QuickBooks is a popular accounting software used by small businesses. If you’re thinking of using QuickBooks to manage your finances, you may be wondering how much it will cost to process credit card payments.
Here’s a quick overview of QuickBooks’ credit card processing fees.
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Quickbooks Credit Card Processing Fees
Intuit’s Quickbooks is a small business accounting software that allows businesses to track sales and expenses, pay bills, and manage inventory. Quickbooks also allows businesses to accept credit card payments. Fees for credit card processing are generally 2.9% + $0.30 per transaction.
QuickBooks Credit Card Processing Fees are assessed as a percentage of each sale, ranging from 1.6% to 3.5%, plus a flat $0.15 per transaction fee. The actual rate you’ll be charged depends on the type of card used (e.g., business or rewards) and your total monthly sales volume. For example, if you process $10,000 in credit card sales per month, your QuickBooks Credit Card Processing Fee would be 1.75% + $0.15 per transaction, or $175 + $15, for a total of $190 per month.
Intuit QuickBooks Payments offers four pricing plans for businesses to accept credit card payments. The “Pay As You Go” plan has no monthly fee and charges 2.4% + $0.25 per transaction. The “Standard” plan has a monthly fee of $20 and charges 2.2% + $0.25 per transaction. The “Plus” plan has a monthly fee of $35 and charges 1.75% + $0.25 per transaction for swiped, chip or contactless payments, and 2.4% + $0.25 per transaction for keyed-in payments. Lastly, the “Advanced” plan has a monthly fee of $60 and charges 1.5% + $0.25 per transaction for swiped, chip or contactless payments, and 2.4% + $0.25 per transaction for keyed-in payments.
How to Avoid Quickbooks Credit Card Processing Fees
Paying by credit card is a popular payment option for small businesses and freelancers worldwide. If you use Quickbooks to manage your finances, you may be wondering how much Quickbooks charges for credit card payment processing. The answer is, it depends. In this article, we’ll explain how Quickbooks credit card processing fees work and how you can avoid them.
Use a Quickbooks-Compatible Payment Processor
One way to avoid Quickbooks credit card processing fees is to use a Quickbooks-compatible payment processor. These processors are integrated with Quickbooks, so you can process payments directly through Quickbooks without having to pay any additional fees.
Here are a few Quickbooks-compatible payment processors to consider:
-Payment Depot: Payment Depot charges a flat fee of 2.39% + $0.25 per transaction, regardless of the type of card you use. There are no monthly or hidden fees, so you know exactly how much you’ll be paying each time you process a payment.
-FlatRate: FlatRate charges a flat fee of 2.75% per transaction, regardless of the type of card you use. There are no monthly or hidden fees, so you know exactly how much you’ll be paying each time you process a payment.
-Dwolla: Dwolla charges a flat fee of $0.25 per transaction, regardless of the type of card you use. There are no monthly or hidden fees, so you know exactly how much you’ll be paying each time you process a payment.
When choosing a Quickbooks-compatible payment processor, be sure to compare pricing and features to find the best fit for your business.
Use a Quickbooks Alternative
While Quickbooks is one of the most popular accounting software programs available, it does have some drawbacks. One of the biggest is the fees associated with processing credit card payments.
Fortunately, there are alternatives to Quickbooks that can save you money on credit card processing fees. One option is to use a third-party processor like PayPal or Stripe. These companies charge lower fees than Quickbooks, and they can also save you money on other transaction fees like foreign transaction fees and interchange fees.
Another option is to use a business credit card instead of a personal credit card for your business expenses. Business credit cards often have lower interest rates and annual fees than personal credit cards, and they may also offer rewards like cash back or points that you can use for travel or other expenses.
If you’re still using Quickbooks, there are a few things you can do to reduce your credit card processing fees. First, make sure you’re using the latest version of the software, which offers discounts on processed payments. Second, consider upgrading to a paid subscription, which gives you access to lower processing rates. And finally, take advantage of any special promotions or offers from payment processors that can save you money on your transactions.
Quickbooks Credit Card Processing Alternatives
Quickbooks credit card processing allows you to take credit cards as payment for your products or services. The service does charge a fee, however. When you use Quickbooks to process your credit cards, you will be charged 2.4% + $0.25 per transaction. You can also choose to have Quickbooks process your credit cards through their merchant account, which will cost you an additional 1% per transaction.
Founded in 2004, PaySimple is a leading provider of payment solutions for small businesses. The company’s easy-to-use tools streamline the process of acceptin
g and managing customer payments, eliminating the need for businesses to manage multiple payment channels. PaySimple’s virtual terminal, online invoicing,
automated recurring billing, and customer management tools allow businesses to focus on running their business, not their payments.
Over 50,000 small businesses nationwide use PaySimple to manage their customer payments. The company is headquartered in Denver, Colorado, with offices in New York City and San Francisco.
Zoho Books is a cloud-based accounting software that offers a number of features similar to Quickbooks, including invoicing, expense tracking, and financial reporting. One key difference between the two platforms is pricing: Zoho Books offers a free plan for businesses with up to three users, while Quickbooks charges a monthly fee. Zoho Books also has a lower per-transaction fee for credit card payments than Quickbooks.
Xero is a popular accounting software that offers a number of features for businesses, including credit card processing. Xero integrates with a number of different payment processors, giving you the flexibility to choose the one that best meets your needs. Xero also offers competitive rates, with no hidden fees.