At first I used paypal, but then my sales were increasing very quickly and I knew I needed to switch to a merchant account/payment gateway setup to handle the larger volume.

I came across this website, and they really helped me learn a lot. There’s plenty of information on their pages and I discovered so much about how all this works with processing credit cards. Their FAQ section is definitely worth a look.

I’m not recommending you sign up with them in anyway, but I did contact them and was able to get all my questions about merchant credit card processing answered from a real live person. That was pretty cool.

I eventually went with a different company, but at least I was armed with much more knowledge than when I first started.

I’m thankful to say that my business and sales have been doing well and making the switch was, to me, a good choice. You’ll have to determine for yourself if and when you will make the switch.

One thing though, if your volume of sales is not enough to cover the costs of processing fees, then I would go with paypal and just wait till it does.

Hope that helps and good luck!

Only certain newer terminals have the capability to read gift or reward cards – the amount of info is too much for the older terminals to read.

For more info about gift and reward cards, I can be reached at or through the Yahoo contact option above.

Assuming you have an internet collection and computer at your location, PayPal offers Point of Sale services for around $30 a month…so you don’t have to buy expensive machines to process charges.

For more information on Lipman products go to

Rule 1
Debit what comes in. Credit what goes out
Rule 2
Debit the Expenses. Credit the Income
Rule 3
Debit the Receiver. Credit the Giver.

A sample entry is given below for payment for XYZ expenses using credit card:-
Dr XYZ expenses Rs 5000
Cr Credit Card a/c Rs 5000

Next, when you make payment (or deposit cheque in your Credit card a/c), the entry would be:-

Dr Credit Card a/c Rs 5000
Cr Your Bank a/c Rs 5000

Remarks:-
1) XYZ expenses ledger to be opened under group “Expenses Indirect”
2) Credit card a/c to be opened under group “Bank OCC a/c”
3) Your Bank a/c to be opened under group “Bank a/c”

For Tally Integration using RTSlink DLL, visit and sample programs visit

The software must be set to your business needs by the provider {merchant bank}. Contact your financial institution and let them know you would like to activate the terminal to accept all types or selected choices {this is up to you} of cards.

Personally I tend to carry very little cash and don’t like writing checks. I literally put everything I can on my credit card each month, and then just pay it off when the bill comes in.

Since the majority of businesses accept credit cards now, I sometimes go weeks without having a dollar in cash on me. I just don’t often need it and prefer not to have to carry it.