Plooto is een end-to-end platform voor automatisering van de worfklow van de crediteuren- en debiteurenadministratie voor boekhoudprofessionals om hun crediteuren- en debiteurenpraktijk te schalen.Meer informatie over Plooto
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Entreflow Consulting Group's use of Plooto
Opmerkingen: Plooto has certainly helped us from a workflow perspective, it's pulling your payables from your Quickbooks or Xero account into Plooto so you can see all the payables that you need to deal with and when they're due. And there's a whole bunch of approval processes you can put in place for internal controls perspective so make things a lot more bulletproof than just manually writing checks and doing e-transfers.
So you can currently do pre-authorized debit, pre-authorized credit receivables in U.S. dollars and Canadian dollars which is super kick-ass. It's also made some of our clients lives a lot easier if they've got clients in different countries, and it gives their clients flexibility to pay in debit or credit. Also, as far as the amount of time it takes for that cash to clear your bank account; it's faster than Stripe, and on top of that the integration with Quickbooks makes it a lot easier to manage the fees, unlike Stripe.
We'd love to see more international payments to more countries just for some of our clients that have people they're paying in lots of different places around the world. As well, with the international payments, if a client has a lot of companies that they're paying in the U.S. for instance if you get really costly really quickly. So I'd like to see some bulk discounts for high volume payments to the U.S.
Our EFT provider of choice
Opmerkingen: Our objective was to automate payables, and Plooto has been great for that purpose.
We're a Quickbooks shop, and we *love* the integration. Virtually all of our clients are using Plooto for payables, and some for receivables. In terms of pricing, the package is advantageous for most of our clients. Some of the tiny ones would spend less on regular bank fees -- but the convenience still makes Plooto a good option. The interface is clean and user-friendly. Our clients love the signing authority "tiers." We're working with nonprofits, so there's always a board of directors to consider -- and therefore multiple signers. It's not uncommon for orgs to specify who needs to approve organizations over certain limits, and Plooto gets us there with no fuss.
We still have issues with some vendors not being serviced by Plooto, e.g. credit card companies. The ability to send payments internationally through Plooto is great, but we sometimes experience issues with foreign banks. On the signing authority front, it's possible to do an "end run" around banking agreements by authorizing people on Plooto that aren't authorized on the bank account. We need to do our due diligence on that, to ensure payments are authorized only by signing authorities.
It appears to have it all until you use it.
Opmerkingen: Not Good. Really ambitious to make it work I like the concept but they make it very hard to be a client.
I like that it can process both bank or credit card payments for receivables. It can provide automation too but unfortunately it didn't work for me. I like the price. And I like that it linked into xero. It appears to have it all until you use it.
1) Its not easy to use, no introduction. 2) the automation component never worked for me I know I had to get PAD on but I wanted it on for some clients off for others and this was not an easy thing to set. It also doesn't allow me to store the credit card something like Quickbooks online I had in mind but this is a complete oversight to the program. I guess if automation actually worked then this could solve this issue. 3) Ya I was very confused but when my clients couldn't figure it out either, some ended up with duplicate payments pulled from their accounts etc. No help to fix very embarrassing. 4) their live chat is not live. You ask a question and wait. Fine to get started but even in the middle of conversation to deal with issues they just disappear. The conversation is not live. Sometimes they don't even read my questions which makes me think not a real person is helping me. 5) Money holding ridiculous! If a client due date on invoice was 30 days and they paid me next day I had to wait until what my invoice said for due date on payment. Plus when money drops into my account there is no PLOOTO ID on the deposit. Very confusing for trying to reconcile. 6) Plooto reconciled in Xero in its own little account but doesn't reconcile with the bank account. Weird and confusing.
It's easy and quick to use, but it's missing a key integration that would make it perfect.
Opmerkingen: Overall a good experience, but it's missing a key integration that would make it perfect. I can't wait for them to bring back credit card payments and I hope they expand the integration capabilities.
Plooto integrates with QBO and make syncing receivables and payables easy. It reconciles the payments which saves a lot of time. The customers and suppliers receive an email that tells them about upcoming payments and a link that takes them to this information plus shows them the past transactions.
I've been using Plooto with one client for about a year now and would like to move other clients to this system. Unfortunately, Plooto doesn't work with QBO's projects and sub-customer system. Each time I’ve tested collecting these receivables, Plooto says the customer doesn't exist and wants to create a new client even though the client does exist, it's picking up the project or sub-customer name at the end of the client’s name. If Plooto’s system can recognize the customers name before the ":" to allow collection of accounts with multiple project or sub-accounts I would be able to move more clients over to this system.
