Intuit Merchant Service for QuickBooks Improves Cash Flow and Streamlines Accounts Receivable

Keeping your accounts receivable current in this economy is a challenge. Checks can be slow to arrive and cumbersome to process. And if you’re using a non-QuickBooks merchant account for credit card transactions, you may be paying more than necessary, using a clunky terminal, and/or doing unnecessary data entry.

There’s a better solution. Intuit Merchant Service for QuickBooks lets you accept credit and debit card transactions. You’ll be able to:

  • Authorize the transactions in QuickBooks
  • Get paid faster
  • Reduce data entry errors
  • Process payments on any PC

Recording Cards

After a quick application and setup process, you can begin. If you’re applying payments to invoices, just click Receive Payments like you normally do (you can also apply card payments to sales receipts and credit memos).

In the Customer Payment window, choose a customer, enter the amount, and select the payment method. Enter the number and expiration date (if this is already in the customer record, it will appear), check the Process xxxx payment when saving box, and save. Upon authorization, the money will go into Undeposited Funds unless you’ve specified otherwise in Preferences.

Payments received by credit or debit card are entered in the same window as checks.

Tip: Set up recurring payments for regular automatic charges.

A Cleaner Option

If your business is such that you often take credit and debit cards in person, you can buy a card swiper that plugs into your PC from Intuit.

This small unit ($69.95) will read your customer’s card and enter the data in QuickBooks, where it’s authorized. You can then complete the transaction and print receipts. This process saves time, prevents data entry errors, and saves you money on discount fees for Visa/MC/Discover networks (1.64% instead of 2.44%; additional cards accepted). When you’re mobile, you can process card transactions manually or with the swiper using a secure website.

Intuit Merchant Service for QuickBooks Improves Cash Flow and Streamlines Accounts Receivable

There’s a $19.95 monthly fee for Merchant Service for QuickBooks and a $.27 transaction authorization fee. Specialized merchant account options are also available for retailers and webstores.

These innovative, cost-effective solutions can improve your cash flow and make your accounts receivable tasks easier, faster, and more accurate. Let us know when you’re ready to begin using them – we’ll be happy to help you get started on the right foot.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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