Best practices for Sage Intacct payments

Sep 23, 2021 by Mark Fisher

Whenever an organization invests in a new technology, especially one that deals with receiving payments, it’s critical to understand best practices to maximize the return on that investment. Accounts receivable and invoicing practices are such foundational aspects of a successful business that best practices are even more important.

Unfortunately, modern payment, invoicing, and accounting workflows are often still extremely complex and frequently come with high transaction costs, errors, and inefficiencies. Today, Sage, a provider of cloud business management solutions, is working closely with Paystand, the leading platform in blockchain-enabled B2B payments, in a partnership that makes B2B payments cashless, feeless, and intuitive.

What’s happening in the B2B marketplace

If you look at your personal life, it’s probably extremely clear that the world has accepted digital commerce. You’ve probably purchased many items online, paid bills through portals, and moved much of your daily errands to your smartphone.

However, that’s not always the case in the business-to-business world. Some B2B players are definitely moving in that direction, particularly smaller, tech-focused players. However, larger and middle-sized organizations that have legacy systems tied to newer technologies often find it difficult to truly digitize all aspects of their accounts receivable processes.

As a result, many larger companies are still paying steep credit card fees, struggling with unintegrated systems applications, and shuffling dozens of spreadsheets and cumbersome workflows. All of this results in higher operating costs, more human errors, and inefficient processes.

Consider that credit card fees by themselves can be an additional 3% cost for every transaction. In some cases, ACH transactions can take a long time and be vulnerable to mistakes, fraudulent activity, or security breaches. Some companies may insist on paying invoices the old-fashioned way: with paper checks. This request can mean additional steps such as managing incoming mail, manual processing, and physically depositing checks at a bank. Paper often results in misplaced payments, which can mean extra work for accounts receivable professionals to track down and locate these errors.

Although many solutions are available today, it can be difficult to effectively integrate these solutions into back-end ERP systems. This means that team members are stuck between multiple spreadsheets, software, and reams of paper while they are performing daily duties. This type of inefficiency can result in decreased employee morale and the loss of smart team members who want more challenges in their careers.

There are many opportunities to reduce cost and labor with integrated solutions from vendors such as Paystand and Sage. This partnership is reinventing the B2B payment and collections process for hundreds of companies today.

Best practices for Sage Intacct payments

Current Sage Intacct and Paystand customers have already embraced the following best practices and reaped the benefits.

1. Say goodbye to payment processing fees

More than 60% of all businesses still accept the majority of payments by credit card. Although credit cards make a great deal of sense in the consumer market, there is much less benefit in the B2B world, yet costs are the same and often much greater due to the number of transactions required in the business-to-business landscape. Regardless of the customer, credit card companies charge about 3% for every transaction. That can mean tens of thousands of dollars of lost revenue for a mid-sized company.

The Paystand-Sage solution, instead, allows companies to take zero-fee direct bank payments through the Paystand Bank Network. If businesses choose to use credit cards, debit cards, and ACH, they can do so at wholesale rates. Best practices help nudge customers to the lowest-cost payment option for the company by shifting transaction fees to the customer.

2. Collect payments faster

Companies frequently measure AR success with metrics such as the number of days sales outstanding (DSO), which essentially reports how quickly you get paid. The higher the DSO, the more cash flow issues and bad debt an organization may face.

Customers using Paystand with Sage make the collection process easier for clients, which plays a role in speeding up how quickly they pay invoices. Easy-to-use payment links and visible “pay now” buttons on invoices and email reminders eliminate the excuses to wait. Best practices include self-service options to select and pay invoices, and virtual terminals are available to process payments for customers through a system dashboard.

Securing fast payment on invoices means better cash flow and fewer human errors that may occur in manual processes.

3. Instant payment visibility

AR can seem like a living, breathing being at times with changes made constantly within the system. Being able to achieve visibility with real-time data as well as reconcile books quickly and easily improves efficiency, accuracy, and timely customer communication.

