This is one of those technical questions that is vital to answer when you're first starting and launching your business. The first thing to consider is what form of payment you will be receiving. When I say form of payment I mean the method or process you will create so that your clients can pay you. You could be receiving payment via a check, direct deposit, credit card, or even an app! (Typically, you won’t receive payment via cash.) For business tracking measures, the first three are the most common methods. 

When you're just starting in your business, it's going to be hard to know what the best way to receive payment is for you. Here's a couple of things to think about to help you narrow down which form of payment you’re most likely to receive in different situations. 

Organization Contracts

When I say organization contracts, I mean business-to-business (as opposed to business-to-client). These contracts are usually made via check, though there are some organizations who have moved to paying via direct deposit. 

In those instances, you’ll need a business bank account to deposit the funds into. 

Individual Clients

When I say individual clients, I mean business-to-client. In these instances, you are likely to receive payment via credit or debit card. To receive payment via card, you’re going to need two things: a payment processor, and a checkout system.

Payment Processor: This is literally a system that's going to process your payment. The two most popular ones are Stripe and PayPal. Most folks have experience with PayPal as a payment processor because it's one that you can use personally, but you’ll need a business account in PayPal in order to receive card payments. 

Checkout System: A payment processor and a checkout system are not the same thing. When I say checkout system, I’m referring to the page people go to, to check out. This is the page where they enter their name, email address, and card number. Once they hit the ‘Submit Payment/Checkout’ button, then their payment is processed through your integrated payment processor (Paypal or Stripe).  

Now, you can leverage Paypal as a payment processor and a checkout system as that is a feature they offer. Stripe is more complicated. Let’s just say that if you don’t have a coding background, you’re going to want to stay away from using Stripe as a checkout system because they require you to build it yourself.  

Below are a few Checkout Systems you can use. Remember these are dependent on your service model. There might be other systems that would feel more appropriate: 

• MoonClerk

• SamCart

• ThriveCart

  Some scheduling services also have an embedded checkout system that you can connect your Stripe or Paypal account to: 

• Acuity

• Calendly

If you have an online course, you may want to think about utilizing the checkout feature offered by that service:

• Teachable

• Kajabi

Again, your decision should be dependent on your service model. Once you know your service model, you’ll be able to find actual tools that work for you, and they might already have an integrated checkout feature. 

For my business model, I use SamCart as my checkout system and Stripe as my payment processor. Though I have a few Teachable courses, I don’t prefer their checkout system which is why I use SamCart. I also schedule one-on-one’s with Acuity, and I use their checkout system. 

Those are just a few things you want to be thoughtful of when determining how you will accept payment in your business.

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