How to Streamline Your Quickbooks Payment Processing

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If you use QuickBooks to handle your business accounting and bookkeeping, you already know that it’s convenient and easy-to-use software that can handle a wide array of functions.

What you may not know is that you can use QuickBooks payments to accept credit card payments. Or, perhaps you know about QuickBooks payment processing but have been turned off by the price.

At CardChamp, we know there’s a better way to streamline your QuickBooks payment processing. Here are some pointers to help you out.

QuickBooks Tools to Streamline Payment Processing

Let’s start by talking about the built-in QuickBooks options that can help you to streamline your QuickBooks payment processing.

One of the easiest ways to cut back on your monthly workload is to create recurring invoices for regular orders. For example, a recurring invoice could work for:

  • Monthly subscriptions and monthly fees
  • Annual fees
  • Repetitive orders

To set up a recurring invoice, create the invoice as you want it to appear. Then click on Payment Options and select Make Recurring from the menu. From there, you’ll be able to specify how often to send the recurring invoice -- weekly, bimonthly, monthly, quarterly, and so on.

The other option that QuickBooks offers to help business streamline payment processing is the option to accept credit card payments via QuickBooks.

Processing Credit Card Payments with QuickBooks

Many of your clients or customers may prefer to pay you with a credit card. Paying on credit is a must for some companies -- and you need a secure and affordable way to accept credit card payments from those customers who prefer to use them.

QuickBooks payments offers credit card processing that allows you to invoice customers and accept their credit card payments using QuickBooks. The issue with using this option is that it will streamline your payment processing -- but at a price that may be more than you are comfortable paying.

All credit card transactions require the company accepting the payment to pay fees. The pricing has three parts, two of which are non-negotiable:

  • The interchange fee can range from 1.15% to 3.15% of the face value of the invoice plus a per-transaction processing fee
  • The assessment fee can range from 0.10% to 0.15% per transaction

The third fee is a processing fee, which is negotiable and highly dependent upon which company processes your credit card payments. Within QuickBooks, the fees are:

  • 2.4% for swiped credit cards (the most secure transactions)
  • 2.9% for invoiced credit cards
  • 3.4% for keyed credit cards

While Quickbooks builds in the cost of Interchange and Assessments into their pricing, your business can still end up paying up to 4% if you include their per transaction fees. Unless you have big margins built in to your products or services, the fees you pay can have a significant impact on your company’s profitability.

Streamline and Save Money

The good news is that there’s a way to get the convenience that comes with accepting credit card payments via QuickBooks without paying high fees for the privilege. We know because we created it!

CardChamp integrates seamlessly with QuickBooks, allowing you to accept credit card payments without leaving QuickBooks. From your clients’ standpoint, the change will be invisible. They’ll still be able to use their credit cards to pay invoices via a secure interface that protects their information.

The difference is that we aren’t going to charge you as much as Intuit does. We recognize that paying up to 4% in fees simply isn’t a viable option for many businesses. We’ve got three different plans to suit your payment processing needs.

The first plan is our wholesale pricing plan. There are three tiers based on your credit card processing volume. You’ll pay a monthly fee based on your tier, and then simply pay the interchange rate plus a $.06 per-transaction processing fee and zero basis points. This option is best for companies with a high volume of credit card transactions.

The second plan is the free payment plan. You’ll pay a $10 monthly fee. Then, you’ll send non-discounted invoices that include the processing fees to your clients. If they choose to pay with a credit card, they’ll pay the fee for convenience.

The final plan is our Match Capital Advantage Plan. It matches your current fees while also providing you with the working capital you need to grow your business.

The best part is that regardless of which plan you choose, you’ll still be able to benefit from the convenience and ease of using QuickBooks payments. Our software integrates with QuickBooks, allowing you to streamline the entire process for less money.

Streamlining your QuickBooks payment processing doesn’t need to be expensive. Simply choose the CardChamp plan that suits your company’s needs -- and let us take care of the rest!

Are you ready to save money on QuickBooks payment processing? Click here to learn how CardChamp can help!

Jimi Romanus

Written by Jimi Romanus

Currently rooting for the Milwaukee Bucks