Payment Formats
Currently bzTrack offers payments by account to account, card payments and BPAY. We will soon be adding more payment options such as wallets, Paypal and much more. Please keep an eye on our News page and our social media pages for updates. If you'd like more information on payment options, please get in touch.
By giving you multiple payment options, bzTrack gives you greater flexibility for how your payments are sent and received. Suppliers and customers use various formats to pay and receive so it is important that you can cater to all the required formats.
Batch Payments
We've hatched the batch!
Paying bills through bzTrack is already incredibly fast and easy, but we’ve just taken things up another gear!
You can now make batch payments in bzTrack at record speed, saving transaction costs, reconciling a stack of bills with a few clicks, and you can do all this without direct bank access!
Earlier this year we filmed a webinar showing that bills can be paid in bzTrack in 1/3 the time they are with the traditional method - using Xero and internet banking. That’s already a huge time saving, but with the release of our Batch Payments feature, you’ll be able process multiple transactions simultaneously.
Simply put, this will see bzTrack trigger a single withdrawal and then as many deposits as is required (one per recipient) to complete the batch, reducing the number of transactions overall by nearly half. The result is that transaction costs go down by nearly half, as well!
If you’re connected with Xero, you might be thinking ‘yes, but how will this reconcile’? Well, no matter how many bills you’ve paid in the batch, these transactions will sit in xero reconciliation batched as a single total matching the single withdrawal transaction in your bank feed. It’ll be lit-up green and you’ll reconcile all the component transactions in one click!
In-line with our ethos that fewer and simpler processes save time and reduce room for errors to creep in, batch payments are another way to greatly reduce the overall work that needs to be done to keep your accounts up to date. Fewer overall manual entries mean fewer opportunities for a mistake to happen, and that means fewer messes to clean up.
Batch payments with bzTrack don’t use old fashioned ABA files and can be completed without direct access to internet banking. Once the payment account has been added to your organisation, team members can set up and pay batches without bank logins, dongles, Xero access and all the rest. Of course, combined with our user roles and dual authorisation features, you have total control over who can access the money and how, and if you want another high-level user to check and authorise these payments before they go out, we’ve got you covered.
Get started with batch payments or move your batch payments from the ‘traditional method’ (yawn!) to the faster and safer method with bzTrack!
Users and Roles
Only a user with 'Administrator' or 'Teams and Roles' permission can invite new or update existing users.
Once the organisation is set up, either can invite other users to access the organisation. You might invite the business owner, an accountant or bookkeeper, the office administrator and even the salesman for your business.
When you invite a new user, you need to assign them role permissions. You can give them:
- Access to Invoices and bills.
- Permission to approve bills.
- Access to payment services.
- Access to paid services.
- Teams and Roles access.
You should also set up multi-factor authentication to add an extra layer of security to logins.
There are no limits or charges for the number of users you can invite into an organisation.
If you have access to multiple organisations, when inviting a user, the organisation you’re logged into is the one they’re invited into.
You can also change a user’s role or remove their permissions altogether if need be.
Don’t share login details – keep your own log in details confidential and do not share with other users.
Types of user roles
Each role permission has a different level of access across the different functional areas
Invoice and Bills
- Grants access to invoices and bills to create, view, edit and send. This includes bringing in bills for easy payment through bzTrack either manually or through synchronising with other software such as Xero
Bill Approval
- Grants access to bill approval allowing the user to approve a bill received and progress for payment.
Payments
- Grants access and permission to make payments, allowing the user to make payments against bills approved
Paid Services
- Grants access and permission to use paid services within bzTrack such as credit reports.
Teams and Roles
- Grants access and permission for inviting new users, editing existing users and allocating roles and permissions for each.
Administrator
- All permissions and services.
Recommendations
- 1. It is easy to increase permissions when needed, so start with what's needed and increase as you find appropriate.
- 2. Use dual authorisation settings, make sure that more than one set of eyes are looking at and making transactions.
- 3. Ensure you use 2FA, the more security the better when it comes to payments!
