Intuit Quickbooks Payments

4/5 stars

A payment processing tool that allows businesses to accept payments directly through their QuickBooks software, streamlining accounting and invoicing processes.

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Pros

Seamless Integration with QuickBooks: Automatically updates accounting records, simplifying bookkeeping tasks.
Variety of Payment Methods Supported: Accepts credit cards, debit cards, and ACH transfers, catering to different customer preferences.

Cons

Fees Can Be High for Low-Volume Transactions: May not be cost-effective for businesses with low transaction volumes.
Limited to QuickBooks Users: Best benefits are realized when used within the QuickBooks ecosystem, which may not suit businesses not using QuickBooks.

The Bottom Line

QuickBooks Payments offers a convenient and efficient way for QuickBooks users to process payments, enhancing their overall financial management and bookkeeping efficiency.

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Plans & Pricing

Transaction Fees

Costs vary based on transaction type

Variable/

Invoices or quick requests using Visa, Mastercard, Discover, American Express, Apple Pay, PayPal, and Venmo: 2.99%
ACH Bank payments: 1%
In-person payments with a card reader: 2.5%
Payments processed by manually entering a customer’s card information: 3.5%

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Continue on Intuit website

Since Quickbooks Payments is an integration for those already using Quickbooks, the pricing is dependent on the transactions being processed. Check your Quickbooks plan to see if this is an option for your business.

Pricing information is retrieved from publicly accessible pricing materials. The actual cost may vary based on specific plans chosen. Always check directly with the seller for the final quote.

Pricing information last updated March 7, 2024.

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Product Review

QuickBooks Payments is a payment processing service designed by Intuit, primarily to integrate with QuickBooks, the widely-used accounting software. This integration allows businesses to accept payments directly through invoices, sales receipts, or in person, and automatically updates the accounting records in QuickBooks, streamlining the reconciliation process and ensuring accuracy in financial reporting.

Here are some of its key features:

Multiple Payment Methods: Accepts various forms of payment including credit card, debit card, and ACH bank transfers, offering flexibility to customers.
Mobile Payment Processing: Provides a mobile app for processing payments on-the-go, ideal for businesses that operate remotely or in the field.
Invoice Payments: Enables businesses to send invoices directly from QuickBooks with a “Pay Now” button, simplifying the payment process for both the business and its customers.
Instant Deposit: Offers an instant deposit feature for quicker access to funds, improving cash flow management for the business.

What sets QuickBooks Payments apart from its competitors is its seamless integration with QuickBooks’ suite of financial and accounting tools. This integration enables automatic updating of financial records upon receiving payments, saving time and reducing errors compared to manually entering payment information. Additionally, QuickBooks Payments offers competitive rates, especially for QuickBooks users, and supports a variety of payment methods, including credit cards, debit cards, and ACH transfers, making it a versatile option for businesses of all sizes.

Best for: QuickBooks Users Seeking Seamless Payment Integration

This product is best suited for small to medium-sized businesses (SMBs) that already use or plan to use QuickBooks for their accounting and financial management needs. It’s especially beneficial for businesses looking for a seamless way to manage invoicing, payments, and bookkeeping in one place. Enterprises with more complex payment processing needs or those not using QuickBooks might not find as much value. Businesses looking for the most cost-effective processing fees without regard for integrated accounting features might also want to consider alternatives.

Why We Love It:

Effortless Accounting Sync: Ensures financial records are always up-to-date without manual data entry.
Flexible Payment Solutions: Offers customers multiple payment options, enhancing the customer payment experience.
Competitive Pricing: Provides beneficial rates for QuickBooks users, adding value to the QuickBooks ecosystem.
Mobile Payments: Supports on-the-go payments with its mobile app, allowing for invoicing and payment collection anywhere.
Enhanced Cash Flow Management: Speeds up the payment process, improving cash flow with faster access to funds.