QB Tax Advisor Accounting

QB Tax Advisor

Accepting credit card payments allows you to easily collect payments from customers and improve cash flow for your business. QuickBooks offers integrated tools to accept and process credit cards in a seamless manner.

Follow these steps to set up credit card processing in QuickBooks:

Choose a Credit Card Processor

QuickBooks partners with several credit card processing companies. When enabling credit card payments, you will need to choose a processor.

Popular options include Stripe, Square, Helcim and PayPal. Compare pricing, features and ease of use to pick the best one for your business.

Many processors offer a QuickBooks integration so transactions can sync directly. A seamless connection avoids manual data entry and reconciliation.

Enable Credit Card Payments

To turn on credit card processing in QuickBooks Online:

  • Go to the Gear Icon > Payments > Setup
  • Click ‘Get started’ under Accept Customer Payments
  • Select your credit card processor
  • Enter required details to create your merchant processing account

This enables payments through your processor account with transactions flowing into QuickBooks.

Set Up Card Readers

If taking in-person payments, set up card readers like Square or PayPal Here. These let you swipe or dip customer credit cards on smartphones or tablets.

Connect the reader to your QuickBooks payments account to sync transactions. Make sure to enable options like tipping or refunds if needed for your business.

For online payments, you can send payment links or invoices to customers by email. No card reader needed as customers input card details themselves.

Configure Payment Settings

Once your account is enabled, go to Payments > Settings in QuickBooks to configure:

  • Payment methods – Choose to accept credit cards, debit cards, bank transfers etc.
  • Branding – Add your logo and customize elements like the checkout page.
  • Invoice settings – Enable online payment links or buttons on invoices.
  • Notifications – Setup email or SMS alerts for successful/failed payments.

Optimizing these settings ensures a smooth payment experience for you and your customers.

Create Invoices

You’re now ready to start accepting credit card payments. First, create a sales invoice for the customer in QuickBooks like normal.

Make sure ‘Online Payment’ is checked when creating the invoice. This adds options to email an online payment link when sending the invoice.

Email Invoices with Payment Links

In the invoice, click ‘Email’ and choose a template that includes payment info.

This emails your customer an invoice with a link to securely pay by credit card without leaving their email.

For recurring customers, enable ‘Auto Charge’ to securely store their card. Subsequent invoices will be automatically charged to the stored card for fast, simple payments.

Accept In-Person Payments

If meeting customers in person, have your card reader ready to accept payment on the spot.

When checking out the customer, open the Sales Receipts section of the QuickBooks Mobile app.

Input their order details, then swipe their credit card. The payment will be processed and instantly recorded in QuickBooks.

Provide a receipt by text, email or print for the customer.

Manage Transactions

Go to Payments > Transactions in QuickBooks to see all credit card payments received. You can search for a specific invoice or customer payment.

The payments automatically sync from your processor to QuickBooks – no manual importing needed!

Review open authorizations, refund transactions, export reports and more. Reconcile payments against bank deposits for accurate books.

Secure Your Data

Make sure to enable protections like SSL encryption and data backups provided by your processor. Follow best practices like not retaining full card numbers to enhance security.

Enable fraud prevention tools and screen transactions to limit risks and chargebacks. Having proper controls ensures PCI compliance and customer trust.

Processing credit cards directly within QuickBooks streamlines and automates your payment workflow. Choose the right credit card processor for your business needs and optimize the payment settings. Implement the right security controls and processes to safely accept cards from customers online and offline. Accepting credit card payments via QuickBooks allows fast, simple cash flow for your business.

Leave a Reply

Your email address will not be published. Required fields are marked *