QuickBooks Payments, what is it?
QuickBooks Payments, it is a value-added service that every QuickBooks user can use to receive payments from their customers. In old times QuickBooks users had to go for third-party services like Stripe, direct bank transfer to collect payments from customers.
Now with QuickBooks, there are different ways you can accept payments. Getting paid easier by sending professional custom invoices customers, and customers can pay anytime anywhere with a Pay Now button. Accept credit and debit cards and even bank transfers that can be deposited the next business day. Get real-time alerts when customers view and pay your invoices and automated reminders let customers know their payment is due.
“Another Value-Added Feature: Go Payment app”
QuickBooks Online customers can take payments on their iOS or Android mobile devices using the Go Payment app. Go Payment offers low flat rates, no monthly fees and you can receive funds in your account the next business day to make payments on the go. You can either enter the customer’s card info or you can swipe dip or tap using the free card reader which you can order when you sign up with go payment. You can also create items and set up sales taxes and tips, so you can get your business up and running right from the start. Watch your sales automatically reconcile with QuickBooks in real-time allowing you to focus on what matters to you most.
With QuickBooks you can invoice across platforms, this means you can send invoices on the web using QuickBooks Online and accept the payment on mobile for those invoices using the Go Payment. The payments will automatically sync to QuickBooks Online and the status of invoices will update from open to pay. You can even select multiple invoices to be paid at once with Go Payment. If your customers paid the same amount on a regular basis you can set up Recurring payments with QuickBooks to charge your customers automatically on a set schedule. For credit card transactions once set up, a notification will be sent to your email every time recurring transactions are processed and finally you can get paid by keying in transactions on the web using the virtual terminal. Virtual terminal essentially turns your computer into a credit card processor. You can key-in credit card payments for customers over the phone or in-person enter the sale details and credit card information. Then print a receipt and make another payment. Now work takes time but getting paid won’t, because no matter how you get paid QuickBooks is backing you.
How to setup QuickBooks Payments
Here’s how to set up payments in QuickBooks online.
Go to the gear icon, select accounts and settings, and then the payments tab. If you have a merchant account with intuit and want to connect it you can do that there. But if you don’t have a merchant account please select Learn more to sign up and complete your info, about your business, and the owner. Then you will be able to connect your bank to your Merchant account.
Once you’re finished submit, you’ll get an email from QuickBooks letting you know when you’re approved. It usually happens within a couple days. If you want to order a mobile card reader you can do that on the same window.
Now you’re ready to set up QuickBooks payments and start getting paid faster.
QuickBooks payments processing fees
How long do QuickBooks payments take?
The first payment you process will show up in your bank within five days after that you should see payments deposit much faster. Even on the same day for eligible accounts.
What is Instant Deposit
Instant Deposit allows QuickBooks Payments customers to deposit an available balance into the bank on-demand, 24 hours a day, 7 days a week. For an extra 1% fee, move payments into your bank account instantly, if eligible—nights, weekends, even holidays. Deposit payments individually, or set up a recurring schedule to move your money automatically