Whether you have to track the company data or handle business financial activities, you can trust QuickBooks software. This software is helpful for small as well as mid-sized businesses as many business tasks can be easily performed. There are different features which are offered by this software. Here we will discuss the feature named credit card payments. Most importantly, with this feature, you can easily accept credit card payments as well as generate invoices for the customers. In this manner, you can see the sales data in real-time. This write-up will make you understand how to process credit card payments in QuickBooks Online.
Note: It is must to sign up for the QuickBooks payments account. Secondly, choose the location to record your payment and fees. Keep these points in your mind while processing credit card payments.
These are the two methods for processing card payments with your payments account:
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Follow the instructions as stated below:
Initially, by hitting on the gear icon you need to proceed to the ‘chart of accounts list.
Your next task is to add credit card information. Also, give the details of the account type, name of the account, a description, current account balance, and detail type. Proceedings further, hit on the ‘new’ button and add the details in the field.
Just check that the new credit card account is added. Just after this, you need to go to the chart of accounts list and seek out the ‘new account’.
In the second last step, you can access the account register.
Simply, by going to the credit card register add the details. Next, you need to choose the transaction type shown option. After that, hit on the drop drown arrow. You are required to click on a transaction type. Finally, you need to save the ‘credit card transaction’.
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Recording credit card payments in QuickBooks Online will help you in maintaining accurate financial reports:
In case you have received payment via cheque, you are required to create a cheque for recording a credit card payment:
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Follow the below steps to record a credit card payment:
We believe that you have got the idea of how to process credit card payments in QuickBooks Online. If you find difficulty in following the steps of processing credit card payments, then quickly get connected to QuickBooks professionals. They have an excellent understanding of the software feature and resolve the issues related to it instantly.
In case you have any doubt related to how to process credit card payments in QuickBooks Online, dial 1-855-749-2321.
Ques- Is a credit card payment a credit or debit account?
Ans- Credit cards, as well as loans, are liability accounts. On the other hand, received payments are debits. Purchases/expenses are credits.
Ques- What is the process to reconcile a credit card statement?
Ans- Follow these steps to reconcile a credit card statement:
Ques- What are the steps required to set up credit card payments in QB?
Ans- These instructions will help you to set up credit card payments:
Ques- How I am supposed to set up credit card payments in QuickBooks software?
Ans- You can set up credit card accounts with the help of these steps:
Ques- How to categorize credit card payments?
Ans- The steps will help you to categorize credit card payments: