How to Set Up QBS Payments for Your Business

Accepting payments quickly and easily from your customers is crucial for any business. QuickBooks Payments provides integrated payment processing directly within QuickBooks Online.

Overview of QuickBooks Payments

QuickBooks Payments lets you invoice customers directly within QuickBooks Online and accept payment by credit card, debit card, or bank transfer. Here are some key features and benefits:

• Accept credit, debit, and ACH payments
• Payment links on invoices for fast customer checkout
• Process phone/mail order payments in QuickBooks
• Same-day bank deposits
• Low transparent pricing – interchange rates + 1% fee
• No long-term contracts or monthly minimums

Having payment processing integrated directly with your accounting saves time, increases cash flow, and provides a professional customer experience.

Enabling QuickBooks Payments

Here are the steps to get QuickBooks Payments activated:

1. Have a QuickBooks Online Plus subscription
2. Go to Settings > Payments > Get Started
3. Select Payment Account type – credit card processing or ACH
4. Connect your bank account
5. Agree to the Stripe Connected Account Agreement
6. Provide your business and tax information

It only takes a few minutes to enable Payments. Stripe will deposit small amounts into your bank account to verify.

Configuring Payment Settings

Once activated, you can customize Payments preferences:

• Set transaction limits
• Create a refund account
• Set the statement descriptor
• Determine payment authorization
• Require CVV security code
• Save customer payment methods

Adjust settings to match your business needs and compliance requirements.

Adding Payment Forms

To collect payments, you need to customize Payment Forms:

• Go to Settings > Payments > Payment Forms
• Create a form for each type (invoices, sales receipts, deposits)
• Add your logo, colors, and text
• Arrange fields or turn sections on/off
• Preview and test forms thoroughly

Branded forms provide professionalism and familiarity.

Sending Payments via Invoice

You can email invoices to customers with payment links:

1. Ensure the invoice has an Email status
2. The customer will click the “Pay Now” link
3. They enter payment details on the Payment Form
4. QuickBooks deposits the money into your bank
5. The invoice automatically marks Paid when deposited

No more waiting around for checks or manual payment matching.

Accepting QuickBooks Payments In-Person

To process payments in-person with a mobile card reader:

1. Pair your card reader via Bluetooth
2. When ready, click Payments > Charge
3. Choose Payment Type and Customer
4. Enter the Payment Amount
5. Follow prompts on the reader
6. Payment will save directly to that customer’s record

Easy for face-to-face sales.

Getting Paid via Payment Links

You can also email payment links directly without an invoice:

1. Go to Payments > Create Payment Link
2. Select Customer and amount due
3. Customize the payment link expiration and details
4. Copy and send the link to the customer
5. They enter details on the payment form
6. You receive the funds in QuickBooks

Simple for collecting owed or one-off payments.

Processing Refunds in QuickBooks Payments

When customers request refunds for payments made in QuickBooks, you can quickly process refunds:

• Go to Payments > Transactions to view payment history
• Click the drop down and select Refund for the payment
• Enter the refund details including amount
• Refunds process immediately to the customer
• The refund shows under deposits in QuickBooks

Refunding in QuickBooks Payments allows fast credit back while keeping payment reconciliation accurate in your books.

Some best practices for refunds:

• Refund to the original payment method – card, bank, etc.
• Partial refunds are possible if needed
• Add notes explaining the reason for the refund
• Confirm customers receive refunds promptly
• Check for errors if refund is not showing correctly
• Review refund reports for bookkeeping

Smooth refund handling keeps customers satisfied and payments reconciled properly.

Troubleshooting QuickBooks Payments Issues

QuickBooks Payments offers convenience but occasionally some issues may arise:

• Review errors when linking bank accounts or enabling payments
• If payments won’t activate, check account limits and verification deposits
• For declined payments, verify customer card details are correct
• Check gateway status for any ongoing service issues
• Make sure forms are loading properly on different devices
• Confirm you can process refunds without error
• If errors occur, try disabling/re-enabling Payments
• Check Stripe dashboard for downtime or known bugs
• Update QuickBooks Online and Payments to latest versions
• Get support from Intuit Payments team for persistent problems

With a robust integration like Payments, some troubleshooting may be required. Being proactive about identifying and resolving any issues will ensure smooth payment processing.

Best Practices with QuickBooks Payments

Follow these tips to ensure payment success:

• Add website and email branding to payment forms
• Email invoices as soon as possible
• Monitor failed payments and declines
• Compare deposited payments to bank statements
• Refund customers promptly if needed
• Leverage multiple payment methods – cards, ACH, links
• Run payments reports and reconcile regularly

QuickBooks Payments makes accepting payments fast and convenient directly within your accounting workflow. Sign up, customize forms, integrate across invoices, POS, and links, and streamline your cash flow!