Running online courses gives you the freedom to make additional passive income and set your own schedule, but it also comes with added responsibilities of managing finances and paperwork. Responsibilities we want to take off your plate with Teachable Payments and BackOffice.
Teachable Payments allow all of our users on free or paid plans to get their payouts whenever they want—daily, weekly or monthly! No more waiting 30 days for your course sales earnings to hit the bank (unless you it want to). The choice is now yours. In addition to faster payouts, teachable:pay allows us to drop the transaction fee for Teachable Pro users from 2% to 0%.
By setting up Teachable Payments, you can also enable BackOffice, a new suite of services we provide to make the logistical pains of managing an online course go away—at a 2% transaction fee.
What does all of this mean for you? It means more time for you to focus on creating new courses, building your audience, and growing your online learning business.
How to set up Teachable Payments
Teachable Payments is our new native payment gateway that features new updates on how we process debit and credit card transactions. Currently, it’s only available for schools operating within the United States or Canada.
Inside your school’s Settings area, there’s a Payments tab where you can set up teachable:pay with your phone number. The onboarding process will lead you to create a Stripe Express account that powers Teachable Payments.
Once your Stripe Express account is created, you’ll be redirected back to your Teachable account to finish setting up. You’ll get to choose how frequently you’d like to receive your payouts—daily, weekly or monthly, and if you’d like to enable BackOffice.
Please note: Setting up Teachable Payments will permanently replace your current payment processing gateway. To learn more about Teachable Payments fees and breakdown, check out our Knowledge Base.
Let us manage your paperwork
For users who do not have schools in US and Canada, you can also enable BackOffice if you’re using Monthly Payments Gateway.
As you set up teachable:pay, you’ll also have the option of opting-in to BackOffice. If you decided not to opt-in during the Teachable Payments set up, you can do so later in your school’s Settings area at the bottom of the Payments tab.
BackOffice is a suite of services we offer at a 2% transaction fee, so you can focus on your business instead of carving out additional time to deal with paperwork. Once enabled, we will take care of the following for you:
Handle all author and affiliates payouts within 30 days
Give you the option to enable/disable VAT charges
Collect and file tax forms for you on your behalf
Collect and file tax forms on authors and affiliates
File and remit EU VAT charges automatically
Allow your school to accept PayPal payments
Looking ahead, we plan on introducing additional payment options and services in BackOffice to make it easier for your students to enroll in your course, and for you to manage your courses. We can’t wait to expand on this list of services for you in the future. If there are any services you find valuable, let us know on social or in the teachable:hq.
For additional information about our BackOffice services, make sure to check out our Knowledge Base.
Set up Teachable Payments and enable BackOffice today
Ready to get faster payouts and your paperwork managed? Set up Teachable Payments and enable BackOffice today! If you’re still on our free plan, upgrade to our paid plans for access to our full suite of BackOffice services.