What is QuickBooks Payments

QuickBooks Payments enables businesses to process credit card and ACH payments for invoices directly inside of QuickBooks with efficiency and flexibility. It also assists business owners with time-consuming and detail-oriented tasks such as invoicing, reconciliation, and managing their payment plans and credit card processing.

How Does QuickBooks Payments Work

QuickBooks Payments lets businesses accept payment directly through the invoice by adding a “Pay Now” button. It also enables businesses to receive payments the day after customers have paid with instant deposits.

By integrating with the clients’ bank, QuickBooks Payments makes it easy for businesses to manage their books. Since payments are made directly inside of QuickBooks, reconciliation is easy as payments are automatically matched with invoices.

Invoice Style Options

What Are The Costs

The cost of using QuickBooks payments differs according to the following:

  • Method of use – QuickBooks Online or QuickBooks Desktop.
  • Pay-as-you-go or monthly pricing.
  • How the payments are processed. 

Let’s take a look at the costs in more detail:

 

Fee type

QuickBooks Online

QuickBooks Desktop “Pay as you go” Plan

QuickBooks Desktop “Pay monthly” Plan

Monthly fee

None

$0

$20

ACH bank transfer

1% (Max $10)

$3.00

$3.00

Credit card – swiped

2.4% + 25 ¢

2.4% + 30 ¢

1.6% + 30 ¢

Credit card – online invoice

2.9% + 25 ¢

3.5% + 30 ¢

3.3% + 30 ¢

Credit card – keyed

3.4% + 25 ¢

3.5% + 30 ¢

3.5% + 30 ¢

Why People Are Looking To Switch From QuickBooks Payments

While QuickBooks Payments offers some genuine benefits to its users, it is not necessarily the best value because of its monopolistic position. Many people tend to get tied into using QuickBooks Payments because it is easy to use and there are no integrations or complicated setup processes. Because of this, they pay a premium price. There are many merchant services companies that are less expensive than QuickBooks Payments which provide more features for a lower price. However, it is not easy to handle payments inside QuickBooks using a third-party credit card processor.

 

Why Biller Genie Is The Best Alternative To QuickBooks Payments

Biller Genie is an intuitive solution that integrates with all major credit card processors and all versions of QuickBooks Online and QuickBooks Desktop. Biller Genie lies in the middle of the entire ecosystem and is vital for connecting the payment providers to QuickBooks, which has previously been difficult to do.

Subscribers create invoices as they normally do, and we take over from there. We send out the invoice via email to subscriber customers, who can then pay online with credit card or ACH. Once a payment is made, we instantly market the transaction as paid in QuickBooks.

Biller Genie is easy to use. There is no new software to learn, and your account can be set up in minutes. Our knowledgeable staff will place your accounts receivable on auto pilot during a 15-minute training call, so you can sit back, relax, and watch your invoices get paid.

 

Some of the other benefits that Biller Genie offers its customers are:

  • Works with any major credit card processor
  • 40% reduction in overdue invoices
  • Get paid 15 days faster
  • Save 10-20 hours per week of administrative work
  • L2 & L3 processing

 

Biller Genie comes with a slew of other features such as a branded portal for customers to manage their accounts, a custom schedule of reminders to ensure invoices are paid on time, and technology fees, which offset the cost of processing invoice payments.

Based on the benefits mentioned above, it’s safe to say that Biller Genie is an alternative to QuickBooks payments that is worth considering. Businesses can seamlessly integrate the cloud-based platform with QuickBooks to save time and money.