Understanding How Customer Payments in New QuickBooks Work

If you are using the new QuickBooks Online, you may have noticed that handling customer payments is way easier than before due to new features. You can create invoices when a payment is made and check when it was last viewed to improve tracking, use the messaging feature for quick communications via your email or QuickBooks account, and receive payments from different devices including laptops, smartphone or tablets.

Getting Started with Customer Payments

To sign up for customer payments, you need to click on the gear icon appearing on the top right corner of the screen and then select the “Your Account” section. Once you are there, click on “Upgrade” and add “Payment” to it. After that, you will be asked some basic questions regarding what your business is and where you want your money to get deposited. What makes this feature even better is that there is no wait for approval in activating this feature. You can start credit card processing right away.new-quickbooks-customer-payments

 

How QuickBooks Payments Works

The new QuickBooks Payments is a substitute for both Intuit Payment Network and QuickBooks Merchant Services. The standard features like getting paid for your emailed invoices and credit card processing stays the same way. Moreover, after your money is received, your account books will be automatically updated. Through unique IDs, the payments will be auto-applied to batch deposits. That way, you can be sure about their accuracy and that there are no missed payments.

Using the new QuickBooks Payments, here are some things you can do:

  • On an invoice that you have, you can take a deposit, down-payment or pre-payment.
  • You can allow your customers to pay their invoice through their computer, phone or tablet online.
  • You can set up an automatic payment option for your regular customers.
  • You can take payment against invoices or a one-time payment.
  • You can swipe or type in cards.

Using Previous Payment Methods?

If you are currently using the QuickBooks Merchant Services or Intuit Payment Network, there is no need for you to transfer your account data to the new QuickBooks Online account. The transfer will be made by QuickBooks itself. All the major components of the previous systems are still available in the new Payments feature, so you can easily continue to use your QuickBooks like before without facing any difficulty. The only difference is that you will get a lot more choices for handling your customer payments via QuickBooks now.

Hector Garcia

Hector Garcia

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