Getting Paid Faster in QuickBooks

accounts receivable quickbooks desktop quickbooks online quickbooks payments time saving tips May 24, 2020
QuickBooks payments

No one likes to wait for their money to get paid by a client. It’s painful to make collection calls and even worse hearing “the check is in the mail”. Accepting credit cards is the cost of doing business and is widely accepted. Integrating this task inside QuickBooks is a huge time saver eliminating manual entries.

When you use QuickBooks Financial software (online or desktop) and add QuickBooks Payments you make your software super powerful because you can now accept many forms of payment, including credit card payments or ACH. When this method is used, you can track the customer’s payment from beginning to end where the invoice is showed paid. 

The rates for QB Payments are reasonable and most cases lower than their competitors. Funding for credit cards is around 2-3 days and 5 days for ACH. You can test drive it without any long-term contracts or termination fees. It’s the only merchant service provider that is integrated with QuickBooks software. 

There are several methods for getting paid. Here we will share the various tools we use: 

#1 QuickBooks Payments

  • Clients can call in their payment information to manually key
  • Clients can present the card to swipe or manually key
  • Email your client an invoice and they can click a pay now link to pay 

#2 GoPayment Mobile 

QuickBooks Payments includes GoPayment (GP) for no extra fee, it even uses the same low swipe rate. You can sign up for GP separately but it has a different, higher rate structure. Be sure to understand GP isn’t fully integrated with your financial software so you are required to do a few extra steps to line it up with the correct invoice.  

#3 e-Invoicing

Another great feature is that QuickBooks Payments now includes e-Invoicing. This allows you to email a client an invoice and they simply click a link to pay the invoice in full. There is no extra fee for this service. This is a very popular feature and easy to use.

#4 Bill & Pay Provides Advanced Electronic Invoice Features

If you need any of these other features, we recommend Bill & Pay. It integrates with QuickBooks Financial Software and uses QuickBooks Payments. You would use this program instead of e-Invoicing.

Here are some reasons to add this additional tool:
  • Create payment plans that are approved by the client.
  • Clients can log in to their portal to see their invoice and payments history.
  • Clients can short pay, overpay use different credit cards on one invoice.
  • Put a link on your website so clients can access their accounts.
  • Set up automatic reminders to send on unpaid invoices.
  • Email statements to customers with a pay now link.
  • Send a sales order with a pay now link 

My company, Complete Business Group uses QuickBooks payments, Bill & Pay, and QuickBooks Enterprise. We have used this winning combination for over six years. If our clients do not need the additional features offered by Bill & Pay, we simply set them up to use QuickBooks payments and utilize all the free tools including e-invoicing and Go Payment. 

Here is the bottom line, we all want to get paid and we want it to be as fast as possible. Try QuickBooks Payments today at no risk as you can cancel anytime with no termination fees. If you find you need additional benefits that e-invoicing cannot offer, then add the additional tool of Bill & Pay for a winning combination.

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