If you started an online school teaching a subject you’re passionate about, chances are you didn’t get into it looking forward to the finance side of running a business. While it might be something you’ve shied away from in the past, we’re here to make it easier on you, and easier for your students.
We created teachable:pay to help you and your students enjoy a more seamless experience when using Teachable. Think of it as your one-stop shop for all things business management, made to put your mind at ease, automate tasks, and give you the flexibility you need.
We’re breaking down seven reasons why using teachable:pay is so beneficial for our creators. Even if you’re already on teachable:pay be sure to read on to make sure you’re getting the most out of it!
Here are seven reasons you should already be using teachable:pay to sell more confidently
1. Get paid faster on the schedule you want
Get paid on the schedule you want with teachable:pay. You can choose whether to get paid on a monthly, weekly, or daily basis. No matter what you choose, you get paid straight to your bank account, giving you the power to make the right decisions for you and your finances.
2. Payment flexibility for your students
When you use teachable:pay you have the option to let your students pay the way that’s easiest for them. That means giving them the option to use a credit card, a debit card, Apple Pay, GooglePay, and PayPal (if you’re using BackOffice). Your students will thank you, and offering more payment options can make paying for your course a no-brainer.
3. Making global commerce easier
Creators around the world also see the benefits of using teachable:pay. Teachable:pay automates VAT, GST, and other sales taxes in supported markets giving you more time to focus on creating. Plus, you can create one tax-inclusive price, so the number your students see is what they pay, taxes and all. Best of all, these included taxes can still be remitted and filed, without it costing you time. Tax-inclusive pricing is available on Teachable only with teachable:pay.
4. Fraud monitoring and chargeback support to protect your bottom line
When you use teachable:pay you also get access to fraud monitoring to give you peace of mind. By using teachable:pay you automatically benefit from fraud warnings to help keep things running smoothly. Plus, we offer chargeback protection with automated chargeback notifications and dispute support. With two fewer things to worry about you can focus more on creating and growing your business.
5. BackOffice access to automate collaborator payouts and tax filings
Use affiliates to promote your courses? Work with co-authors? BackOffice automates payouts monthly and even automates tax form collection for your collaborators. Bonus: Enabling BackOffice also adds PayPal as a course payment option for your students. BackOffice is here to give you peace of mind, knowing your affiliates are taken care of without the time and stress of making those payments yourself.
6. E-commerce optimization tools: work smarter, not harder
We want to make all your sales dreams come true and we’d bet those dreams don’t have you working harder than you need to. Teachable offers a comprehensive suite of e-commerce optimization tools, like coupons, order bumps, upsells, enrollment caps, bundles, and tax-inclusive pricing flexibility.
7. Automated sales tax calculation, collection, and remittance*
When you use teachable:pay you’ll get the benefits of automated sales tax calculation, collection, and remittance. Be sure to check out our Knowledge Base to learn more about how teachable:pay handles taxes to make the business side of your online school simpler.
Who can use teachable:pay?
No matter what plan you’re on you can sign up to use teachable:pay to make your job as a creator easier. The features teachable:pay has to offer were all made with creators in mind. We want to make sure we’re giving you the peace of mind, automation, and flexibility you need so you can focus your energy on creating, teaching, and scaling your business. For many of our current users, teachable:pay represents an evolution in Teachable Payments, further unlocking the power of Teachable’s online education and robust ecommerce platform.
But keep in mind that some features are only available with certain plans. And as a reminder, there are no transaction fees on the Pro and Business plans. You can have all of this and more by using teachable:pay and BackOffice to manage all things finance for your online school.
Overall, you’ll see the most features and unlock the most value from using teachable:pay in conjunction with BackOffice, because they were built to work together. Now that you know all the reasons you should be using teachable:pay, read on to learn how to switch to it.
We created a guide to setting up your payments in Teachable.
How to switch to teachable:pay
Existing Teachable customers can log into their account to make the switch to teachable:pay today. If you were already set up with Teachable Payments, you’re automatically enrolled in teachable:pay!
- Log into your school.
- Navigate to Settings and then to Payments.
- If you’re currently using a custom payment gateway, select Switch. Otherwise, proceed through the next few steps. Start by selecting your country from the dropdown menu. If you’re in a country where teachable:pay is active, you’ll be able to continue making the switch. (Note: you will be briefly redirected to Stripe, our payment processing platform, as part of turning on teachable:pay).
- Choose your preferred payment schedule, whether it’s daily, weekly, or monthly.
- Choose whether to add BackOffice. (Note: there is an additional 2% transaction fee with BackOffice.)
- Confirm your payment settings.
Then you’ll be all set with teachable:pay! You will start seeing the benefits instantly with your next sale.
Disclaimer: At Teachable we love providing helpful information for creators getting started with their business. We provide helpful information about taxes, but we are not certified tax professionals. You should always consult your own tax, legal, and financial professionals to determine requirements related to your individual business.
Teachable DOES NOT provide legal or tax advice to users of teachable:pay. By using teachable:pay, You are solely responsible for obtaining any such legal advice and tax advice that You consider appropriate in connection with Your use of teachable:pay.