QuickBooks performs its payment processing through a service known as QuickBooks Payments. The service, originally known as QuickBooks Merchant Services, is a payment processing option that comes bundled with the QuickBooks accounting software by Intuit (https://www.cardpaymentoptions.com/credit-card-processors/quickbooks-merchant-services/). QuickBooks is one of the most widely used accounting platforms in the world of small business, and the ease of integrating QuickBooks Payments with an already established accounting system is an attractive offer for many merchants. The payment processes themselves are performed by Intuit Merchant Services, and function similarly to that of Intuit’s traditional merchant accounts.
Essentially, QuickBooks Payments will be most useful to those that already use QuickBooks as their primary accounting software for their business. The goal of QuickBooks Payments is to create a seamless user experience in which payments can be received and immediately have an impact upon the accounting records of the company. Because the software is integrated directly with QuickBooks itself, there is no setup cost involved for QuickBooks Payments. In addition, there is no service length requirement or cancellation fee if the user decides that the software is not for them. There are a wide variety of payment plans available that are tailored to suit each and every type of business.
The actual process is extremely simple. Invoices that are sent to customers through the QuickBooks service will contain a “Pay Now” button that will allow customers to pay you online instantly. Payments will be auto-deposited wherever they’ve been designated to go, and the proper accounting records will be adjusted to reflect that the transaction has taken place. In addition, the QuickBooks mobile application, integrated with QuickBooks Payments, will allow you to manage your invoices and accept payments anywhere you go on your mobile device. Perhaps most importantly, the QuickBooks infrastructure is PCI-compliant and is considered to be extremely secure and reliable (https://www.bluepay.com/blog/quickbooks-payment-processing-secure/).
Proper usage of QuickBooks Payments, assuming that your business employs the QuickBooks accounting software, requires a considerable amount of training in order to get the most out of it. QuickBooks accounting software can require a bit of education if the user is new to accounting software. In order for QuickBooks Payments to be most effective, the user must be proficient with QuickBooks itself. Overall, for how well-known and widely used the QuickBooks brand name is, QuickBooks Payments has a relatively low amount of complaints to be found online. Most complaints that do exist tend to deal with users having difficulty using QuickBooks itself, which, as previously mentioned, does require a considerable amount of training to use.
Overall, if your small business already employs QuickBooks as its primary accounting software, then QuickBooks Payments seems to be the next logical step to improve efficiency. The ability to synchronize your payment system and your accounting records for instant updating is a potentially game-changing feature. With its wide variety of payment plans and numerous benefits, QuickBooks Payments is a piece of software that anyone already using QuickBooks should most certainly consider.