 QuickBooks Online 2023. QuickBooks Payments set up. Get ready to earn the skills needed to boost your bank books on up with QuickBooks Online 2023. Support Accounting Instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course. Each course then organized in a logical reasonable fashion making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems PDF files and more like QuickBooks backup files when applicable. So once again click the link below for a free month membership to our website and all the content on it. Here we are in our QuickBooks Online test company file using the account in view as opposed to the business view you can toggle between the two views by going to the cog up top and switching the view down below. We're looking at the setup process for QuickBooks Online payments noting before we do that testing out and setting up QuickBooks Online payments can be a little bit more difficult than testing out other tools within QuickBooks Online because we're basically setting up baking within QuickBooks Online that will be integrated with QuickBooks Online and therefore have to go through a kind of approval process. So we often don't have the capacity to practice with these tools with things like the free QuickBooks Online test drive sample company file. Also keep in mind that if you're looking to set up your QuickBooks Online payments you might want to first think about talking to a QuickBooks Online advisor who may be able to set you up with more favorable rates that might be something to look into but here is the process we can go to the cog up top we're going to go to the account and settings within the account and settings we go into the payments area and then we have QuickBooks payments it says get paid more ways fast take credit cards and your bank transfers accept payments through QuickBooks email invoices and mobile QuickBooks automatically updates when you're paid that's what we want to see so let's learn more about it. So we're going to go into here we have fast simple payments write and QuickBooks accept payments online or in person customers may pay by credit card start Apple credit card Apple pay or bank transfer your books are reconciled automatically if you want to take a look at the rates which of course is always a good idea so the rates could change over time so take a look at the rates we've got the fee type the description and the cost so you got the transfer fee amount charged for each transfer including batch jobs we've got the discount rate for visa mastercard discover network american express and jcb percent of transaction that is deducted as a fee you will be billed for the accumulated charges for each submitted batch then you've got the charge back fee amount added to each dispute transaction amount you've got the bank reject fee amount charged for failure to pay fees due to bad bank or credit card transactions you got the ach transaction fee amount charged each time an electronic bank payment is paid to you and then you've got the returned check fee fee charged for failed electronic bank payment so notice that most of these fees are happening obviously as the transactions are taking place and they're getting a piece of the transactions we talked a little bit about how you might want to think about that you know your payment structures and how you're going to think about how particular customers might pay you in different scenarios in a prior presentation so then we have to get started we need some quick information so you've got the business information which includes the federal tax id e in website address phone you've got the personal information name address phone number last four of social security and then you've got the deposit account information connect your bank account to receive payment so once you've entered this information into the system this should go from a great out to activate payments so i'm going to go ahead and activate payments then it says you're all set now we're ready to take payments online and in person confirm your number and we'll text you a link to download the quickbooks go payment app where you can start taking card payments so we talked about in a prior presentation the go payment app is an app other than you know the quickbooks online app designed specifically for accepting payments only as opposed to the quick books online app which has you know everything kind of in it so i'm going to say all right text me the link as i'm setting that up on the old phone select an account to keep your books up to date so save hours each month when you let quickbooks automatically being uh match your bank deposits with the receipts or invoices select the account to corresponds to your bank so in other words when you start to receive payments then it's going to have to batch those payments to help match the format that it's going to be deposited into your checking account and in order to automate that we've got to tell it you know which account it's going to be going into so i would assume this is going to be our normal checking account so we're going to save that then and then it says you're good to go we already got your information charge on so great so i'm going to say okay that was a pretty easy setup process so that's the process