Essential Insights at a Glance
- Serving as the payments backbone of the QuickBooks ecosystem, QuickBooks Payments handles credit card transactions seamlessly.
- Access to QuickBooks Payments requires an active QuickBooks Online or QuickBooks Desktop subscription.
- Payments can be processed via QuickBooks POS, the GoPayments mobile app, as well as through invoicing or mobile transactions.
If you own a business, you’re probably familiar with QuickBooks’ accounting prowess, but QuickBooks Payments might still be a bit of uncharted territory. This service propels business growth and everyday operations forward by offering a diverse array of payment tools, including ecommerce integrations, ACH transfer capabilities, and streamlined invoicing features.
Designed with small to medium-sized business owners in mind, QuickBooks Payments simplifies managing varied digital payment options—think tap-to-pay cards, digital wallets, and beyond.
Decoding QuickBooks Payments
Imagine turning your smartphone or tablet into a mobile checkout counter. That’s precisely what QuickBooks Payments offers, functioning as a portable point-of-sale system enhanced by a Bluetooth card reader (available for an extra fee). If you’re equipped with this reader, you can breeze through transactions using Apple Pay or Google Pay. No reader at hand? No problem—you can manually punch in payments directly through the app.
Fee Breakdown and Processing Rates
Charges vary depending on whether you’re plugged into QuickBooks Online or tethered to QuickBooks Desktop.
For QuickBooks Online Users
- In-person transactions: 0.5%
- Online and invoiced payments: 2.99%
- Manually entered payments: 3.5%
- ACH transfers: 1%
For QuickBooks Desktop Users
Two paths open here: either a monthly subscription with lower rates or a pay-as-you-go plan without a monthly fee.
| No Monthly Fee | 2.4% + $0.30 | 3.5% + $0.30 | $3 per transfer |
| Monthly Fee | 1.6% + $0.30 | 3.3% + $0.30 | $3 per transfer |
Additional QuickBooks Solutions Tailored for Small Businesses
Beyond payments, QuickBooks arms small business owners with a robust toolkit encompassing bookkeeping, invoicing, financial management, and payment processing—including credit cards, digital wallets, and subscription payments.
QuickBooks Online — The Cloud-Connected Ally
With QuickBooks Online, there’s no software clogging up your device — everything runs through your internet connection. Plus, the QuickBooks Online mobile app keeps your bookkeeping updates at your fingertips.
Core Features
- Monitor income, expenses, and mileage effortlessly
- Snap and store receipts instantly
- Enjoy real-time financial insights on the go
Pricing Plans to Fit Your Business
Four distinct tiers let you choose the best fit:
- Simple Start: $35/month — basic accounting for a single user
- Essentials: $65/month — adds time tracking for up to three users
- Plus: $99/month — includes project and inventory management for up to five users
- Advanced: From $235/month — everything in Plus plus enhanced reporting and support for up to 25 users
Still on the fence? Trial QuickBooks Online for 30 days free or nab a 50% discount for the first three months. Plans are flexible—switch anytime without losing your data.
Quick Wins
- Robust tools tracking every penny: income, mileage, receipts, and expenses
- Zero software downloads required — work straight from the cloud
- Seamlessly integrates with numerous apps for hassle-free accounting
- Mobile app packed with powerful, user-friendly features
- Sales tax calculations handled automatically wherever you sell
Considerations
Pricing can be on the higher side compared to other accounting platforms.
Snapshot: QuickBooks Payment Services
Payment services come via QuickBooks Money or QuickBooks Online subscription packages.
What’s Inside QuickBooks Money?
It’s a smart business bank account that lets you send sleek invoices, accept payments, and handle funds—but skips the heavier accounting toolkit.
Customers with a business bank account enjoy perks like same-day direct deposits while accepting credit cards, Venmo, PayPal, ACH, and digital wallets.
Upgrade to a QuickBooks Online plan to fold all QuickBooks Money features into your monthly fee (plans range from $35 to $99/month).
Fees to Expect
- QuickBooks Money is complimentary, yet transaction fees apply
- 1% per ACH payment
- 2.99% per credit card or digital wallet transaction
Starting out is easy — register online and breeze through a cloud-based setup, no software installations necessary.
Perks
- Bundled with QuickBooks Online subscriptions, but can be used standalone
- Supports a smorgasbord of payment types: ACH, credit cards, PayPal, Venmo, and more
- Potential for same-day deposits when paired with QuickBooks Cash
Drawbacks
- Lacks integration with the QuickBooks GoPayments mobile app
- Recurring payments aren’t supported within QuickBooks Money
The Community Speaks: User Feedback on QuickBooks Payments
Relatively fresh to the QuickBooks lineup, this platform garners praise on forums like Reddit and review sites such as Trustpilot for being straightforward and user-friendly—offering competitive rates alongside industry players like Stripe, Square, and PayPal.
Still, a chorus of voices laments spotty customer service and payment holds lasting five days or more, which can seriously disrupt business cash flow and planning.
Is QuickBooks Payments Right for Your Business?
If your enterprise thrives on credit card transactions—both online and face-to-face—QuickBooks Payments might just be the trusty sidekick you need. It offers flexibility, consistent uptime, and wallet-friendly pricing, especially for those keen on easily tracking cash inflows and outflows.
Keep in mind, though, entry requires an existing QuickBooks Online subscription. If you’re wavering or need international merchant services, alternative processors like Stripe or PayPal might better suit your needs.
Summary
Among numerous payment processing choices, QuickBooks Payments stands out for users already embedded within QuickBooks Online’s accounting environment. It empowers you to accept a spectrum of payments—whether invoiced, online, mobile, or in-person—with ease and transparency.