QuickBooks Merchant Services is developed by Intuit QuickBooks for Payments. It also supports business owners to target product payments. But some issues have arisen, as QB payments are required and also diversified that payments are not the current match for the record.
Therefore, Intake Merchant Service-Record supports merchant service deposits to find a model of successful transactions. You can use the Intuit QB online software program to conduct transactions. For professional and business owners, QB payments are produced. The business owner selects the payment mode according to his plan and requirements.
If you use Intuit merchant services, it is mandatory to have a deposit merchant service record.
Top Features of Intuit QuickBooks Merchant Services
- To easily collect online payments can use this extension.
- Helps Authorize Only, Authorize & Capture (Sale), Void and Refund.
- Identifies potentially fraudulent transactions in real-time and supports you lessen frauds and chargebacks.
- Multistore and Multi-Language Supported.
- 100% open-source coding.
- Free lifetime helps & Free lifetime extension upgrades.
Intuit Merchant Services Deposits tabs On the QuickBooks Desktop
If you start the QBs on the computer then you will see some tabs on it and these tabs are:
- Add Online Payment- when the transaction and payment invoice is not matched to then QuickBooks Invoice is shown here.
- First of all to statement all payment you can choose ADD Payment.
- You can be using the Need Invoice link for creating the invoices.
- And if you select it for creating the invoice then you require to apply this invoice at the payment by going on Client > TakePayments.
- Then apply the invoice on the payments.
- Prepare to Record- when all the bank transactions of a batch are the match and reported. Then, this batch is shown in the Prepare to record.
- As well as, now you can record the batch of transactions as the deposit.
- In case, all the transactions of a batch do not record that batch.
- And you receive a notification which is Transaction not added.
- Recorded- You can monitor and see all the transactions of a batch when they are successfully recorded.
- Errors- You can track those transactions manually recorded in the QuickBooks. In this tab, if more than one transaction in the batch of this tab then the transactions will not be recorded.
- You should ensure that the amount of QuickBooks matches the number of bank statements.
How to manually add the statements of transactions in QB merchant services?
Following these steps to add the statements of transactions in QuickBooks merchant services manually-
- First of all, Get to the customer > Take payments and create an entry of the transaction.
- Get to the Banking > Make Deposits after getting the payments.
- Then, choose all the payments of the transaction in the batch and click on the Save & Close button.
Manually Record Missing Fees and Deposits
- If the deposit is missing so you can follow these steps-
- Firstly, Get to the banking drop-down of the QuickBooks. Then choose the make deposit option.
- Then, Highlighting the right things for solving them.
- To move the items to the bank account and do the reconciliation. Press on the make deposits option.
Following these steps, so you can create the bill.
- Choose vendor > Enter Bill.
- At the Enter Bill Window, choose the vendor assigned to the QuickBooks Merchant Service account (if not listed, then choose add new).
- Then you can ensure the proper expense has listed in the accounting field.
- Now, enter the amount of pay in the amount payable field ( that price should also be visible in the amount field).
- After that make sure the date of the fee is correct then press on the save and close button after doing the bill creation.
How to resolve the: “To Deposit, you require a valid expense account” error?
If the invalid user (without permission) will input the QuickBooks Desktop, the error (To deposit, you require a valid expense account) encounter. If you want to download all the online payments. So you can download them by Record Merchant Service Deposits.
To solve this, QuickBooks Administrative require to give the following permission to the user’s role:
- Chart of Account
- View Account Balance
How to Configure The Merchant Account settings of Deposit and Fee?
If in the case, you want to download the deposit and fee of the merchant of services then you require an account for downloading them. Also, you will require to select an expense account to spend fees and withdraw them. Usually, it has been created to reflect the actual bank information is deposits in your bank account and the same bank account created in the QuickBooks when the fee will withdraw.
If you are using the latest version of the QuickBooks then the deposit option will view after proceeding in the Record Merchant Service Deposits Option. After proceeding with this option you can modify your deposit settings on the bottom left.
Advantages and Disadvantages of QuickBooks Merchant Services
- Predictable flat-rate pricing
- Seamless QuickBooks Integration
- Cheap chip card readers.
- No monthly minimums
- Good professional services
- Invoice Customization is limited
- High per-transaction fees
- The deposit time is slow
- The customer support is inconsistent.
