Just realized my whole invoicing system was leaking cash for 2 years

I was talking to my buddy Dave who runs a landscaping business in Pittsburgh. He mentioned he uses Wave for invoicing and I told him I use PayPal invoices. He said 'dude check your fees, I bet you're losing like 3% per transaction'. I went back and crunched the numbers from last year and he was right, I paid over $1,100 in PayPal fees I could have avoided. Has anyone else switched to a cheaper invoicing tool and regretted not doing it sooner?

3 comments

3 Comments

fionat555d agoProlific Poster

1100 in fees over two years sounds rough, did you look into how much of that was from customers paying with credit cards vs bank transfers? I've always wondered if the higher fees are worth it for the convenience since some clients hate dealing with ACH. Curious if you saw a big drop in people actually paying when you moved to a cheaper option.

the_olivia4d ago

345 a month just to take cards is steep fionat55, probably mostly cc fees since my dog walkers all wanted to swipe.

noahwood2d ago

Nah, the real killer is when those card payments get refunded or disputed.