within the bookkeeping profession. IPBC provides the environment, knowledge, and resources its members need to develop excellence in bookkeeping, through certification, education, networking, advocacy, information, and research.

The panel discussion aims to address Canada’s Evolving Payment Needs & Building a More Efficient Payment System for Industry. Electronic payment adoption has increased and is quickly developing to be an indispensable part of business. Accounting and bookkeeping processes are rapidly transforming, and it has become apparent that improvements are needed in the payment system to keep pace such as quicker notification of returned debits, frequent and faster payment processing between the banks, and improved oversight to protect all users.

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Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Who is Still Using Paper Cheques?

Guest Blogger: Our guest contributor is Douglas Dickie, President of AccSys Solutions, the world’s largest Adagio Accounting consultant reseller and has mentored over twenty Adagio Dealer Business Partners across North America. Article reposted with permission

With the emergence of new digital forms of payment such as email money transfers, use of paper cheques has been steadily on the decline in Canada, shrinking by roughly five per cent a year, according to the Canadian Bankers Association. With advancements in payment technologies that enable services like wire transfer, debit payments, PayPal and Bitcoin, electronic payment has now become ubiquitous. For regular payables “cheque runs”, e-payments are fast becoming the norm for businesses of all sizes and industries. Many businesses now only issue printed cheques when an unexpected situation arises that prompts the company to issue a manual cheque.

Small businesses that are still relying predominantly on printed cheques are also grappling with the escalating cost of paper cheque stock and the rising cost for clearing printed cheques through their bank. This is quickly forcing small business owners to reconsider employing e-payments over cheques.

Ten years from now, a paper cheque will go the way of the rotary phone and the fax machine. Technology will continue to add convenience and efficiency to business processes such as payments.

At AccSys Solutions we use and recommend Telpay for Business. Telpay features password protected single and dual payment authorization and system access, allowing you to replicate internal controls. With enhanced reporting, Telpay allows you to maintain a clear audit trail of all payments, including accounting distribution and payment history. With no outstanding cheques, bank reconciliation is easy. Telpay for Business allows you to pay 100% of your suppliers, employees, CRA remittances and international payments all in one easy to use system. We encourage you to check it out. No pun intended!

 

Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Tammy Lloyd Bookkeeping Easily Transitions to ePayments

Tammy Lloyd began her business Tammy Lloyd Bookkeeping in June 2013 after deciding she wanted to work closer to home. She provides bookkeeping and year-end pre-audit preparation for businesses and non-profit organizations.

Before using Telpay, her clients struggled to get vendor payments in on time. She would sign up non-profit clients who needed to make arrangements with signing authorities to sign cheques.

“Volunteer board members would need to take time out of their already busy schedules to physically stop by the office and sign cheques.”

Another one of her client’s office structure had changed with some of the office team working remotely. Having two people in the office at the same time to get signatures was completely inconvenient.

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Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

The Cost of Processing Cheques

One of the questions that may come up with businesses you speak to is – “What are the cost savings when you eliminate cheques from your business payments?”

For your convenience, we have a simple Savings Calculator to show your clients just how much they can save.

Using this calculator will help give a perspective not only of the overall payment process but how many pieces go into each cheque sent out in the mail.

The Savings Calculator considers elements such as postage and the cost for cheques, but then comes other factors such as bank fees and forms, along with intangibles such as assembly and the actual mailing. Quickly, you will see how the cost of continuing with cheque payments adds up.

We also take into consideration another aspect – time. If businesses are writing cheques or balancing books with a ledger and chequebook, they spend more time than needed to keep records up to date.

This time, particularly for emerging business owners, can better be spent planning and growing their company. For those who have led or been part of a company for a longer period, well, it goes without saying just how much more time is needed in a day.

Bearing in mind these factors, you can easily show what payments through Telpay’s processing system can do for their business. Whether it’s a regularly-scheduled amount that goes to a supplier or a one-off, they will save time and money thanks to Telpay for Business payment software.

To learn more about how Telpay saves your company’s bottom line, call one of our representatives today at 800-665-0302 or email sales@telpay.ca.