Top Reasons to Select QuickBooks Merchant Service Payments
Let’s take top reasons to select QuickBooks Merchant Service Payments especially when you are using QuickBooks accounting software to manage your business.
1. Get Paid 2x faster
It is simple and easy when you can email invoices with a Pay Now link, and receive online payments with credit cards, debit cards, and ACH bank transfers. Or receive mobile payments and get paid on the spot with your iPhone, iPad, or Android device.
2. Put track of all your invoices easily
Using QuickBooks, you can schedule invoices to be sent automatically to your customers, individually or groups. QuickBooks puts track of all your invoices in one place, so you can put an eye on the ones that are overdue.
3. Email invoices with a Pay Now link
The customers can simply and easily make instant online or mobile payments. You will view when they have opened your invoices and when they paid it.
4. Email Invoices and Payment are Reconciled Automatically
QuickBooks auto-upgrades invoices and your books when you get paid. The reconciling is completed for you, reducing the most time-consuming task of manually matching payments with invoices and reconciling with bank statements, whew!
5. Simple, affordable pricing
Two pricing plans to put your fees to a minimum. If you are just starting out, choose our pay-as-you-go plan and only pay when you receive payments. No Responsibility, no monthly fee. If you have more processing requires, our low monthly rates allow you to save even more or rates.
6. Payments go directly to the bank
QuickBooks automatically collects your payments in 2-3 days. No require for manual transfers. Saving you a trip to the bank.
7. Get paid instantly, anyplace, anytime
Receive mobile payments anyplace your business takes you. Key in credit card details on your mobile device, or swipe cards using your free card reader. Credit card charges are processed instantly, and, of course, all payments synchronize seamlessly in QuickBooks.
8. All major credit and debit cards accepted
It accepts Visa, Master Card, Discover, and American Express amounts, including ACH bank transfers.
9. You are always supported
When you require them with live phone support. Our QuickBooks experts have helped thousands of small businesses just such as yours.
10. Safe, secure and risk-free
QuickBooks Payments provides you safe and secure online payment processing with bank-level security. There are no contracts and commitments. Begin today and get paid faster, with definitely no risk.
11. Custom Pricing for merchants already processing
Are you currently receiving credit cards somewhere else but would like to process using QuickBooks? When you sign in together Direct Pay Systems, we have the capability to produce custom rates and pricing that will save you money over your current processing and at the same time provide you the value of payments included with your QuickBooks accounting software.
Best Option for QuickBooks Merchant Services
1. QuickBooks Online Payments
This QuickBooks merchant service product enables free bank transfer payments, along with a lower payment processing fees for card payments. You want to have to pay a monthly fee in order to access these lower payment processing fees. You will be also accessing the online merchant center that intuits tailors specifically to your business based on QuickBooks accounting software and QuickBooks accounting payments.
2. QuickBooks Desktop Payments(Pay as you go)
If you are using a version of Intuit QuickBooks Desktop as its accounting software, then you will be access to QB merchant services by QuickBooks Desktop Payments. “Pay as you go” version is the first version of the QuickBooks Desktop Merchant. Its version of QB merchant services will enable your business to pay piecemeal through a slightly higher payment processing fees.
3. QuickBooks Desktop Payments(Pay Monthly)
If you are using QuickBooks accounting software, but procedures a high volume of payments, then the monthly plan for the desktop version of QB merchant services might be a better fit. Along with the monthly plan for QuickBooks Desktop Payments, your business will pay $20 per month in order to access the smaller payment processing fee for every transaction it runs by QuickBooks merchant services.
Additional Payments Option for QuickBooks Merchant
Gopayment is used for the online payments that connect with a card reader via Bluetooth process payments. It is sync with the QuickBooks Online or Desktop account for simple and easy bookkeeping.
2. QuickBooks eCommerce
QuickBooks eCommerce is the payment option that connects with a handful of e-commerce platforms, including Shopify and Big commerce to allow you to process online payments.
How to Contact Our QuickBooks Merchant Professionals
If you want any help related to QuickBooks Merchant services then you contact our certified Intuit at the QuickBooks ProAdvisor. We are available 24×7 for assistance. If you can face any problem and technical issues related to QB, so you contact our QuickBooks experts and technical support team. We provide instant solutions and better guidelines related to your problems.