Accepting Intuit payments with credit cards is a perfect way to increase your cash flow. It’s because carrying cash and checks takes a longer time to process as compared to credit cards. And if you’re using QuickBooks for recording payments, there is nothing wrong to use it to accept credit card payments. But how to do that? What are the ways?
Well, this blog has all the answers to these questions. Before that, let me share what do you actually mean by accepting intuit payments.
Why does Receiving Intuit Payments Through Credit Cards Make Sense?
When you accept QuickBooks payments with credit cards, you’re saving extra time that you would rather spend on processing. Like good things can come from various paths, so is the situation with receiving payments through credit cards in QuickBooks 2022. These methods could be:
- By using the native QuickBooks 2022 Software
- By Incorporating a payment gateway for reducing the processing fee
Now, let’s dive in and discuss both methods in detail.
How To Recieve Intuit Payments with Credit Cards?
As discussed above, there are ample ways to receive payments on QuickBooks. But let me tell you the easiest ways of doing it.
Method 1: Through Native QuickBooks Software
Firstly, you can accept credit card payments in QB through Native QuickBooks software. It’s possible by entering credit card payments from the Sales Receipt, Receive Payment, or Invoice pages. Here is how.
- Initially in the QB software, tap on Create (+).
- After that, either choose the option showcasing Receive Payment or select Sales Receipt.
- Go for the Receive Payment option if you wish to receive payment for an already entered invoice.
- Pick the Sales Receipt option for receiving the immediate payments.
- After the completion of the form, choose Credit Card for Payment method and tap Enter after filling in the details.
- Now, you can either add the credit card details or swipe the credit card. For entering the credit card details, click OK to save. And to swipe the credit card, just tap Swipe card and start swiping it through the reader.
- Later on, click Save and close the saved transaction.
- In case the customer gives you a partial payment, you can still use a credit card for accepting the invoice balance. Do it by processing it from the Invoice page. Scroll down.
Method 2: By Accepting Intuit Payments For Remaining Balance From Invoice Page
You can always accept credit card payments for the remaining balance from the Invoice page by using the following steps:
- To begin with, hit the Gear icon for choosing the Company Settings.
- Once done, tap on the Sales option, then choose Deposit after clicking the pencil icon next to the Sales form content.
- Proceed further by editing the details manually on the credit card, and click Create(+)>Invoice.
- Now, insert the deposit amount under the Deposit field.
- Lastly, choose the required details from the drop-down menu and do the needed changes. Process credit card and hit Save.
Method 3: By Using QuickBooks Credit Card Integration
If we talk about credit card integration, then it passes more information through the point of sale. The line item information and already stored invoice details in QuickBooks software pass to a PCI-compliant payment gateway automatically. The ultimate benefit of this process is to qualify your credit cards for reduced interchange rates and lower processing fees.
Here is how you can accept the lowest credit card processing fees with the help of QuickBooks credit card integration.
- First of all, go to the Credits and Refunds page.
- In the next step, choose the create a credit memo option and save the changes.
- Next, navigate to the “Issue this refund via” option and select the appropriate credit card.
- Afterwards, tap OK and insert the cardholder details.
- Once done, hit the Process Payment button and tap Done.
- Moreover, you can also enter credit card details from the Sales Order page. Just repeat the above-discussed steps after choosing the Sales Order page.
Ques 1) What is the best payment gateway for credit card integration in QuickBooks?
There are a lot of payment gateways for QuickBooks credit card integration you can choose from. Some of them can be Slack, Paypal, etc.
Ques 2) What do you mean by credit card processing rates?
The fee you pay for processing your credit card transaction and transferring your payment to your account is your credit card processing rate (usually per transaction). Usually, you’ll need to pay a percentage of the sale, plus a flat fee. Rates may include fees from your merchant service provider, processor, issuing bank, and card association.
Summing it up,
All in all, receiving Intuit payments with credit cards in your QuickBooks 2022 makes accounting even more effortless. And the above-mentioned methods are going to help you in doing it where you can also reduce processing fees with credit card integration.
Are you still clueless about a few steps while adding credit cards to your QuickBooks payments? Don’t worry, you’ve QuickBooks experts to help you. Also, you cake seek guidance from them when it comes to QuickBooks cloud hosting solutions.