Frequently Asked Questions (FAQs) About QuickBooks Online Payments

QuickBooks Online Payments is a powerful tool designed to streamline payment processes for businesses, particularly those using QuickBooks Online. However, to leverage the full benefits of this solution, businesses need to understand the ins and outs of QuickBooks Online Payments. 

In this article, we’ll explore 15 frequently asked questions about QuickBooks Payments, covering a range of topics from supported payment methods to integration with QuickBooks Online.

What payment methods does QuickBooks Online Payments support?

QuickBooks Payments supports various payment methods, including credit and debit cards, ACH bank transfers, in-person payments through credit card readers, and digital wallets such as Apple Pay. This flexibility ensures businesses can cater to the preferences of a broad customer base, making transactions more convenient and accessible.

Does QuickBooks Payments integrate with QuickBooks Online for seamless accounting?

Yes, QuickBooks Payments seamlessly integrates with QuickBooks Online, integrating payment processing and accounting in one solution. This integration automates the syncing of financial data, reducing the risk of errors associated with manual entry and providing users with a unified platform for comprehensive financial management. The integration gives you access to all of QuickBooks Online’s features including banking, invoicing, project accounting, inventory management, and financial reporting. 

Can I accept international payments with QuickBooks Online Payments?

Yes, you can. QuickBooks Payments caters to a global audience by facilitating international payments. While this feature broadens the reach for businesses with an international customer base, users should be aware that additional fees may apply to these transactions, necessitating a thorough understanding of the associated costs.

What fees are associated with QuickBooks Online Payments?

QuickBooks Payments operates on a transaction-based fee structure, wherein fees vary depending on the chosen payment method. For instance, it charges 2.4% + 25 cents per transaction for swiped transactions and 2.9% + 25 cents for invoiced payments. For a comprehensive understanding of the costs, businesses can refer to the detailed pricing information provided by QuickBooks.

Is there a monthly subscription fee for QuickBooks Payments?

No, there isn’t. QuickBooks Payments doesn’tmonthly subscription fee. You can enjoy the flexibility of paying transaction fees based on your actual usage, making it an attractive solution for businesses with fluctuating transaction volumes and variable payment processing needs.

How quickly are funds deposited into my bank account after a transaction?

Historically, it takes two to three business days to deposit funds from card-based transactions and longer for ACH payments. However, when you have QuickBooks Checking, you can now get free instant deposits. 

Can I set up recurring payments with QuickBooks Online Payments?

Absolutely! QuickBooks Payments accommodates the needs of businesses with recurring billing requirements by offering a seamless recurring payments feature. This functionality streamlines the process of collecting payments for subscription-based services, minimizing administrative burdens and ensuring consistent revenue streams.

How does QuickBooks Payments handle chargebacks?

QuickBooks Online Payments has built-in tools and resources to manage chargebacks. The platform guides users through the dispute resolution process, aiding in the preparation of necessary documentation and enhancing the chances of successfully resolving chargeback disputes in favor of the business.

Can I customize the look of my invoices with QuickBooks Online Payments?

Yes, you can. The QuickBooks Online integration offers users the ability to personalize the appearance of their invoices. From adding logos to selecting colors and customizing various elements, businesses can create professional and branded invoices that align with their identity.

Does QuickBooks Payments offer a mobile app for on-the-go access?

Yes, QuickBooks Payments extends its accessibility through a dedicated mobile app called QuickBooks GoPayment. It allows you to manage transactions, view reports, and accept payments while on the move. This mobile flexibility is particularly valuable for businesses with field personnel or those attending events and trade shows.

What customer support options are available for QuickBooks Payments users?

QuickBooks Online Payments offers a range of customer support options, including live chat, phone support, and an extensive knowledge base. You can also check out some self-help guides for minor issues.

Tip: Learn when to use QuickBooks Online Payments. 

Wrap Up

QuickBooks Payments for QuickBooks Online users provides a comprehensive and user-friendly solution for payment processing and financial management. However, understanding its features is crucial to harness its full potential, helping you better manage your business and improving your productivity.