Tuesday, July 16, 2024
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HomeBusinessEconomyTD online accounting to provide integrated payment services to small businesses

TD online accounting to provide integrated payment services to small businesses

By Caribbean News Global fav

NEW JERSEY, USA – Beyond the ability to help businesses get paid faster, TD Online Accounting allows TD’s eligible business customers is the launching of TD Online Accounting to provide a convenient, integrated payment and accounting experience for its small and closely-held business customers to conduct banking and bookkeeping activities through TD’s Small Business Online Banking platform.

TD Online Accounting uses the technology of Autobooks, an integrated accounting and receivables platform that allows business owners to get paid faster by settling credit card and electronic payments directly in their TD Bank business checking account. Accelerating transaction settlement times is especially important for businesses as they seek to maintain a healthy cash flow because of COVID-19.

“Many business owners are constantly juggling numerous activities to keep their businesses running smoothly. TD Online Accounting takes away much of the administrative tasks of one of these critical activities – reconciling books and accounts – and empowers business owners to keep track of inflows and outflows more efficiently. Most importantly, this new tool allows business owners to have more time to serve their customers,” said Chris Giamo, head of commercial bank, TD Bank. “TD Bank is committed to helping small and closely-held businesses maintain and grow their businesses through effective, innovative solutions and a convenient banking model. The addition of TD Online Accounting demonstrates this commitment, especially during these extremely challenging times, where every transaction and payment is critical.”

TD Online Accounting helps businesses increase and accelerate their cash flow by providing a self-service, digital onboarding experience to help business owners get paid electronically. As a payment facilitator, Autobooks enables a business to begin invoicing within moments of enrollment and to start processing payments shortly after.

“TD truly understands the needs of our business customers and providing them with a payment and accounting service that simplifies their banking experience and enhances real-time access to funds addresses business owners’ concerns about getting paid in full and on time,” said Rick Burke, head of corporate products and services, TD Bank. “TD chose to collaborate with Autobooks to develop this service due to its comprehensive knowledge of small and closely held business operations, a proven track-record of working with financial institutions and the strength of its business model.”

”TD Online Accounting marks the beginning of a new era in banking convenience,” said Steve Robert, chief executive officer and co-founder of Autobooks. “Similar to how bill pay and remote deposit capture made business banking more convenient, accepting online payments and automating accounting are enhancements needed for today’s small business and we couldn’t be more pleased to work with TD Bank to help support its business clients.”

TD Online Accounting users also can access dashboards with real-time data and insights on their business’ health through their TD Small Business Checking Account, the bank said in a Monday, August 17, press release.

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