Autobooks

Autobooks is a comprehensive financial platform designed to streamline payment acceptance, invoicing, and accounting for small businesses and non-profits. By integrating directly with a user’s existing bank or credit union’s online and mobile banking systems, Autobooks offers a unified solution for managing financial operations without the need for multiple third-party applications.

Key Features of Autobooks

Online Invoicing

Autobooks enables users to create and send professional invoices directly from their online banking interface. Invoices can be customized with the business’s branding and sent via email, providing customers with convenient online payment options. This feature also includes tracking capabilities to monitor the status of invoices and send reminders for overdue payments.

Payment Acceptance

The platform supports multiple payment methods, allowing businesses to accept credit card, debit card, and ACH (Automated Clearing House) payments. Payments can be accepted through various channels:

• Payment Links and QR Codes: Businesses can generate unique payment links or QR codes to share with customers via text, email, or on their website, facilitating easy and secure payments.
• Tap to Pay on iPhone: Autobooks offers contactless payment acceptance directly through an iPhone, eliminating the need for additional hardware. This feature supports payments from physical cards, Apple Pay, and other digital wallets.

Accounting and Bookkeeping

Beyond payment processing, Autobooks provides essential accounting tools tailored for small business owners. Users can track income and expenses, manage cash flow, and generate financial reports such as profit and loss statements and balance sheets. This integration simplifies financial management by consolidating these functions within the banking platform.

Integration with Financial Institutions

Autobooks partners with banks and credit unions to embed its services within their digital banking platforms. This integration allows small business customers to access Autobooks’ features directly through their existing online and mobile banking interfaces, ensuring a seamless user experience. Financial institutions can choose between two integration options:

• Embedded Integration: A quick-to-market solution that incorporates core Autobooks features like invoicing and payment acceptance into the bank’s digital platform.
• Enterprise Integration: A more comprehensive integration that includes additional features such as accounting, reporting, and cash flow management, providing a full suite of financial tools for small business customers.

Security and Compliance

Security is a priority for Autobooks. The platform automates the secure collection, storage, and usage of customer data for onboarding and payment processing, ensuring compliance with industry standards. Autobooks is a PCI-compliant service provider and adheres to SOC 1 Type 1 and SOC 2 Type 2 data processes, safeguarding sensitive financial information.

User Experience and Accessibility

By integrating directly with financial institutions’ digital banking platforms, Autobooks offers a cohesive and user-friendly experience. Small business owners can manage their finances, send invoices, accept payments, and generate reports all within their trusted banking environment. This consolidation reduces the need for multiple applications and streamlines financial management tasks.

Conclusion

Autobooks provides a robust solution for small businesses seeking to simplify their financial operations. Through features like online invoicing, diverse payment acceptance methods, and integrated accounting tools, Autobooks enhances efficiency and cash flow management. Its partnerships with banks and credit unions ensure that these services are accessible directly within existing digital banking platforms, offering a secure and seamless experience for users.