Integral Software for Accounting
Opmerkingen: My experience has been very good! Been very happy with product in the past few years that I have been using it for my clients.
I like the integration with QBO and that it makes it easy for me to process payments with the appropriate checks and balances of approvals. The software also helps in confirming whether the bank information being provided is valid or not. So easy to use!!!
The only Con that I could think of is that it becomes a bit expensive for those that have very little transactions monthly where the fixed monthly fee does not get fully utilized.
Fantastic option for an accounting firm!
Opmerkingen: Very positive and highly recommended
We've transformed our accounting firm from traditional "after the fact" billing and collection, to a monthly recurring fee model using Plooto. It has automated one of the most painful parts of running an accounting firm. Our clients love to do their own Receivables, Payables and CRA payments using Plooto.
Reports functionality is lacking It takes time for clients to get a hang of it initially when setting up PAD.
Great financial software for small and mid-sized organizations
Opmerkingen: We use the software for payment of invoices including external vendors, staff reimbursements, and payroll. Works perfectly for us. Just a few clicks and there are adequate checks and balances features to ensure accountability and security.
As a small association, with few vendors and accounts payable/receivable, the software works very well for us. While I'm sure it can also be used for larger organizations and may have lots of advanced functions, the core user interface, notifications, integrations and other features are perfect for our smaller organizations. No unnecessary complications.
I suppose if anything, if you need to reverse a payment already in process it can be a bit of a challenge but have only experienced that once.
Makes everything easier and more transparent
Opmerkingen: For us, we moved over to Plooto after it was highly recommended by our Board and vendors. Having made the move from cheques to electronic payments not that ago, we didn't realize that payments could actually be very simple. The pandemic has made other platforms more difficult to use because they're often kept on one computer and managed by one person which makes contingencies and redundancies impossible.
We haven't been using Plooto for very long but the setup was incredibly easy. I think the best feature is that payments are very clear with the invoice attached as well as pathway and dates for the payment process. Everything is also very easy to use and transparent and the fact that it's on the cloud means everyone who needs to access it can without having to be at a particular terminal or computer. This feature alone increases financial transparency.
Understanding the different roles and needs took a little longer than expected but that wasn't hard. I'd love to be notified when approvals are made and payments are processed.
User friendly but wished that Accounts receivable had more options
Opmerkingen: The problem that arises is that we as a small organization end up paying for two software because some of our vendors pay by credit card so we are spending more money on Plooto.
Multiple options for accounts payable which makes it easy set approval tier and to transfer funds
I highly recommend that Plooto starts accepting payments via credit card or email AR. While this is an option for AP it should be implemented for AR too. Secondly as a 4 member organization we wished there was a non-profit pricing range.
Opmerkingen: None of my clients use cheques and rarely any other mode of payment. Plooto could improve the approval process, however.
Plooto synchronizes with QBO pulling in all unpaid bills. Paying suppliers is done simply by ticking the unpaid items particularly if you have set up the supplier in Plooto with their banking information. If not available an e-transfer can be made or Plooto will solicit this detail from the supplier for you. Collecting outstanding receivables in QBO also works very nicely although some clients are suspicious of the solicitation. USD payments and rapid payments are also available if Plooto is prefunded, otherwise a fee is applied.
The payment interface with QBO was not well thought out. The first step initiates a payment and a designated approver will then have to approve the payment. Plooto immediately marks the bill as paid in QBO. The approver often delays in approving payment due to cash flows or disagreement. Running a balance sheet or payables listing in QBO is misleading since items have been removed as 'paid'. Putting the bills back into QBO as unpaid means deleting the initiated payment in Plooto and manually deleting the payment if QBO. This often leads to mistakes if there are large volumes and a busy schedule, sometimes resulting in double payments . In spite of the claims by Plooto the balance showing in QBO often become irreconcilable resulting in a write off. Plooto does not import credit amounts resulting in overpayments. The resolution to this by Plooto to this issue is extremely simple. Do not mark 'initiated' payments as 'paid' only 'approved' payments.
Opmerkingen: I am striving to keep my payment processing costs as low as possible. As such, I've stuck with Plooto and have tried to have as many clients as possible do ACH processing. However, more and more clients are requesting to use credit cards, and many are okay with paying a surcharge for processing fees. Plooto does not accept credit card payments, and I would prefer to have a one stop shop for payment processing. I was happier when it was a flat $1 fee per ACH, I'm now paying much more per transaction due to the flat $25 per month fee and the small amount of clients I have who are still willing to do ACH payments.
