What is QuickBooks Payments

Hey there Creative!

Did you know that you can process customer payment and set up auto-debits right inside QuickBooks Online? This is just another reason to implement this powerful bookkeeping app. In this post, I am going to break it all down for you.

What is QuickBooks Payments?

QuickBooks Payments is Intuit’s built-in payment processor that you can turn on right inside QuickBooks Online. QuickBooks Payments is super versatile and can be used in several different ways.

Invoice

With QuickBooks Payments you can send an invoice directly from QuickBooks Online to a customer via email –  Your customer will receive an email with a preview and attached pdf of the invoice along with a “pay invoice” button. Your customer can simply click the button and make a payment.  Once your customer pays – QuickBooks Online automatically marks the invoice paid and matches the amount of the deposit to your bank transaction when you download them in the bank feeds window. 

Auto Debit

You can also set up payment schedules in QuickBooks Online as an auto-debit.
This feature comes with a form you’ll have your customer fill out with their bank information.

You can then set up a sales receipt on a recurring schedule or set up several different sales receipts for different amounts to be charged on different dates.

You can totally customize this to fit any schedule you may have. This is exactly how I bill all my monthly bookkeeping clients.

Card Reader

QuickBooks Payments is also portable.

When you sign up for a QuickBooks Payments account you can request a free mobile card reader or upgrade to an all in one card reader.

This allows you to accept payments anywhere from a mobile device, maybe booking clients at an event or accepting a final payment after the in-person service.

These readers can connect to any Bluetooth device like your phone or a tablet.

Website & Shopping Carts

Quickbooks payments can also integrate with many website shopping carts and eCommerce sites like Shopify, Big Commerce, GoDaddy, Ultra Cart and Woo Commerce to name the big ones.

Rates

Now, let’s talk rates

I’m an Intuit Advanced QuickBooks ProAdvisor and that allows me to share my special rates with you! There is a video walkthrough to sign up here: https://www.youtube.com/watch?v=qrNjB3WHN1U

You can see the most current rates below:

I’ll update this post when and if rates change.

There are two plans one is free and costs nothing per month 

The second plan costs $16.00 a month this option really buys down your rates.

Pay As You Go – $0/Mo With My Discounted Rates Regular Rate
Swipe:  2.2% + .25 2.4% + .25
Keyed: 3.1% + .25 3.4% + .25
Invoice: 2.9% + .25
Bank Transfer (ACH) 1% (Max $10)

 

Monthly Fee – $16/Mo. With My Discounted Rates Regular Rate
Swipe:  1.5% + .25 2.4% + .25
Keyed: 2.9% + .25 3.4% + .25
Invoice: 2.75% + .25
Bank Transfer (ACH) 1% (Max $10)

These rates are lower than most other merchant services and they’re much more convenient because they are built right into QuickBooks Online – and… 

The Fee Comes Out Separately

The best part is that the fees come out separately – if you’ve used other merchant services like Paypal, Stripe or Square you know that they take the fee out of your deposit which can make reconcile your books to your bank accounts a nightmare. 

QuickBooks Payments deposits the full amount first, then takes the fee out in a separate transaction which makes everything super clean and easy.

Connect With Us

I would love to know your thoughts on QuickBooks Payments! Do you feel like this would be a game-changer for your creative business? Let me know in the comments below.

If you want to take control of your bookkeeping, join my free webinar.
Are you ready to get your sh!t together in your creative business, contact me here!

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