The credit card feature in QuickBooks Online allows you to accept credit card payments and generate invoices for the customers. QuickBooks Online syncs your payment data into the accounting software and permits you to see the sales data real time. To know how to process credit card payments in QuickBooks Online, you need to learn the step by step procedure of the same.
In case you want to process credit cards in QuickBooks Online, you need the QuickBooks Payments account. Before going through the steps of processing credit card payments, make sure of two things:
- You need to sign up for the QB payments account.
- Select the location to record your payments and fees.
How to Process Credit Card Payments in QuickBooks Online?
These are the two methods to process card payments with your payments account.
Method 1: Receive a Payment Toward an Invoice
To receive a payment you need to generate an invoice for the customer. By following these steps you will be able to apply the payment that processes to an open invoice:
- Firstly, click on + New.
- Thereafter, you have to click on receive payment.
- Now, add the customer information and payment date.
- Next, click on the open invoice option. To receive a partial payment, modify the details given in the amount received field.
- You need to click on the credit card option.
- You have to add the credit card info.
- Click on the process credit card option.
- You need to click on save.
- Click on save and close.
- Finally, you have to click on the new option.
Method 2: Create a Sales Receipt
You can process a credit card with a sales receipt if you are not using invoices. These steps will help you to know how to create a sales receipt in QuickBooks Online:
- In the beginning, click on + New.
- Now, click on the sales receipt and add the customer info.
- Next, add a product or service.
- Click on the credit card option.
- You have to add the correct credit card details.
- You need to click on the process credit card.
- Click on save option.
- Click on save and close.
- Lastly, click on new.
Now, let’s understand the steps of how to enter credit card payments in QuickBooks Online.
How to Enter Credit Card Payments in QuickBooks Online?
You can easily add credit card transactions by connecting your bank. You need to follow these instructions to add credit card payments:
- Display the Chart of Accounts List
- Create Credit Card
Now, you need to add the credit card account information. Thereafter, provide the details of the account type, a description, the name of the account, detail type, and the current account balance. You need to click on the new button and add the information in the fields.
- View Updated Chart of Accounts
Next, make sure that the new credit card account is added to your chart of accounts list. You need to go to the chart of accounts list and look for the new account.
- Go to Credit Card Register
You can access the account register after adding the new credit card account. The account register will provide you all the transactions that you have recorded to the credit cards in QB.
- Add Credit Card Charges in QuickBooks
You have to go to the credit card register and then add the information in the fields. This manner, you can add credit card charges in the software. Now, you have to select the transaction type. Thereafter, you need to click on the drop down-arrow and then click on a transaction type. After adding the necessary info in the fields, you need to save the credit card transaction.
How to Record Credit Card Payments in QuickBooks Online?
The software permits you to record credit card payments in different ways. This manner you can keep track of your expenses and maintain accurate financial reports.
Steps to Write a Cheque
If you have received the payment through cheque, you need to create a cheque to record a credit card payment. Follow these steps to create a cheque:
- Firstly, click on + New.
- Secondly, click on the cheques option.
- You have to add the name of the credit card.
- Next, you need to click on the bank account or credit card.
- Thereafter, add the cheque number. If paid electronically, then type EFT.
- You have to uncheck print later in case the cheque was already issued.
- Add the outstanding transaction details and a payment amount.
- Finally, click on save and then close.
Steps to Create a Transfer
Follow these instructions to record a credit card payment through a bank transfer:
- Initially, choose + New.
- Now, you have to click on transfer.
- You need to select the bank account through which you will pay.
- Now, select the credit card in which you have received the payment.
- You have to add the amount of the payment.
- Thereafter, edit the date.
- Lastly, click on save and then close.
Hopefully, you have got an idea of how to process credit card payments in QuickBooks Online with the help of the blog. Along with this, we have discussed how to enter credit card payments in QuickBooks Online, and how to record credit card payments in QuickBooks Online. You can also receive payments and create sales receipts on your mobile devices.
If you have any further queries related to how to process credit card payments in QuickBooks Online, then dial QuickBooks Support Phone Number. (Toll- Free).