Instead of relying on individuals to manually move between different software platforms, paper, and spreadsheets, the automated nature of the Paystand-Sage service means reduced labor costs and frustration.

Best practices produce daily reconciliation of payments and bank transfers in real-time, including automatically applying partial and full payments to invoices and sales orders. Transfer reports and ledger updates are automatically received with details of deposits, transactions, invoices, and sales orders. In addition, refunds, fees, discounts, disputes, and adjustments can be seen clearly in the system.

Systems reports are immediately populated with this invoice data, which means more accurate information for decision making. Companies can see collected and pending receivables as well as receivables categorized by type or status.

4. Stronger security

Data security must be a key tenet of any best practice discussion. The Paystand-Sage solution puts data governance and security high in managing payments and AR for a company. It uses a PCI DSS Level-1 certified payment processor, enables two-factor authentication and role-level access, and securely stores customer payment data with Fund-on-File tokenization.

Businesses can be confident that both their data and their customers’ financial information is safe and is used only for making payments.

How it works

With a direct plugin for Sage Intacct, Paystand has a robust payment capability within the ERP solution. Multi-currency billing support is available as well. Here’s a step-by-step explanation of how the Paystand-Sage solution works:

  1. Provide an invoice to your customer from the Sage Intacct system, which has an embedded “pay now” button to facilitate quick and easy payments.
  2. When payers choose this option, they are directed to your privately labeled portal. Here, they are asked to choose a payment method. If they opt to pay with a credit card, they will be charged a 3% convenience fee. However, they will be encouraged to pay through Paystand’s zero-fee bank-to-bank network. ACH and other payment methods are available as well.
  3. Through this system, customers are highly incentivized to use Paystand’s direct bank-to-bank network, which eliminates credit card fees, postal time, lockboxes, and manual entries. The payment portal is integrated into the Sage Intacct system, which means making, posting, and reconciling deposits occur automatically.
  4. All payment information is now available in all relevant reports and dashboards for further analysis and consideration.

In addition, the Paystand-Sage solution allows scheduled payments, automatic alerts, and autopay and recurring billing options.

What best practices mean for customers

The Paystand-Sage solution utilizes Paystand’s B2B payment network and is integrated with the Sage Intacct cloud financial management system.

This means that companies can place receivables and revenue essentially on autopilot and collect payments instantly across the Paystand zero-fee bank network. This cloud-based system is more efficient and easier to use than the antiquated legacy banking infrastructure. It also boosts scalability and helps finance teams increase profit as well as improve cash flow.

Customers can generate smart invoices that have embedded payment options, which helps to streamline cash flow management with an automatic reconciliation of daily bank transfer information. Time savings generated through automated cash applications and the ability to easily reconcile deposits, refunds, disputes, fees, and adjustments add up quickly.

Getting rid of those high transaction fees alone can save companies nearly half the cost of receivables while increasing the speed of time to cash by 60%. That all results in faster scaling with growth and increased ROI.

AR morale can be boosted with fewer manual tasks, which can mean more fulfilling and challenging careers for team members and better employee retention for organizations.

Advanced merchant services such as recurring billing for subscriptions, virtual terminals, and built-in fee management controls are available for customer use as well.

It’s simple to extend your own brand within the Paystand-Sage solution as checkout, interface, and payment portals can be customized. Maintenance is minimal, and the system includes fail-safes for insufficient balances. Troubleshooting support and services are available to help customers that need extra assistance.


Too many companies are still stuck in an antiquated, legacy infrastructure and limiting banking practices, which means they are simultaneously stuck in unnecessary additional costs that hamper business growth. Customers who embrace these Paystand-Sage best practices will rise to the forefront of their industries, allowing them to delve into a more flexible financial landscape.

These best practices are shared to help you reduce operating costs and improve payment processes that can help you succeed and grow. If you haven’t already tried out Paystand, click here to get your free demo today.