When you’re trying to run a business, it just makes sense to take advantage of tools that are going to make things easier. Especially when they are going to save time and money for you too.
Automation is key
These two tools go hand-in-hand and can work wonders for your business. Because QuickBooks Payments fully integrates with your QuickBooks Online subscription, it automates many of the tasks you or someone on your staff would have to do manually with other merchant payment processing options.
Among other things, QuickBooks Online can automate recurring sales receipts with saved customer payment details and post the deposit to the corresponding bank account.
There’s more
Once the payment is deposited, there’s nothing to do there either, because QuickBooks Payments automatically moves the transaction to the bank register and records any processing fees.
QuickBooks Online also automatically matches the transaction and the deposit in the bank feed to eliminate human error and the need to match transactions manually.
Simplicity helps
QuickBooks Payments charges a per-transaction fee for the service, and there’s no flat recurring charge.
QuickBooks Payments rates (March 2023)
Total cost of ownership is also key
When comparing payments processing costs, you must consider the labor savings QuickBooks Payments provides that other merchant services processors cannot. Some may charge a little less for payments processing, but the savings is trivial compared to the labor savings QB Payments provides.
So from one perspective, it’s no surprise QuickBooks Payments costs a little more; it provides a great deal more value. Further, as this blog says, there are several steps you can take with Peak Advisers to reduce processing costs and retain the value provided by QB Payments.
As a QuickBooks Solution Provider, Peak Advisers is able to offer our clients certain discounts with QuickBooks Payments. Additionally, clients can request special pricing if they process more than $7,500 per month. Get more information about that here.
Here’s what’s required to qualify for a rate review:
You processed on average $7,500 per month through QuickBooks Payments in the last three months.
You processed with QuickBooks Payments for at least the last three consecutive months.
Your account doesn’t currently have funds on hold and remains in good standing.
Contact us to get started with QuickBooks Payments, QuickBooks Online, or both.