Accepting payments is a crucial part of running any business. With QuickBooks Payments, you can easily accept credit cards, ACH payments, and more right from your QuickBooks account. Setting up QuickBooks Payments only takes a few steps, but it provides you with a powerful payment processing system tailored to your business’s needs.
In this article, we’ll walk through the process of getting QuickBooks Payments configured for your business. We’ll cover:
- Benefits of QuickBooks Payments
- Signing up for a QuickBooks Payments account
- Connecting your bank account
- Enabling payment methods
- Customizing your settings
- Taking payments
Benefits of QuickBooks Payments
Before we dive into the setup process, let’s look at some of the key benefits of using QuickBooks Payments:
- Seamless integration: QuickBooks Payments syncs directly with your QuickBooks Online or Desktop accounting software. Transaction data flows right into your books.
- Accept more payment types: Take payments via credit card, debit card, ACH bank transfer, and PayPal.
- Improved cash flow: Get paid up to 47% faster with next-day funding (for US-issued cards).
- One provider: Manage payments and accounting in one place instead of jumping between different apps and sites.
- Affordable pricing: Competitive credit card processing rates and no monthly fees. Discounted rates available for QuickBooks users.
- Top security: QuickBooks Payments uses bank-level security measures and encryption to keep your data safe.
Signing Up for a QuickBooks Payments Account
Ready to get started? Signing up for QuickBooks Payments is simple and only takes a few minutes.
- Log into your QuickBooks Online or Desktop account.
- In the left menu, click on Payments.
- Click Get started. This will open the QuickBooks Payments signup page.
- Enter your business’s contact information, including your name, email, phone number, and physical address.
- Agree to the QuickBooks Payments terms and conditions by checking the box.
- Click Create account.
And that’s it! QuickBooks will now build your Payments account. You’ll receive a confirmation email once your account is ready to go.
Connecting Your Bank Account
Next, you need to connect a bank account that will receive your payments. Here’s how:
- In QuickBooks Payments, click Payment Deposit Settings.
- Select your bank from the list or enter the routing and account numbers manually.
- Confirm your identity by entering your date of birth and last 4 digits of your Social Security number.
- Review the trial deposits that will be made to verify your account.
Once your bank account is verified, payments you accept will automatically deposit into this account, usually within 1-2 business days.
Enabling Payment Methods
Now it’s time to turn on the payment methods you want to accept:
- Credit/debit card payments – Accept Visa, Mastercard, American Express, Discover, and more.
- ACH payments – Allow clients to pay directly from their bank account.
- PayPal – Get paid via PayPal from your QuickBooks Payments dashboard.
To enable these options:
- Go to Settings and select Payment methods.
- Check the box next to each payment method you want to activate.
- Configure any required settings for the payment types.
- Click Save.
Your chosen payment methods will now show as active in your Payments dashboard.
Customizing Your Settings
You can customize QuickBooks Payments to fit your business processes:
- Set up user permissions – Control who can access Payments and what they can do.
- Add account nicknames – Create recognizable aliases for your bank accounts.
- Brand the checkout – Add your logo, color theme, and business name to checkouts.
- Set up reminders – Automatically email invoices, reminders, and past due notices to clients.
- Establish rules – Set rules to route payments, tag transactions, or restrict payment types.
Take time to explore these settings and tweak them for your preferences. This will enhance your payment management workflows.
Now the exciting part – it’s time to start accepting payments! You can take payments right from:
- The QuickBooks Payments tab
- Invoices and sales receipts
- Estimates and statements
- Client-facing checkout pages
The process is seamless no matter where you accept money from customers. Simply enter payment details, choose a deposit account, and click pay. Transactions will automatically sync with your books.
And that’s it! With these steps, you have a fully functional payment system set up through QuickBooks. Feel free to explore the many features available to tailor Payments to your business needs. Reach out to QuickBooks support if you have any other questions on getting everything configured.