20/03/2026
Is your "customer convenience" costing you 10 hours a week? 💸
I used to run a fairly large 20-staff business, and we took payments via 2 credit card terminals, via stripe, via cash, via bank transfer, via something called 'GrabPay' (which Malaysians and Singaporeans will know well).
This was great for the customer. They could rack up points on their preferred system, and had access to afterpay features and all sorts of things.
But the bookkeeping reconciliation! O... M... G...
Seriously, our book-keeping was tight and highly efficient, but the actual reconciliation steps were a nightmare - even with custom coded python automations. I think the problem really stems from the fact that no bookkeeper can actually guarantee 100% accuracy.
These days, I only accept stripe payments and bank transfers. And I'm genuinely considering dropping stripe as well, as auto reconciliation has never been perfect (invoicing via xero is the closest I've ever reached to perfect automation). The great thing about having less payment channels is that everything auto-reconciles, and if a payment is missing, it flags almost immediately in Xero on the reconciliation statement.
Is it a deal-breaker for clients? Nah.
It turns out this whole time, We'd just been doing it because everyone else did. In this case, less is definitely more.
The most successful lifestyle-focused small businesses keep it simple. By narrowing your payment options to one primary channel that auto-reconciles with your accounting software (like Xero or MYOB), you can reclaim nearly 10 hours of your week (or your staff's week).
That’s 10 hours you could spend:
- Growing your business.
- Grabbing a coffee in Kew (As a Doggies fan, I like going to Bonte's cafe).
- Actually getting some sleep!
Even if you outsource all of your book-keeping, this one will make everybody's lives easier.
How many payment channels are you currently juggling? Tell me in the comments—no judgment! 👇