Accepting credit card payments allows you to easily and securely accept funds from customers. QuickBooks makes it simple to take card payments directly in your accounting software.
In this guide, we’ll cover how to set up credit card processing in QuickBooks and outline the steps to complete transactions.
Benefits of Accepting Credit Card Payments
Here are some of the key advantages of accepting credit card payments through QuickBooks:
- Convenience – Customers can pay instantly with a few clicks. No need to send checks or cash.
- Speed – Receive payments up to 47% faster with next-day funding (for US-issued cards).
- Cash flow – Get paid faster to improve business cash flow.
- Security – QuickBooks uses bank-level security and encryption for protection.
- Accounting integration – Transactions automatically sync with QuickBooks in real-time.
- Accept more payments – Take one-time and recurring credit card payments.
- Affordable – Get competitive credit card rates with no hidden fees.
How to Set Up Credit Card Processing
To start taking card payments, you need to activate credit card processing in QuickBooks. Here’s how:
Step 1: Sign Up for QuickBooks Payments
The easiest way to accept credit cards is through QuickBooks Payments. This allows you to process cards directly in QuickBooks without third-party software.
To enable Payments:
- Log into your QuickBooks account and go to Payments.
- Select Get started.
- Enter your business information to create an account.
- Agree to the terms and verify your identity.
Once your account is approved, you can start accepting cards right from QuickBooks.
Step 2: Activate Credit Cards as a Payment Method
Next, turn on credit cards as an active payment method:
- Go to Payments > Settings > Payment methods.
- Check the box to enable credit card and debit card payments.
- Choose your currency and validate your identity.
- Click Save when finished.
Credit cards will now show as an option when creating transactions.
Step 3: Add Your Bank Account for Funds
To receive payment deposits, connect a bank account:
- Go to Payment Deposit Settings.
- Enter your banking information and account details.
- Confirm small trial deposits will be made.
- Verify the amounts to validate your account.
Payments will now deposit into this account once processed.
How to Process a Credit Card Payment
Once credit card processing is activated, you’re ready to start accepting payments. Here are the steps:
1. Create an Invoice
Open a new invoice for the customer and enter the amount due. You can customize the invoice with items, quantities, discounts, and more.
2. Select “Credit Card” as the Payment Method
In the payment section, choose “Credit Card” from the drop-down menu.
3. Enter Credit Card Details
Enter the credit card number, expiration date, CVV code, and billing details.
4. Process the Payment
Click “Process Payment” to securely charge the card.
That’s it! The payment will sync to the open invoice and deposit into your bank. Send a receipt to the customer.
Tips for Processing Credit Cards in QuickBooks
Follow these tips for smooth credit card transactions:
- Enter card details carefully to avoid declines. Double check the number, date, and code.
- Ensure your customers’ billing address matches their cardholder info.
- Check for typos in names, amounts, and transaction details which could cause issues.
- Enable reminders for collecting outstanding card payments via email.
- Contact QuickBooks support if you have any trouble processing payments.
Next Steps with QBS Credit Card Processing
Now that you know the basics, here are some next steps to explore:
- Set up recurring billing on a schedule for subscriptions.
- Create client-facing payment pages to email for self-service payments.
- View detailed reporting on processed payments and fees.
- Establish rules to route payments or restrict use.
- Save cards on file for smoother future transactions.
QuickBooks makes accepting credit cards and managing transactions simple. Reach out to their support team if you need any help optimizing the payments process.