How to Download Payment from Merchant Service Deposits to QuickBooks
If you have a QuickBooks Payments account, you can easily download your mobile payments transactions into QuickBooks Desktop or Online. This way, you can keep track of your sales, expenses, and deposits in one place. In this article, we will show you how to connect your QuickBooks Payments account to your company file, how to download mobile payments transactions into QuickBooks Desktop, and how to automatically record QuickBooks Payments bank deposits in QuickBooks Online.
how do i download this payment from merchant service deposits to be recorded in quickbooks
What is QuickBooks and why use it?
QuickBooks is a cloud-based accounting software that helps you manage your business finances. With QuickBooks, you can:
Create custom invoices and quotes
Track expenses and receipts
Connect your bank and credit card accounts
Manage inventory and projects
Run reports and insights
Accept payments online or on the go
Pay employees and contractors
Calculate sales tax and GST/VAT
Prepare for tax time
QuickBooks is easy to use and learn, integrates well with other systems and third-party applications, provides good accounting reports, and offers affordable pricing plans. You can also access QuickBooks from any device phone, tablet, or computer and sync your data across all devices.
QuickBooks features and benefits
Some of the main features and benefits of QuickBooks are:
Invoicing: You can create professional custom invoices, send payment reminders, and match payments to invoices automatically.
Expenses: You can get set for tax time with all your expenses organized in one place. You can also use your phone to take photos of receipts and match them to bills.
Bank Feeds: You can save time and reduce errors when you connect your bank to get a full view of your finances. You can also categorize transactions and reconcile accounts.
GST/VAT: You can easily organize expenses into tax categories and track sales tax on income and expenses so you know where you stand and how much you owe.
Inventory: You can stay on top of your orders and quantities while managing your inventory in real-time. You can also track costs, profits, and stock levels.
Capture & Organize Receipts: You can use your phone to take photos of receipts. Match them to bills to stay organized and ready for tax season with everything in one place.
Mobile App: You can save time by running your business on-the-go with your mobile device. You can create invoices, track expenses, accept payments, manage projects, and more.
Insights & Reports: You can see how your business is doing, and how it could look in the next 90 days, with a range of popular reports and the cash flow planner. You can also customize reports to suit your needs.
Multi-currency Support: You can send invoices, record transactions, and adjust reports in different currencies. You can also assign currencies to different customers.
QuickBooks pricing and plans
QuickBooks offers different pricing plans for different business needs. You can choose from the following plans:
Plan
Price
Features
Simple Start
$25/month
Track income and expenses, capture and organize receipts, maximize tax deductions, invoice and accept payments, run basic reports, send estimates, track sales and sales tax, manage 1099 contractors, track miles.
Essentials
$40/month
All the features of Simple Start, plus: manage bills, track time, handle multiple currencies, run advanced reports.
Plus
$70/month
All the features of Essentials, plus: track project profitability, track inventory, manage budgets and forecasts.
Advanced
$150/month
All the features of Plus, plus: accelerate invoicing with batch invoices and recurring invoices, customize access by role, automate workflows, restore company data, on-demand online training, premium care with Priority Circle.
How to connect your QuickBooks Payments account to your company file
If you have a QuickBooks Payments account, you can connect it to your QuickBooks company file to download your mobile payments transactions. Here are the steps to do so:
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Step 1: Open QuickBooks and go to the Get Online Payments window
In QuickBooks Desktop, go to the Customers menu and select Link Payment Service to Company File. In QuickBooks Online, go to the Settings menu and select Account and Settings. Then click on the Payments tab.
Step 2: Select Mobile Transactions and click OK
In QuickBooks Desktop, select Mobile Transactions from the drop-down list and click OK. In QuickBooks Online, click on Connect under QuickBooks Payments. Then sign in with your Intuit account credentials.
Step 3: Review the payments in QuickBooks
In QuickBooks Desktop, you will see a list of mobile payments that are ready to be downloaded. You can review them by clicking on View Transactions. In QuickBooks Online, you will see a confirmation message that your account is connected. You can review your payments by going to the Sales menu and selecting All Sales.
