What’s Changing?
In the past, when you sent an invoice without enabling any online payment options, customers didn’t have the ability to pay electronically.
With this new feature, QuickBooks will provide ACH bank payment as an option for customers to pay online. Even if other payment methods like credit cards or PayPal are turned off.
How Does It Work?
Here’s how the new ACH bank payment feature works:
- For Merchants with Active QuickBooks Payments Accounts: If you have an active QuickBooks Payments account and send an invoice with all online payment options disabled, your customer will still have the option to pay online via ACH.
- Convenience Fee for the Payor: While there’s no cost to you (the merchant), the customer (payor) will be charged a small convenience fee to use this ACH payment option.
- 5-Day Settlement Period: ACH payments will be subject to a 5-day deposit settlement period, after which the funds will appear in your account.
- No Impact on Your Books: The convenience fee won’t appear in your accounting records, so you won’t need to do any additional work.
How to Tell If You Have an Active Payments Account
Follow these steps to find out if you have Active Payments turned on:
- Click the gear in the upper right corner
- Click Account and settings in the YOUR COMPANY column
- Click Payments in the left side menu
If you see a green Manage account button in the Merchant details section, you have Active Payments turned on.
How to Manage the New ACH Payment Option
By default, this new feature will be enabled automatically for QuickBooks Payments customers.
If you’d prefer not to offer this option you can turn it off by following these steps:
- Click the gear in the upper right corner
- Click Account and settings in the YOUR COMPANY column
- Click Sales in the left side menu
- In the Invoice payments section, find a box labeled Your customer pays the fee, uncheck the box
- Click the Save button
- Click Done in the lower right corner
Intuit provided a link to a form in the email I received to leave comments/feedback on this new feature.
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Below is a video if you prefer to watch me go through this.
