Inside QuickBooks Payments

QuickBooks Online and Desktop both offer their own payment center that helps you better navigate that portion of your business. Here you can track your income and expenses, organize receipts, send invoices and accept payments, track sales and sales tax, and run basic reports. If you have both a QB account and a Payments account, you can sync the two for added ease. Let’s discuss what kind of features you’re going to benefit from by using this software. 

Manage your payments like a pro

QBO Payments will track bill status and record payments for you. 

QBO automatically updates your books for payments you accept

Don’t stress about keeping up with every little transaction in your business. QBO Payments will automatically update your books based on the payments you accept. We suggest double-checking your books for accuracy at the end of the week, just to make sure no mistakes slip through. 

Set Up Payment Reminders

Sometimes people won’t pay you on time. Send them a quick reminder by setting up Payment Reminders in your QBO Payment Center. Simply go to Customers > Payment Reminders > Schedule Payment Reminders. From there, set up a New Schedule to determine how late a payment must be to warrant the reminder. Pick and choose which customers will receive a payment reminder and edit the email content accordingly. Don’t forget to save your changes. 

When it comes time to send out Payment Reminders, go to Customers > Payment Reminders > Review and Send Payment Reminders. From there, you can choose from the list of invoices to resend with a reminder. 

Receipt Capture

Snap a picture of your receipt with your SmartPhone, upload to QBO, and attach it to an expense in your phone for reference. 

Receive payments via credit card or bank transfer

For a bank transfer, choose the E-Check option, and you will need to confirm the other person’s bank account and routing number, so ensure the transfer takes place correctly. QB will let you know if everything worked out smoothly. For a credit card, you can swipe the card if you have a reader, otherwise you need to enter the card information accurately to receive payment. 

If you run into issues setting up your Payments account, syncing with your QBO account, or anything in between, contact us for expert bookkeeping and QuickBooks assistance. For the best deal on QBO your subscription, call us today at (734) 335-7702.