How To Manage Your Finances In 6 Easy Steps

Now that clients are booking you, they’ll be paying you after the appointment. Congrats, you’re officially killin’ it! But how will you accept and manage your client payments?

1. Open a Business Bank Account

It’s always a good idea to keep your personal finances separate from your business finances. If you want to pay yourself, have the bank transfer money from your business banking account to your personal banking account.

2. Set Up an Online Bill to Pay Your Rent

You always want to have a way of tracking your payments so don’t ever pay in cash or any other untraceable method! If you don’t want to pay rent online, write a check and send it every month.

3. Get a Credit Card Payment Processor

Clients will ask if they can pay using Visa, AMEX, Mastercard, Discover, etc. Make sure that you find a payment processor that can process all major credit cards.

GlossGenius’s payment processor is brilliant because it gives you the ability to accept payments through the app, so checking out an appointment takes under 60 seconds.

With any payment processor you choose, you’ll also want to make sure that there are low rates, no long-term contracts, quick transfer timing, customization and the gold standard for security. For example, GlossGenius’s built-in payment processor offers:

• Simple & Low Rates: The industry’s lowest payment processing fee at 2.6%. No hidden fees, regardless of if you scan or enter cards in.
• Ultra-Fast Same-Day Deposits: Deposits automatically land in your account the same day almost every time! Payments before 7 PM EST will be deposited to your account at midnight! Any payments after 7 PM EST will be grouped with the next day’s deposit! Payments taken on Thursday after 7 PM EST – Sunday will be deposited Sunday at midnight.
• Customizability: The option to customize how you split the 2.6% credit card fee with clients.
• Security: We use the gold standard for payment processing. By partnering with Stripe, the world’s leading online payment processor, we give you the ability to accept payments through GlossGenius. Stripe is what many other well-known companies like Facebook, Lyft, SquareSpace, Shopify, and Adidas use for payment-processing, so you’ll be in good hands! You’ll also be able to store an encrypted version of your client’s credit card information, saving you and your client time!

4. Send Receipts

Clients love being able to get a receipt, and it’s a great idea to offer that to professionalize your business even more. After checkout, you can use GlossGenius to send your clients a text or email receipt. This is a great way to get them to leave a review easily since we remind them to leave a review when you send a receipt!

5. Track Your Sales

Keeping track of your payments and sales with a good system will help you fill out tax forms in a breeze. GlossGenius enables you to keep all of your payment information easily organized and accessible in a few taps through sales and appointment reports to make tax season effortless for you.

Also, set sales goals for each month! With GlossGenius, checking out an appointment lets you instantly integrate payment data with your business analytics and reports, making it easier to understand and grow your business!

In a few taps, we can help you track key business data like:

• Rebooking average and repeat clients
• Average ticket size
• Breakdown between service, product, gratuity and other sales
• Total appointments and clients
• Cancelled appointments and no-shows
• Daily sales totals, as well as monthly, quarterly, yearly and more
• And so much more

6. Get a Card Reader

Using a card reader can make your checkout process fast and simple. With the GlossGenius card reader, you can accept contactless tap, insert, and swipe debit or credit cards. You'll provide the most elevated checkout experience for your clients – they will love how quick, contactless, and professional their checkout experience is with a card reader!

GlossGenius’s card readers are designed to take your business to the next level

• Accept All Payment Types: Visa, Mastercard, Discover, American Express, Apple Pay, and Google Pay. You still get our lowest-in-industry transaction fee at 2.6% - no hidden fees. You’ll provide the most elevated checkout experience for your clients!
• Enjoy a Fast, Easy, and Secure Checkout Experience: Connect wirelessly, checkout quickly & securely, and get paid same business day at no extra charge. You can also save thousands because the card reader reduces the likelihood of a payment dispute!
• No more juggling multiple payments apps: the card reader works exclusively with GlossGenius! Your card reader will get to work hustling by your side, processing payments like nobody’s business. 
• Make getting paid a statement: GlossGenius’s card readers come in incredible limited edition designs that fit your brand