Checkeeper Helps Manage Payments for Multiple Revenue Streams

Having a secondary revenue stream can help business owners protect their financial health during economic downturns, seasonal fluctuations, or unexpected setbacks. Creating multiple revenue streams also helps business owners keep cash flow steady and manage their debt payments when the primary revenue source becomes unexpectedly reduced or unpredictable.

Some ways business owners and professionals create an additional source of revenue include:

·      Freelancing

·      Renting out extra space

·      Leasing equipment that is not in use

·      Creating a subscription service

·      Offering consulting services

·      Selling advertising

·      Offering paid educational services or videos to other professionals

Online tools for managing multiple revenue streams

Managing revenue and expenses for more than one entity or from more than one source can be tricky and time-consuming for those who don’t stay organized. Online software services can be helpful for growing and expanding businesses that are looking to diversify the revenue stream. Accounting and bookkeeping platforms that offer time- and expense-tracking tools for separate projects can provide an assessment of how each revenue stream contributes to a business’s overall profits. Automating accounting, payroll, and payment software services that can issue payments and record incoming payments for you will assist in providing more organization, accuracy, and real-time updating. When diversifying the revenue or trying to create a back-up source of revenue, consider some ways to navigate bookkeeping challenges:

Issuing payments from multiple checking accounts

If you use more than one checking account to keep separated the payments and deposits for different aspects of your businesses, online check printing helps simplify and organize the process. Instead of managing multiple checkbooks, registries, ledgers, and records, Checkeeper users can issue payments from different checking accounts from the same Checkeeper account and login. Link as many different checking accounts to your Checkeeper account as needed, and change the numbers when suited to the specific payment. Checkeeper does not touch users’ funds, go into their bank accounts, or move their money; all routing and account numbers appear along the bottom of the check exactly as users input them. Checkeeper automatically formats account and routing numbers in the MICR-encoded font that bank computers recognize, and users can change or update these numbers right in their templates. For users whose secondary revenue stream is actually a separate business, Checkeeper offers consolidated payment management from within a single account. Add as many secondary and separate businesses to your one Checkeeper account, and go back and forth between them to issue payments—all with one login. Each added business incurs its own subscription and comes with its own smart check registry for tracking expenses and running reports, as well as its own saved check templates, uploaded logos, designated software add-ons, and mail credit balance.

Keeping separate records

If your secondary revenue stream requires its own expense tracking and reporting, it may be useful to give it its own check registry and recording features. Checkeeper makes it easy to keep business reports and records separate so that there is no overlap, even when the same company offers multiple services. Register for one Checkeeper account, and add as many separate business names to it as needed. To keep business records separate, each one will come with its own subscription terms and have its own smart check registry for searching and running reports. Every linked business within a single Checkeeper account has its own:

·      Saved check templates

·      Uploaded logos, images, and signatures

·      Custom check fields that can be activated or deactivated

·      User permission settings

·      Mailing settings

·      Mail-credit balance for expedited check printing and mailing orders

·      Designated software add-ons

·      Smart check registry containing recorded details of each check created

Checkeeper integrates with many accounting and payment software services that are popular with small businesses, making the bookkeeping for multiple revenue streams more expedient and accurate, even when there are fluctuations in revenue and expenses.