Do you sometimes get to the end of the month or quarter and have to scratch around to find your GST, superannuation or subcontractor payments? Do you find it tricky to keep track of what you can spend and what needs to be put aside, when all your funds are sitting in a single account?
If this sounds familiar, PaySmart’s Proxy Payments can help and the great news is that we offer this service to all PaySmart clients.
So how does it work?
When we collect payments on your behalf from your customers through PaySmart’s direct debit billing service, we can funnel a nominated portion of these funds into a specific or alternate bank account. And not just one account—it could be multiple accounts with varying amounts—as long as you have the funds available to cover the transfers.
Our clients use these accounts to keep funds aside for things like leasing agreements, rent, commission payments to staff, superannuation, tax and GST payments, just to name just a few.
How do I set up a Proxy Payment?
To set up one or more Proxy Payments is really easy! Simply download the form from PaySmart’s client portal WebExpress (AD_120_Prox_Payment_Request), complete the details required and submit it to us, and watch the magic happen!
We know you’ve got enough on your plate juggling all that comes with running a business, so PaySmart aims to make managing the financial side of your business easier with services like our Proxy Payments—all at no extra cost.
If you have a question about setting up your own Proxy Payments with PaySmart, talk to a PaySmart Client Account Manager today.