If you're looking for automatic draws, it works well. Syncs with both QBO and Xero.
If your client doesn't have all of the funds in their account, you won't be notified. Plooto will draw what it can and you'll have to log in to look to see who failed to pay in full. Pricing is okay. You're essentially charged $2.50 for ACH. If you're using QBO, you may as well just use their ACH payment processing as it's cheaper. If you're using Plooto to pay a client (a refund, for example) it isn't automatic. You have to set them up again, and they'll have to guess a password to accept the funds you're transferring to them. It's bizarre that you can take money from them, but can't send it to them.
How Plooto Saved Me
Supporting associations with multiple signatories this has been a world of difference in my process flow and the quality and timeliness of payment processing. Each of signatories is set up and whosh off go payments. Was for several years using postal services or meeting in person. A couple of postal strikes later during which i felt i was losing the plot. Labelling/addressing envelopes (small operation so no stamps or administrative assistants), going to post office. And same on the other end for the receivers. Also had a situation of a missing cheque and bank account fraud as well. Am sure it was a payment to service provider that disappeared. Suddenly draws to the bank account are coming from all over Canada for large amounts. And then I bumped into Plooto at a QBO Conference...LIFE CHANGING. Not to speak of today's world where I'm limiting as much errand running as possible.
Used to be support was on phone live. really hate the chat funciton, somehow my descriptions never get captured by the feed, they receive blanks on support end. So it is really a pain. don't know why and know it must be a set up thing but have not been able to solve.
Great system for small businesses and non-profits.
Opmerkingen: Overall its a great system and we have moved the majority of our clients over to it. There are some limitations but they just require a work around.
It is great for tracking the approval process for payments and providing an alternative method of payment for invoices.
Customer service has been a struggle for us. It is hard to get in touch with someone when we have questions or concerns. It would be nice if there was a way to receive approval for payment but to submit the payment offline. Sometimes payments need to be submitted by credit card or paper check and we cannot use the system for tracking approval for those.
I saved hours of work and thousands of dollars using plooto
Opmerkingen: Overall I'm very happy with Plooto, will continue to use it and encourage other business to use it.
It's way cheaper than credit card fees and saves time over cashing cheques.
Some payment changes can take a little longer than I feel they should. I tried to cancel a payment that was to be debited later that day. It still went through because it was too short notice.
Excellent software overall
Opmerkingen: Plooto allows easy and painless payments for businesses with a high volume of bills at a reasonable cost. It's pretty user friendly, although there are some advanced user tips which are hard to learn about.
We set up all our high volume AP clients on Plooto for ease of payment, self reconciliation with QBO and ease of troubleshooting. We queue up the invoices and they get send to the account owner for approval. Then Plooto marks the bills as paid.
I wish there was an approval process ahead of time, not only at time of payment. You will also need to do a manual entry to apply any CRA payments as Plooto will not know how to apply it for you - I wish there was a tool that could map the CRA payment to the right balance sheet account when you pay. If a payment is rejected or not accepted, Plooto does not notify you - it takes some monitoring and troubleshooting to find payments that were not accepted. There should be an email advising the user. The training is minimal, but should include tips on how to pull and export the bank data for analysis, I only learned of it from support which is a waste of Plooto's resources.
Plooto is a simple AP and AR tool that also makes it easy to pay across borders.
Opmerkingen: I mostly used it for AR purposes across the U.S. and Canadian border.
It's simple, and that point needs to be kept in mind. The interface is intuitive and it syncs with popular accounting programs like QuickBooks Online. The best part of the program (in my opinion) is the AR function that allows you to set up a recurring ACH payment from clients for a flat fee. Depending on the size of your invoice this could save you some money in credit card or bank processing fees. Also, you can do ACH payment from a U.S. bank and deposit the funds in a Canadian bank account. It is a pretty cool feature that puts them above Bill.com. It also doesn't carry the monthly fee of Bill.com.
It takes way too long to send money across borders. My experience is with the Canadian/U.S. border. It took nearly two weeks from the time that the client authorized the payment until it was deposited in my account. Also, if you are using Plooto for a foreign currency exchange service much better rates can be found elsewhere. If you are using Plooto instead of Bill.com and need all of the permissions or invoice scanning functionality, don't expect it. However, if you want a simple AP and AR tool with an added bonus of being able to make and receive payments across borders, and you aren't time crunched to make or receive a payment, then Plooto is a great inexpensive option.
Turnkey, easy to use accounts payable solution
Opmerkingen: It's been a tent pole product for us as part of our finance activities. Highly recommend to any organization with daily payment needs.
