Editor's Note: Our editorial feature topic for January is "Making Payments." During the month, we'll post numerous articles on accounts payable and other payment topics for QuickBooks Online and QuickBooks Desktop. Because of the number and complexity of apps, we'll cover these in our "App Aware" format. Look for these features interlaced with other regular and new bylines from our contributing authors.
SHTAR® is a B2B payment processing solution that interfaces QuickBooks with bank payment platforms. As a result, you will achieve significant automation and elimination of manual processes related to your payables and achieve substantial enhancements for yourself, your bank and your payees.
- The SHTAR™ easy-to-use plug-in for QuickBooks means you never need to leave your QuickBooks to make a payment.
- On average, you can reduce 10 hours of manual work to under 10 minutes without errors by digitizing transactions directly within QuickBooks.
SHTAR® automates payments and syncs transaction-related data directly from QuickBooks to your payees, whether vendors for accounts payable, employees for expenses, customers for refunds or any other type of payment transaction. In addition, SHTAR® eliminates duplicate data entry and enhances or streamlines transaction approval controls.
- Eliminate all manual data entry required to initiate ACH, RTP, Paper Checks, wire and card payment transactions.
- SHTAR™ supports multiple layers of review and approval before payments are initiated for enhanced security.
After installing the SHTAR® plug-in, when you enter a payment in QuickBooks [shown above], the SHTAR® platform generates a vCheck™ (virtual check) [shown in the illustration below] that can be reviewed and approved digitally before being submitted for processing by your bank.
- From a technical standpoint, once a payment has been generated, reviewed and approved, a standard ACH batch file or RTP transaction is created and submitted for processing by the SHTAR™ user's bank.
- Once you have processed a vCheck™ and your bank has transferred the funds, the SHTAR™ plug-in will auto reconcile the transaction with QuickBooks [shown in the illustration below].
- The bank balance is automatically synced with your book balance, saving you valuable time manually reviewing checks by marking them off individually while reconciling. In addition, this gives your business a much easier time during transaction auditing.
Overall Impression of the App
SHTAR® is an app-plug-in that works precisely the way I have described it. It was easy to set up and easy to use. It leaves you in control of your Accounts Payable because it works—or is at least initiated—from within your QuickBooks. When you process a payment in QuickBooks, SHTAR® does the rest to initiate ACH, RTP, Paper Checks, wire or card payment.
If you want to explore SHTAR® for QuickBooks Online, discover how to eliminate duplicate data entry and streamline payables from within QBO without ever logging into your bank, head over to their vChecks (Virtual Checks by Shtar) landing page at the QBO App Store. In addition, you can learn more about SHTAR® at their homepage.
Acknowledgments and Disclosures:
Graphics and content used within this feature were derived or adapted by the author in part from SHTAR® source materials, including the SHTAR® Website and the SHTAR® landing page at the Intuit QuickBooks App Store. Adapted source materials published within this feature by Insightful Accountant are for educational and product promotional purposes only.
SHTAR and VCHECKS are registered trademarks of SHTAR LLC, a domestic limited liability company registered in Brooklyn, New York.
As used herein, QuickBooks and QuickBooks Online (QBO) refers to one or more registered trademarks of Intuit, Inc., a publicly-traded corporation headquartered in Mountain View, California.
Any other trade names used herein refer to registered trademark products held by their respective owners. They are referenced for informational and educational purposes only.
This is an editorial feature, not sponsored content. None of the vendors have paid Insightful Accountant, or the author, remuneration of any type to be included within this feature. The article is provided solely for informational and educational purposes.