RealBooks – an online accounting software – has now been integrated with Nimbbl – Accept Online Payments Easily

Overview

A quick receipt and easy tracking of invoices while offering a convenient customer checkout experience can be a boon for your growing business. RealBooks – an online accounting software – is integrated with Nimbbl, which sets up a convenient payment gateway for faster invoice payments. With this, you can generate payment links and share them with the customer who can then view all invoice details related to the dues and the amount that needs to be paid.

Individual bill payments or a lump sum amount from a debtor- everything is seamlessly handled with this feature. This payment gateway proves beneficial for both you and your customers.

The plus point? You don’t have to pay any extra amount to RealBooks. Nominal charges from Nimbbl may apply.

1. How To Use Payment Link?

All you need to do is set up a Nimbbl Account. Update the required KYC, and configure the Nimbbl ID to RealBooks. During the registration process in RealBooks, you’ll need to map the ledger to which entry will be auto-posted on every successful receipt. Generate a payment link, and share it with your customer. Payments can be made using this link.

2. How to Generate an Invoice Link?

Know what is an invoice link and the steps to generate an invoice link

An Invoice Link is generated for a specific bill of the customer. A customer is liable to pay only for that individual bill through the payment link.

To generate a payment link for individual invoices of a party, follow these steps:

Step 1: From Dashboard, Go to Reports > Accounts > Daily Reports > Ledger

Step 2: In the Search Ledger field, type the name of the party ledger, select the date range and then click on Search. The corresponding entries will appear.

Step 3: Beside each transaction entry, there is a Settings icon. Click on it and then from the options, click on Generate Payment Link.

Step 4: The Payment Link pop-up appears. At the bottom, the shareable link is available, it can be copied and shared with the customer.

Step 5: Alternatively, once the link gets generated, a mail is triggered to the party’s email id, with the invoice details and the payment link.

The customer needs to click on the link to reach the Nimbbl payment screen.

3. How to Generate a Customer Link?

Know what is a customer link and the steps to generate a customer link?

A Customer Link is generated to collect an amount for the total outstanding of a specific customer. Here, the customer is liable to pay the overall due to the vendor through the payment link.

To generate a Payment Link for the Total Outstanding Amount of a party, follow these steps-

Step 1: From Dashboard, Go to Reports > Accounts > Daily Reports > Ledger

Step 2:  In the Search Ledger field, type the name of the party ledger, select the date range and then click on Search. On doing this, all the entry details of the party will appear.

Step 3: To generate a Payment Link for the party, Click on Options that’s located in the top right corner next to the Search key.

Step 4: From the drop-down options, click on Generate Payment Link.

Step 5: The Payment Link pop-up appears. At the bottom, the shareable link is available, it can be copied and shared with the customer. 

Step 6: Alternatively, once the link gets generated, a mail is triggered to the party’s email id, with all due invoice details and the payment link. 

Ask them to click on the link to reach the Nimbbl payment screen.

4. Do Settlement

Once your customer pays the due amount, RealBooks auto-posts the entry on the same day. However, the amount is reflected in your merchant account (Razorpay or Cash Free, whichever merchant you have chosen) in T+2 days. On receipt, the amount is subjected to a few platform charges (refer to the Charges section for details).

The amount received is transferred from the merchant account to your bank account in a lump sum, the breakup report of which is available on the Nimbbl dashboard.

5. View Payment Link Report

You can track the generated payment links with the Payment Link Report. Whether the payment has been made by the customer using the link, the corresponding amount of payment done, and the balance due, all are listed in this report.

The links can also be deactivated by clicking on the setting icon beside each row.

Users can view this report Customer wise or Invoice wise and can track the payment status accordingly.

Additionally, an Export option is also available to download the payment link listing data.

To view the report, Follow the path-

Reports > Accounts > Daily reports > Payment Link


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6. Charges

Like every other payment gateway provider, Nimbbl charges nominal fees during transactions, the breakup of which is given below-

Mode of payment Razorpay Cashfree
CC Master/Visa/Rupay 1.88% 1.88%
Debit card Master/Visa/Rupay 0.45% (Less than Rs 2000); 0.95% (Greater than Rs 2000) 0.45% (Less than Rs 2000); 0.95% (Greater than Rs 2000)
UPI 0.15% 0.15%
All Banks (including HDFC/ICICI/Axis/Kotak/Yes) 1.80% 1.80%
Cash card & Wallet 1.80% 1.80%
Settlement Period T+2 days T+2 days
Platform Fee (Nimbbl Checkout) 1.15% 1.15%
Any additional charges Nil Nil

7. Account Creation – KYC

For completion of the registration process in Nimbbl, users are required to do KYC by contacting a Nimbbl representative. The following list of documents is to be submitted to the representative-

  • Proof for Business ID – Certificate of Incorporation
  • Proof of Business Existence – Company PAN
  • Proof of Business working – Current account statement for the last three months or whichever amount of time from the activation of the account. OR a canceled cheque copy
  • Proof of Identity of Business Owners and Authorized Signatory: Government-approved Authorized Signatory identity proof (Like Aadhar card/Voter Card/DL/Passport etc.)
  • Board Resolution / Authorisation Letter for the Signing Authority duly signed and stamped by at least two Directors / Trustee /Members
  • FSSAI Certificate for any food-related business

Alternatively, you can get in touch with us, we shall guide you through the entire process.

 8. Configuration in RealBooks

To configure the Payment Link, Go to Settings>Configuration>Accounts>Payment Link

Click on the radio button to activate the Payment Link

Once the payment link feature is activated, a dialogue box of Payment Link registration opens up. Here, you need to map the RealBooks Ledger to which you want the receipt to be auto-posted and add the Payment Key and Access Key provided by Nimbbl.

Once the data has been filled, click on Register.

Note: The Payment Key and Access key are the unique ids provided by Nimbbl.


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9. RealBooks Posting

Each time a payment is made using the link, the receipt entries will get auto-posted to RealBooks.

All you need to do is choose between the below-mentioned 2 options, and do the setup accordingly.

Option 1: Map the bank ledgers in the payment link registration.

Here, the amount paid by the customer will be directly posted to the bank ledger. The auto-posted entry to the books will be-

Bank A/c — Dr

To Party A/c

Narration: Being Amount received from (Customer Ledger Name) against bill numbers (invoice numbers that have been tagged)

Option 2: Map the Settlement ledger in the payment link registration.

In this case, the amount paid by the customer will be posted to the Nimbbl settlement account. The auto-posted entry to the books will be-

Settlement A/c — Dr

To, Party A/c

Narration: Being Amount received from (Customer Ledger Name) against bill numbers (invoice numbers that have been tagged)

If the user opts for Option 2, then they need to square off this settlement ledger with the Bank ledger. So, here they need to manually post the following entry to settle the books –

Bank A/c — Dr

To Settlement A/c

10. Expiry of Links

The payment link expires under the following situations-

  1. If the payment has been made using the Invoice Link
  2. If full payment has been made against the Customer Link
  3. On manual deactivation of the link via the Payment Link Report
  4. When the link has reached its default deadline. The default timeline for the expiry of links is 7 days i.e. Link Generation Date+6days

Days of troublesome payment management are over. RealBooks gives you the freedom to send your payment link to the customers with a click and very little time. Manage your finance effortlessly. Forget all your worries and switch to a new digital future. Choose RealBooks – the best cloud-based online accounting software and enjoy hassle-free data management. Switch to RealBooks!

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