Plooto makes it very easy to pay suppliers and vendors. If you can get your bills from Xero or your accounting software, its just a couple of clicks away to create payments. The additional approval workflow features are great for scaling up and delegating Accounts Payable and setting limits on payment types. Plooto Instant is also a very handy solution for last minute payment needs, we always keep funds there for our staff.
A better/more open API so we could programmatically create new payment contacts or set Email Transfer passwords, but honestly that's nit-picking. The functionality provided is more than enough for 99% of businesses.
Plooto Works Great
Opmerkingen: Good customer service and very functional software.
Plooto has the functionality and the security that I need for my clients. It works well and require little time for my clients to approve.
I wish they went back to the per payment pricing they had before. It worked better for my client who pays maybe 5 one month and then 50 the next.
Opmerkingen: excellent software, very easy to setup and use
Ease of use, easy setup and integrated well with the Xero software
Fees per transaction increased this year
My reliable assistant
Opmerkingen: I have found the software to be reliable and easy to use. But more importantly, I have found the support team to be responsive and genuinely interested in solving problems.
Plooto is my AR/AP support system. It does the work as expected, when expected and in my business, reliability is a top quality. I couldn't imagine running my business without Plooto on my team.
I have requested the platform be modified to be more accessible so that my sight impaired customers can benefit from the value Plooto can offer.
The accounts payable functionality and clear audit trail have been fantastic. It is a useful software for our firm and our clients have definitely benefited from the implementation. I definitely recommend Plooto to anyone that would benefit from it.
I think there are some flaws with the software regarding international wire transfers as well as with the tier set up that need to be sorted out. We have had to manage some issues with clients as a result of these flaws. Overall, I have been extremely satisfied with the software/cost and I am confident that it will continue to improve.
Integration was smooth and easy to use. It has saved time, organized files with a clear audit trail, eliminated a number of potential mistakes which can happen through manual entries.
Approval tier set up is very poor. Having a global tier and specific bank tier are great, but there should be clearer instructions that setting up a tier on a specific bank will supersede and eliminate a global tier. When the amounts on the tiers are completely different one should not impact the other. Eg - Bank tier - 0-1,000 requires X approvers and Global Tier 1,000.01 - unlimited requires Z approvers. The global tier should not be ignored since the amounts are completely different.
It's alright, the integration with Xero is a bit iffy.
Opmerkingen: It's alright. Not great. Not bad. Nothing to write home about.
It's affordability and versatility. The ability to have people on ACH subscriptions is a large plus
No option to accept credit cards. The rigidness of the PAD form and not allowing us access to the PAD form in the event that we want to move to a different platform. Not easy to add new vendors without adding an inconvenience to them.
The cheapest tool to get your invoices paid.
I've been using Plooto for a little under a year now and it is incredible, it sync's directly with quickbooks and allows me to get my domestic invoices paid for under a 1$ per transaction! The flat-rate fee is a game-changer for me, and means I don't have to pay Stripe's 2.9% transaction fee every time.
Two downsides: - With QuickBooks recurring transactions, you can't sync a recurring transaction with a recurring receivable in QuickBooks so Plooto marks each recurring transaction as paid, you have to do this manually. - Payment times can be anywhere from 3 - 7 days which is a little slow. Stripe offers instant payout which is a game changer. If Plooto could also offer instant payout for a flat rate that would make this software god-tier.
Opmerkingen: While not perfect, Plooto has been great for us to help clients manage their A/P at scale at fees that are lower than the banks charge.
I like that it is easy to use, integrates with our accounting system, and allows us to manage A/P for clients at scale without using cheques.
The 4-day turnaround time to settle payments is the biggest pain-point. The new fixed-fee monthly pricing model is inconsistent with how users are actually transacting on the platform, the previous model was much easier to explain to clients. Customer service is a bit slow and we've been charged incorrectly multiple times, which takes them several weeks to resolve for each one.
My Review of Plooto
Opmerkingen: I am excited that it provides a secure way to establish multi approval payments. As a contract bookkeeper with many clients, I consider this to be an important issue.
I like that the software allows for the bookkeeper to set up all the vendor payments so all the client has to do is approve. I also like how user friendly it is for vendors who are getting paid for the first time. When I contact a vendor and tell them they have to create a login/membership for yet another software I can get some push back. But the vendors find it very easy to use and that makes my job easier and more efficient. I like how it allows for ach payments without having to ask vendors to email me their sensitive financial information. They receive a link and can enter it themselves.
I don't like how long it takes when a customer wants to pay my clients with a credit card. I think it took more than 2 months to process into the bank so I've stopped using that function all together.