How to download mobile payments transactions into QuickBooks Desktop
If you have connected your QuickBooks Payments account to your company file, you can download your mobile payments transactions into QuickBooks Desktop. Here are the steps to do so:
Step 1: Go to the Record Merchant Service Deposits screen
In QuickBooks Desktop, go to the Banking menu and select Record Merchant Service Deposits. You will see a list of payments that are ready to be recorded.
Step 2: Add mobile payments individually or by batch
You can choose to add mobile payments individually or by batch. To add them individually, select a payment from the list and click on Add Payment. Then choose an account to deposit the payment into and click Save & Close. To add them by batch, select multiple payments from the list and click on Batch Actions. Then choose an account to deposit the payments into and click Save & Close.
Step 3: Check the recorded transactions under the green Recorded tab
You can check the recorded transactions under the green Recorded tab in the Record Merchant Service Deposits screen. You can also view them in your bank register or in your sales reports.
How to automatically record QuickBooks Payments bank deposits in QuickBooks Online
If you have connected your QuickBooks Payments account to your company file, you can automatically record your QuickBooks Payments bank deposits in QuickBooks Online. Here are the steps to do so:
Step 1: Go to the Banking menu and select Record Merchant Service Deposits
In QuickBooks Online, go to the Banking menu and select Record Merchant Service Deposits. You will see a list of bank deposits that are ready to be recorded.
Step 2: Select the Add payments to record tab
Select the Add payments to record tab at the top of the screen. You will see a list of payments that are included in each bank deposit.
Step 3: Review and edit the bank deposit details
You can review and edit the bank deposit details by clicking on Edit next to each deposit. You can change the date, amount, account, memo, or class. You can also add or remove payments from the deposit by checking or unchecking the boxes next to them. When you are done, click Save.
Congratulations! You have learned how to download payment from merchant service deposits to QuickBooks. You can now enjoy the convenience and accuracy of managing your payments and deposits in one place.
Conclusion
QuickBooks is a powerful accounting software that helps you manage your business finances. With QuickBooks, you can create invoices, track expenses, connect your bank accounts, accept payments, and more. You can also download your mobile payments transactions into QuickBooks Desktop or Online, and automatically record your QuickBooks Payments bank deposits in QuickBooks Online. This way, you can keep track of your sales, expenses, and deposits in one place.
If you have any questions or need help with QuickBooks, you can contact their support team or visit their website for more information. You can also check out the following FAQs for some common queries.
FAQs
Q: How do I sign up for a QuickBooks Payments account?
A: You can sign up for a QuickBooks Payments account by going to the QuickBooks website and choosing a plan that suits your needs. You will need to provide some basic information about your business and your bank account. You will also need to verify your identity and agree to the terms and conditions.
Q: How do I accept payments with QuickBooks?
A: You can accept payments with QuickBooks in different ways. You can send invoices with a Pay Now button that allows your customers to pay online with a credit card, debit card, or bank transfer. You can also use the QuickBooks Mobile app to accept payments on the go with a card reader or by entering the card details manually. You can also use the QuickBooks GoPayment app to accept payments without a card reader.
Q: How do I view my payment history and reports in QuickBooks?
A: You can view your payment history and reports in QuickBooks by going to the Reports menu and selecting Merchant Service Center. You will see a dashboard that shows your payment activity, deposits, fees, chargebacks, and disputes. You can also generate and download various reports such as sales by customer, sales by item, transaction list, deposit detail, and more.
Q: How do I refund a payment in QuickBooks?
A: You can refund a payment in QuickBooks by going to the Sales menu and selecting Customers. Then find the customer you want to refund and click on their name. Then click on the payment you want to refund and click on Issue Refund. Enter the refund amount and the reason for the refund. Then choose how you want to process the refund: either through QuickBooks Payments or outside of QuickBooks. Then click Save and Close.
Q: How do I resolve a payment dispute in QuickBooks?
A: You can resolve a payment dispute in QuickBooks by going to the Reports menu and selecting Merchant Service Center. Then click on the Disputes tab and find the dispute you want to resolve. Then click on View Details and follow the instructions on how to submit evidence or accept liability. You will need to respond within 10 days of receiving the dispute notification. 44f88ac181
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