QuickBooks Corner – Tips & News about QuickBooks
By Sharon Wolfe, QuickBooks Certified Professional Advisor

How To Get Paid Faster From Your Clients?
Accept Credit Cards

(We”ve Tried It – We Like It! We Highly Recommend It!)

To simplify matters, yours truly is only accepting MasterCard/Visa at this time. My clients like paying by credit card for several reasons; but a big bonus for them is that they can pay my bill AND rack up air mileage or get points for other incentive programs on their credit cards.  I like it because I get paid faster and I can keep my accounts receivables under 30 days.

QuickBooks details say:

“Get paid faster. Credit cards make it easier for your customers to pay on time. They can use Visa, MasterCard, American Express, Discover or Diners Club to pay over the phone, by mail or in-person. Simply enter their information into QuickBooks, click "Send," and the payment is authorized online within seconds.

Save time. Your customers' credit card information is encrypted and stored in QuickBooks, so you don't need to re-enter their card number every time they make a payment. You don't need to run to the bank either because payments are automatically deposited into your business checking account

Save money. You don't need a card swipe terminal or a dedicated phone line. There's no additional hardware or software to install. All you need is QuickBooks 2001 and an Internet connection. (Service fees apply.)

Get started quickly. It takes only 15 to 20 minutes to apply for the QuickBooks Merchant Account Service. Apply now and start enjoying the benefits of getting paid faster.

Can I use my existing merchant account with this service?
You must apply for the QuickBooks Merchant Account Service to enter and process credit card payments that you accept from your customers by phone, via mail or in-person, from within QuickBooks.

Can this service accept credit card payments from my Web Site?
No. The QuickBooks Merchant Account Service is currently designed to let you accept credit card payments only through QuickBooks when your customers pay by phone, via mail, or in-person.

However, we do offer another service called QuickBooks Online Billing that lets you get paid online from your Web Site when you e-mail your invoices or estimates to your customers.

Which financial institution should I choose when I apply for the QuickBooks Merchant Account Service?
QuickBooks offers a choice of two financial institutions for the Merchant Account Service.(WELLS FARGE & CHASE) Click here to determine which financial institution is right for you.

When will my credit card payments be deposited into my account?
Credit card payments received through the QuickBooks Merchant Account Service will be deposited into your existing business checking account within 8 business days after you process a payment.”

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Last modified: November 08, 2002