Businesses are becoming more and more reliant on digital payment systems, and choosing the right platform is crucial for seamless financial operations. QuickBooks Online Payments is a notable payment processing solution that helps many businesses streamline the way they receive payments, manage invoices, and automate their financial processes.
In this blog, we’ll tackle the key features of QuickBooks Payments and when to use them to help you better decide if it’s right for your business.
Online Invoicing
QuickBooks Online Payments uses the powerful invoicing features in QuickBooks Online which allow you to create highly customizable and professional-looking invoices. You can personalize your invoice in different ways, such as by adding your company logo, changing invoice templates, editing the invoice color, and setting up personalized messages for your customers. Also, you have the flexibility to include detailed information such as itemized charges, due dates, and payment terms.
QuickBooks Online’s invoicing form
Payment Processing
A standout feature of QuickBooks Online Payments is its robust payment processing capabilities. You can accept payments in various ways, including swiped transactions, keyed-in transactions, online or invoiced transactions, and ACH transactions. Businesses that seek flexibility in payment options and aim to expedite the payment cycle can benefit from this feature.
QuickBooks Online Payments’ flexible payment processing feature is especially advantageous for companies dealing with clients who prefer different modes of payment. Whether your business is in retail, services, or any industry, QuickBooks Online Payments might be suitable for you.
Banking
QuickBooks Online Payments offers a convenient banking feature through QuickBooks Checking, allowing businesses to streamline their financial operations. With QuickBooks Checking, you have the option to sign up for a business bank account with Green Dot Bank. This business account comes with several advantages, such as the ability to receive instant deposits and faster ACH transfers without incurring additional costs.
Instant Deposits
QuickBooks Online Payments now provides businesses with timely access to their funds through QuickBooks Checking. If you have a QuickBooks Checking account, you’ll be able to receive free instant deposits, as opposed to the traditional two to three-business-day-processing. This allows you to have quicker access to the funds earned through card transactions and ACH payments.
Integration with QuickBooks Online
QuickBooks Online Payments has a built-in integration with QuickBooks Online accounting software. When a payment is made through QuickBooks Online Payments, the payment information is automatically recorded in your QuickBooks Online account. Then, payment data seamlessly synchronizes with QuickBooks Online, eliminating the need for manual entry of payment information. Additionally, it gives you access to all of QuickBooks Online’s accounting features which you can use to manage your books.
Discover the benefits of QuickBooks Online cloud accounting.
QuickBooks Payments seamlessly integrates with QuickBooks Online
Third-Party Integrations
You can integrate your QuickBooks Payments with other business platforms such as Amazon, PayPal, Square, Shopify, QuickBooks Time (formerly TSheets), and Fathom. These integrations empower businesses to incorporate QuickBooks Payments into their existing tech stack, creating a more interconnected and efficient business environment.
Mobile Payment Processing
QuickBooks Online Payments’ mobile app, QuickBooks GoPayment, offers a convenient way to process payments on the go. This app allows businesses to key in their customer’s card details directly on their mobile device or use a mobile card reader for in-person payments. The versatility of QuickBooks GoPayment enables merchants to adapt to various payment scenarios, providing flexibility and mobility in their payment processing.
If you need additional guidance on whether it’s time to use this payment processing solution, learn when to use QuickBooks Online Payments.
Wrap Up
QuickBooks Online Payments is a powerful payment processing solution for businesses of all sizes. It offers a robust set of features that allow you to simplify the different aspects of your invoicing, payment processing, and accounting workflows.
