16 Nov QuickBooks Merchant Services
New with version 2000 was the ability to process merchant charges through QuickBooks. This link permits customers to pay with a credit card, and allows the business to process the payments on-line and subsequently download the information directly into QuickBooks. With QuickBooks Version 2001, the customer information and receive payment screens were expanded for capturing the credit card information, whether the credit card service through QuickBooks is used or not.
For a list of QuickBooks Merchant Account Service Frequently Asked Questions, visit http://www.merchantaccount.quickbooks.com/faq1.htm
This system does require that Wells Fargo Bank or Chase Bank provide the Merchant Services through a QuickBooks merchant account. If the business is currently processing credit cards through another service provider, a change will be required to permit the interface with QuickBooks. The deposits can be made to any bank account that has the ability to accept electronic funds transfers. For fees (monthly fee, discount fee, etc.), credit card types, application, funding delay, billing statement and special fees details visit http://merchantaccount.quickbooks.com/mas2001ficompare.htm
Once the application for the merchant account is approved, transactions can be processed through QuickBooks:
- 1. Customers > Accept Credit Card Payments > Process Credit Card Payments
- 2. Once the customer’s credit card information on the merchant account web site has been entered, the authorization information will appear
- 3. The final step is to download the approved payment into QuickBooks.