QuickBooks credit card payment function allows you to take credit card payments and generate invoices for your clients. QuickBooks Online integrates your payment information into the accounting software and will enable you to view sales statistics in real-time. To understand how to handle credit card payments in QuickBooks Online, you must first master the step-by-step approach.
The QuickBooks Payments account is required if you wish to handle credit cards in QuickBooks Online. Before you begin the process of accepting credit card payments, make sure of two things:
You must first open a QB payments account.
Choose the place where you want to keep track of your payments and fees.
How To Fill In Credit Card Payments In QuickBooks Online
By integrating your bank, you can effortlessly add credit card transactions. To add credit card payments, follow these steps:
Show the Accounts Chart of Accounts List
To begin, click on the gear button to access the chart of accounts list.
Make a Credit Card
You must now enter the credit card account details. Following that, supply the account type details, a description, the account name, detail type, and the current account balance. You must click on the new button and fill out the forms with the necessary information.
View the Most Recent Chart of Accounts
Following that, ensure that the new credit card account is added to your chart of accounts. You must navigate to the chart of accounts list and search for the latest version.
Navigate to Credit Card Register.
After you’ve added a new credit card account, you’ll be able to view the account register. The account register will show you all of the transactions you’ve entered in QB for credit cards.
In QuickBooks, enter credit card charges.
You must first go to the credit card registration and enter the information in the appropriate boxes. In this way, you may enter credit card charges into the programme. You must now pick the transaction type. Following that, you must select a transaction type by clicking on the drop-down arrow. After entering the required information into the forms, you must save the credit card transaction.
How To Record Credit Card Payments In QuickBooks Online?
The programme allows you to record credit card payments in a variety of ways. This will enable you to keep track of your costs and provide reliable financial reports.
How to Write a Cheque
If you received payment by cheque, you must generate a cheque to record a credit card payment. To make a cheque, follow these steps:
- To begin, select + New.
- Second, choose the cheques option.
- You must provide the credit card’s name.
- The next step is to select a bank account or credit card.
- After that, enter the cheque number. If the payment is made electronically, use the abbreviation EFT.
- If the cheque has already been issued, you must uncheck the print later.
- Include the specifics of the outstanding transaction as well as the payment amount.
- Finally, press the Save and close buttons.
How To Create A Transfer?
To record a credit card payment by bank transfer, follow these steps:
- Initially, select + New.
- You must now click on transfer.
- You must choose the bank account from which you will make your payment.
- Now, choose the credit card from which you got the payment.
- You must provide the payment amount.
- After that, change the date.
- Finally, click save and then close.
How To Create Your Credit Card Provider As A Vendor?
- Select Vendors from the Expenses menu
- In the upper right-hand corner, click the new vendor green button.
- Add the “Credit Card Provider’s Name” (ex. Chase Cardmember) to your credit card statement to the company box. Check the “display name on print check” box as well.
- Enter “We use this vendor to record credit card payments” in the notes area. This phase helps inform team members who are unfamiliar with how QuickBooks Online works.
- To close the vendor window, click Save.
How To Operate Credit Card Payments In QuickBooks Online
Given below are the two processes to operate credit card payments in QuickBooks Online.
#1 Method
To receive money, you must first create an invoice for the customer. You can apply a payment that has been processed to an open invoice by following these steps:
- To begin, select + New.
- Following that, you must select “receive money.”
- Now enter the customer’s details and the payment date.
- Then, select the option to open an invoice. To get a partial payment, change the information in the amount received.
- You must select the credit card option.
- You must enter your credit card information.
- Select the option to process the credit card.
- You must save your work.
- Save and shut the window.
- Finally, you have to click on the new option.
#2 Method:
If you do not use invoices, you can process credit cards using a sales receipt. The following steps will show you how to produce a sales receipt in QuickBooks Online:
- At the start, select + New.
- Now, click on the sales receipt and fill out the customer information.
- Add a product or service next.
- Select the credit card option.
- You must provide the correct credit card information.
- You must select the credit card processing option.
- Select the Save option.
- Save and shut the window.
- Finally, choose new.
Conclusion
This article’s medium is intended to explain how to process credit card payments in QuickBooks online? How to fill in credit card payments in QuickBooks online?
How to record credit card payments in QuickBooks online? How to write a cheque? How to create a transfer? How to make your credit card provider a vendor? And how to operate credit card payments in QuickBooks online? We hope you can now transfer your credit card payments to QuickBooks Online. However, if this is not the case and you are still unable to process it. We recommend dialing +1(860) 485 7448 and get in touch with one of our QuickBooks Customer service providers who are there for you anytime, any day.