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PayPal.com – The Great Small Business Tool

Posted by TopOfTheThread on June 21, 2008

If you are running a small business, you should consider using paypal for your account payables.paypal finance solution for small business

It is less expensive than using an outside service or having your finance person (or department).

We use it to disburse prizes as well as pay contractors. We had over 100 contractors who we paid via paypal All our prizes were paid via paypal.

We simply uploaded a tab-delimited file using the Mass Pay option, and it was done in a minute. Mass Payments cost just 2% of the payment amount with a $1.00 USD cap. (https://www.paypal.com/us/cgi-bin/helpweb?cmd=_help)

To print and mail checks will definitely cost you more than $1.00. You just need to tell your vendors you will be paying via paypal. Everyone has heard of paypal. It takes only a few minutes to set up an account (if they do not already have one.)

The only suggestion or improvement I have regarding the product. If they would manage 1099’s for businesses, it would be the ultimate business tool.

But overall, it’s quick and easy. It’s worth at least investigating using it for your business.

(photo paypal.com http://www.23nlpeople.com)

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