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Download your Tax Statement in a few clicks

As a business, you can likely claim your credit card processing fees as a tax deduction at tax time. The good news is, this is very easy to do using B2Bpay. Simply login and in a few steps you can get a printed statement, download an Excel file or import a file into your Accounting software system (Xero, MYOB etc).  Then all you need to do is share with your Tax Accountant.

Instructions

  • Log in to B2Bpay
  • Click the “View Payment History” button on your Dashboard
  • Once there – select the dates you would like to view (eg. for this financial year you would select 1July 2018 – 30 June 2019)
  • Then select how you would like to download the statement. You will see 3 buttons: Print Invoice, CSV Download and OFX Download (see details of each below).

Print Invoice

This option gives you a printed Statement which shows your customer tax invoice summary

CSV Download

This option allows you to download a CSV file which you can then open in Microsoft Excel

OFX Download

This option allows you to download an OFX (Open Financial Exchange) file, which is a text file containing payment data. You can then import this file into your Accounting Software package (such as Xero or MYOB). See instructions for importing into Xero here, and MYOB here.

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Top tips for Australian businesses this EOFY

End of Financial Year can be a stressful time but there’s some great tools and incentives for Australian businesses to take advantage of this year.

Kevin Butler, General Manager of Australia’s leading payment solution provider Zenith Payments has shared his top tips for this End of Financial Year.

Kevin Butler’s top five tips for Australian businesses this EOFY

 

1. Think about what purchases you could make before 30 June – and use B2Bpay to pay by card so you can ‘buy now, pay later’ as your card statement won’t be due until next financial year.

2. Read up on the now $30,000 instant asset write off scheme – the threshold was recently increased to $30,000 so take advantage of this before June 30 this year.

3. Check out Corporate Prepaid Gift Cards,  which is a great way to use up marketing budgets with branded pre-paid credit cards you can use to reward staff or customers in the next financial year.

4. Use B2Bpay to pay for all business purchases and:

  •  Reduce cash flow concerns by using your credit card’s up to 55 days interest free period;
  • Earn credit card reward points;
  • Pay ATO bills and earn full credit card points;
  • Receive Qantas Points on EOFY purchases and all other expenses

5. Get some advice from your accountant and check out how your business can benefit. You can even earn credit card and Qantas Points when you pay your accountant using B2Bpay!

“The end of financial year is a great time to do some shopping for your business. Businesses can take advantage by maximising tax deductions before the end of year. What’s more, the government’s $30,000 instant tax deduction initiative is a great tax break for small businesses.”

“Cash flow can often limit the ability of businesses to take advantage of these tax breaks. That’s where B2Bpay comes in by allowing you to use your credit card’s interest free days to hold your cash longer” says Kevin Butler, Zenith Payments General Manager.

“Powered by Zenith Payments B2Bpay is an innovative solution that allows small businesses to pay all business expenses via a single, secure online portal.”

“Using B2Bpay will negate the usual loss of points that occurs when paying the ATO directly by credit card. Instead our customers are rewarded with a much-needed silver lining at tax time with full credit card points and additional Qantas Points too.” adds Kevin Butler.

With B2Bpay, business owners can maximise credit card rewards on all payments in addition to boosting cash flow, productivity and tracking of business expenses.

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How to add a ‘Pay Now’ link on your Xero Invoices

You now have your own branded Payment Page set up with B2Bpay, where you can easily accept credit card payments online. What’s more,  both you and your customers will be rewarded with Qantas Points when payments are made through this page.

And if you use Xero to invoice your customers – the great news is you can set B2Bpay up as a payment option and your customers can simply click ‘Pay Now’ from your invoice and be taken to your Payment Page with the amount and reference already pre-populated.  Simply follow the instructions below to set this up.

Instructions

Step 1

Log in to Xero

Step 2

Click on your Company Name drop down on the top left hand side, then click on ‘Payment Services’ and select ‘Add Payment Service’

Step 3

Select ‘Use a custom URL’, and enter the following details and then press ‘Save’

  1. For Name – type ‘B2Bpay’
  2. For Your Custom URL – cut and past this URL into the field:
    https://pay.b2bpay.com.au/BUSINESS?paymentamount=[AMOUNTDUE]&customerreference=[INVOICENUMBER]
  3. Once pasted, replace the word ‘BUSINESS’ in the above URL with your merchant code. For example if your payment page address is pay.b2bpay.com.au/ABCBusiness, then replace ‘BUSINESS’ in the URL with ‘ABCBusiness’
  4. For Pay Now Text – enter what you would like for the text on your invoice. For example “Pay now by Credit Card

Step 4

Once this has saved, go back to ‘Settings’, then ‘Invoice Settings’ and in ‘Options’, select ‘Edit’

Step 5

In the field ‘Payment Services (Credit Card)’ on the right hand side, select ‘B2Bpay’

You’re done!

Your invoices will now include a link for customers to:  View and pay online now  using B2Bpay.

This link will bring them to an online version of the invoice with a payment link.

The amount and invoice number will be pre-populated.

Instructional Video

We’ve also put together a short video which takes you through the above steps

Need further help?

Email us info@b2bpay.com.au  or  call: 1300 205 575