The ‘Billing Options’ page is where you enter your details for receiving payments, from your customers, for licenses sold. The options you select (and only those) will appear on the customer’s checkout page.
LicenseQuote does not take a share of these payments, they are sent directly from your customer to you. Note that various payment services will take a processing fee. For PayPal, it’s around 2.9% + $0.3 and varies according to circumstances and location (e.g. a cross-border payment costs more, currency conversions have costs).
You’ll need at least one billing method. Otherwise there will be no way for you to sell licenses.
- To receive automated payments, you’ll need a PayPal account. Check the box and enter your PayPal email. It’s a good idea to make sure your customers are aware that they don’t need a PayPal account and can pay by credit/debit card. There is a link on the PayPal payout page for paying with a credit card. No PayPal account is required from the customers. You should connect your PayPal account to your bank and/or credit card and verify it. Otherwise, all kind of problems could happen (refusals mostly). With a PayPal business account, there is a feature called ‘Auto-Sweep’ which automatically transfers your PayPal balance to your account every night, so you don’t need to keep checking in and transferring it manually.
- To receive checks by mail (post), check the box and enter your mailing address and any special instructions. Bear in mind that if you’re a sole proprietor you will need to be able to receive the check and process the sale in a timely manner. If you go away on holiday for two weeks and the check arrives during the first week, your customer may need to wait until you get back before she can download the track and license.
- For wire transfers, enter your details. Check with your bank as account details for international transfers may be slightly different from domestic transfers, and if so, make sure you note them both clearly.
- Enter details for any custom payment method you want to support, such as TranferWise. Note there are geographic limits to some of these types of service. PayPal is universally accepted.
- For each of the manual payment options (2-4), you’ll need to mark the inquiry as paid on the ‘Licensing Inquiries’ page when you receive payment, so the buyer can download the master files. This is very important as the customer won’t receive the files and contract before you confirm that payment was received. See how it’s done here.
- You can choose whatever currency you want to be paid in (USD, Euro, GBP, etc). This affects how your pricing is displayed everywhere in your store as well as the currency PayPal will expect from your customers. If you use PayPal, it will handle any currency conversions on your behalf, if applicable.
- If you don’t want to generate receipts automatically, check this box. You might want to do so if your licensees don’t need receipts or you manually send them due to having a different accounting system or due to local tax laws. LicenseQuote does not calculate VAT or any sales tax for you or your customers. If you need that, your advertised prices should be inclusive of VAT, and you should then calculate the VAT that was part of your sale in your local accounting/invoicing software or by your accountant if you have one.
- Put any other details you want to appear on the LicenseQuote generated receipt here, such as your VAT number, company number, etc.
Make sure to click Save when you’re done.