PayPal Merchant account and payment processing for small businesses

Although PayPal is commonly seen as an eBay tool,as it is a payment processor that buyer and sellers use to safely process transactions for online auctions and sales via the eBay network and ccasionally, PayPal users will use their accounts in other online check outs or to receive payments from online businesses in exchange for their freelance services. In common conception PayPal is still really pigeonholed as a eBay tool.

As the US economy begins its inevitable decline, many out of work professionals will attempt to subsidize their lifestyles by offering their skills and experience to the online community. Many will attempt to begin their own small businesses or perform freelance jobs within their fields.

Many small businesses have survived for years without ever utilizing a credit card processing program. Many have looked into the feasibility of setting up their own merchant account via credit card processors and were stopped in their tracks by high up front costs for software and processing equipment or failed to pass rigorous credit checks and irked by paperwork. Most serious businesses understand the boon credit card processing abilities can be for their business, the ability to say that your enterprise accepts all forms of payments removes many barriers to boosting sales volume and extending ones services to a much wider audience.

Whether you are an existing business or an upstart freelancer, here is the PayPal trick that will lead to higher sales, increased cash flow and an infinitely more professional appearance.

PayPal Invoicing

You can send professionally formatted invoices via your PayPal account to any of your customers, whether your a babysitter,event planner or a consultant, this tool will greatly benefit your business productivity.  

Of course, you will have to have a PayPal account in order to do this.

Log in to your PayPal account.

Go to the third tab on the top titled Request Money

You will notice a faint option next to the default option that says

Create an Invoice You guessed it, Click it.

You will then have an option in a drop down menu that says New template, if you had previously used the option you would also have saved templates as an option. After selecting this window , an invoice template will appear with your preset PayPal addresses and information prefilled, merely add your line items and local sales tax( if relative) and your all done , a professionally formatted invoice that will allow you to collect payments from your clients regardless of whether they have a PayPal account themselves. You then hit continue on the bottom and voila, you will see your completed invoice, hit send and wait for your money to arrive!