In QuickBooks there is a way to accept online payments. This allows your customers to pay directly from invoices emailed from QuickBooks. There is no cost to your customer and the cost to you as a business owner is very inexpensive. For bank payments it only costs $0.50 per transaction with no monthly, setup or cancellation fees. You can also allow customers to pay by credit card and Intuit charges a merchant processing fee for this. However, you can choose to accept just bank payments if you wish, keeping your processing costs very affordable at $0.50 per transaction. Watch this QuickBooks video tip to learn how to enable online payments in QuickBooks.
Enabling QuickBooks Online Payments
There are a few ways to enable online payments in QuickBooks. You can change your QuickBooks payments preferences by selecting Edit/Preferences/Payments. You want to select the company preferences tab and turn on online payments by clicking on the 'learn more' link in the Invoice Payments section of your payments preferences. This will launch a new window which will walk you through the process of setting up an account to accept online payments. You also want to check the box titled 'include online payment link on invoices.' This will allow your customers to click on a link within the body of the email that accompanies your invoice and pay the invoice directly. You can also enable online payments by creating an invoice and clicking on the 'learn more' link in the lower left hand corner next to the check box titled enable online payment.
Benefits Of Accepting Online Payments
There are several benefits to accepting online payments. Obviously this is a very cost effective method compared to accepting credit cards. If your customers pay by ACH bank payment it only costs you $0.50 per transaction and it will not cost your customer anything. Another benefit is that accepting online payments should help increase your cash flow. Additionally accepting online payments will help you to manage your accounts receivable and collect money faster. Your customers will appreciate the option of being able to pay online and it will show you are a forward thinking company that is keeping up with technology. Lastly, you will be able to service new clients faster. If you have a policy of getting paid in advance this will allow you to accept and service new clients faster.
Accepting online payments in QuickBooks will benefit your business in many ways. It is a very inexpensive solution that will allow you to quickly accept payments, keep accounts receivable in check, cash flow health and show your customers that you keep up with technology.
