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Plooto is an all-in-one platform that enables businesses to automate their domestic and international accounts payable and accounts receivable functions by unifying payments, processes, control, and reporting. Get paid as soon as 2 business days with credit cards! Trusted by 10,000+ businesses, the platform also integrates with popular accounting systems such as Xero and QuickBooks to eliminate data entry and automate the reconciliation of bills and invoices.
Provider
Plooto
Located In
Canada
Foundation
2014
Open API
Unverified
Deployment
Cloud, SaaS, Web-Based
Training
Documentation, Live Online, Webinars, Videos
Support
FAQs/Forum, 24/7 (Live rep), Knowledge Base, Email/Help Desk, Chat, Phone Support
Ideal for small businesses and accountants, Plooto is the fastest way to manage business payments - saving you hours on your accounts payable and receivable processes like credit card payments.
Content Source: Plooto
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Users have encountered significant issues with Plooto's bank transfer functionality, particularly with failed transfer attempts. They report that resolving these issues can take an extended period and require multiple follow-ups, which is inconvenient and time-consuming. Additionally, they find the need for manual wire transfers to be a cumbersome process, especially when automated solutions are expected to handle such tasks seamlessly.
Users find Plooto's interface user-friendly and appreciate its integration with accounting software, such as QuickBooks, which simplifies vendor payments. They highlight the ease of syncing accounts payable and the efficiency it brings to managing their financial tasks. On the downside, they experience problems with contact integration issues, difficulties in sorting and searching vendors, and the lack of proper handling for supplier credits, which can complicate their payment processes.
Pros
Their customer service was good too. Overall Plooto is an awesome addition to my business and one that I wish I had implemented YEARS ago.
The best features of Plooto include the ability to send contactless payments to vendors at anytime in (almost) any amount. We love the approval control, the user friendly interface, and the price.
The accounts payable functionality and clear audit trail have been fantastic. It is a useful software for our firm and our clients have definitely benefited from the implementation.
My experience has been very good. Been very happy with product in the past few years that I have been using it for my clients.
Cons
The problem that arises is that we as a small organization end up paying for two software because some of our vendors pay by credit card so we are spending more money on Plooto.
So far negative but hopeful I can figure it out. I'm frustrated to have had to pay $25 per month and still haven't figured out if this is going to work for my business or not.
The pricing change is too bad given our corporate structure.
The warnings should be more visible. It takes longer than Telpay to deposit into account.
Most Recent Video User Review for Plooto
SEE ALL VIDEO REVIEWSPlooto Review: Plooto is Great
Colette H.
"Entreflow Consulting Group's use of Plooto"
Overall: Plooto has certainly helped us from a workflow perspective, it's pulling your payables from your Quickbooks or Xero account into Plooto so you can see all the payables that you need to deal with and when they're due. And there's a whole bunch of approval processes you can put in place for internal controls perspective so make things a lot more bulletproof than just manually writing checks and doing e-transfers.
Pros: So you can currently do pre-authorized debit, pre-authorized credit receivables in U.S. dollars and Canadian dollars which is super kick-ass. It's also made some of our clients lives a lot easier if they've got clients in different countries, and it gives their clients flexibility to pay in debit or credit. Also, as far as the amount of time it takes for that cash to clear your bank account; it's faster than Stripe, and on top of that the integration with Quickbooks makes it a lot easier to manage the fees, unlike Stripe.
Cons: We'd love to see more international payments to more countries just for some of our clients that have people they're paying in lots of different places around the world. As well, with the international payments, if a client has a lot of companies that they're paying in the U.S. for instance if you get really costly really quickly. So I'd like to see some bulk discounts for high volume payments to the U.S.
"Our EFT provider of choice"
Overall: Our objective was to automate payables, and Plooto has been great for that purpose.
Pros: We're a Quickbooks shop, and we *love* the integration. Virtually all of our clients are using Plooto for payables, and some for receivables. In terms of pricing, the package is advantageous for most of our clients. Some of the tiny ones would spend less on regular bank fees -- but the convenience still makes Plooto a good option. The interface is clean and user-friendly. Our clients love the signing authority "tiers." We're working with nonprofits, so there's always a board of directors to consider -- and therefore multiple signers. It's not uncommon for orgs to specify who needs to approve organizations over certain limits, and Plooto gets us there with no fuss.
Cons: We still have issues with some vendors not being serviced by Plooto, e.g. credit card companies. The ability to send payments internationally through Plooto is great, but we sometimes experience issues with foreign banks. On the signing authority front, it's possible to do an "end run" around banking agreements by authorizing people on Plooto that aren't authorized on the bank account. We need to do our due diligence on that, to ensure payments are authorized only by signing authorities.
"It appears to have it all until you use it."
Overall: Not Good. Really ambitious to make it work I like the concept but they make it very hard to be a client.
Pros: I like that it can process both bank or credit card payments for receivables. It can provide automation too but unfortunately it didn't work for me. I like the price. And I like that it linked into xero. It appears to have it all until you use it.
Cons: 1) Its not easy to use, no introduction. 2) the automation component never worked for me I know I had to get PAD on but I wanted it on for some clients off for others and this was not an easy thing to set. It also doesn't allow me to store the credit card something like Quickbooks online I had in mind but this is a complete oversight to the program. I guess if automation actually worked then this could solve this issue. 3) Ya I was very confused but when my clients couldn't figure it out either, some ended up with duplicate payments pulled from their accounts etc. No help to fix very embarrassing. 4) their live chat is not live. You ask a question and wait. Fine to get started but even in the middle of conversation to deal with issues they just disappear. The conversation is not live. Sometimes they don't even read my questions which makes me think not a real person is helping me. 5) Money holding ridiculous! If a client due date on invoice was 30 days and they paid me next day I had to wait until what my invoice said for due date on payment. Plus when money drops into my account there is no PLOOTO ID on the deposit. Very confusing for trying to reconcile. 6) Plooto reconciled in Xero in its own little account but doesn't reconcile with the bank account. Weird and confusing.
"Time Saver"
Pros: Plooto has reduced our payment processing time down from 4-5 hours twice a month to paying our key vendors on a weekly basis in 45 minutes. We went from cutting over 50 cheques to completely electronic payment methods, with the option to still send cheques to vendors that prefer it. It is very easy to use and syncs perfectly with QuickBooks Online. They give excellent transparency on timelines of your payment statuses so you can keep vendors informed of when they can expect payment. Customer service is right at your finger tips and gives almost immediate help through their chat feature.
Cons: Some vendors can be skeptical to enter banking details into a third party payment processor.
"Integral Software for Accounting"
Overall: My experience has been very good! Been very happy with product in the past few years that I have been using it for my clients.
Pros: I like the integration with QBO and that it makes it easy for me to process payments with the appropriate checks and balances of approvals. The software also helps in confirming whether the bank information being provided is valid or not. So easy to use!!!
Cons: The only Con that I could think of is that it becomes a bit expensive for those that have very little transactions monthly where the fixed monthly fee does not get fully utilized.