How To Set Up Recurring Payments In QuickBooks

Set Up Payments in QuickBooks

Last Updated on December 10, 2020 by Editorial Team

If you sell your company’s products or services on credit and you receive payment in QuickBooks from your customer. This needs to be implemented correctly for QuickBooks. Accepting payments in QuickBooks also helps you to maintain an accurate accounts receivable balance. Some QuickBooks user does not know how to pay in QuickBooks. So, you need to set up payments in QuickBooks for recurring payments. Below are some possible steps by which you can easily pay in QuickBooks.

Points To Remember Before Recurring Payments In QuickBooks

  • Ensure that you have a QuickBooks Payments account linked to your QuickBooks Desktop.
  • QBO uses a different procedure for recurring payments.
  • Recurring payment setup for bank transfer transactions is not available at the time.
  • Since recurring transactions are not swiped, therefore they are processed at a keyed rate.
  • Get a notification on your primary contact email every time so that you can process a transaction.

Updated feature in Recurring Payments

The exciting advanced features of accounting software help users to save time and work faster. Now creating a recurring charge and managing payments has become so easy that even a new accounting person can do it. You will get something new with the new updated recurring payment. Here is how you can set up a recurring charge

  • Goto Customers then choose Credit Card Processing Activities. 
  • Click on the Set Up Recurring Charges.

These are the list of features you can get on this page:

  • Improved search experience: Now you can find customers by just entering any part of their name. For example, if you entering “ca”, it will find “Canaldo Smith” and even “John Calo” and “Moica Jan”.
  • Make recurring charges easily: it is so easy to set up recurring charges for your existing customers or to add a new customer.
  • Utilize advance Invoice category: Make recurring charges and manage payments with Itemized List and Amount Only options.
  • Auto-detect card type: you do not have to select the type of card in the form. Here the tool automatically detects card type according to the number.
  • Send emails Automatically: it sends email notifications automatically to the customers once you set up a recurring payment and the payment is processed. Click on the option to Notify my customer that I set up this recurring payment.

How to Set Up Recurring ACH Payments in QuickBooks Online

Users can easily set up recurring payments to make the payments as easy as that with the QuickBooks Online. Let us show you how to set up recurring ACH payments in QuickBooks Online.

  1. Got to the Gear icon at the top.
  2. Choose Recurring Transactions, and hit on the New button.
  3. Go to the Sales Receipt from Transaction Type, and select OK.
  4. Fill out the template name, and select Scheduled as the recurring type.
  5. Select a customer.
  6. From the Interval section, select Monthly on day 1st of every 1 month(s).
  7. Fill out the Start Date and the End.
  8. Choose the correct payment method.
  9. Fill out the required details, and hit on the Save template button.

Steps to Set Up Payments in QuickBooks

  • Go to your company’s settings
    • Click on the gear icon then Account and Settings
  • Click payment
  • No matter how much payment you expect to receive per month, we have you covered
  • Choose payment for the plan that works best for you.
    • Click Set up payment to get started
  • Tell us about your business now
    • Enter information about your business including bank account where you want your customers to submit payment
  • Then tell us about you
    • Tell us more about yourself so that we can verify you using QuickBooks Payments.
  • Select a bank account.
    • Tell us which bank account in QuickBooks that you want to use to record the deposit. This is the bank account you entered a routing number for earlier.
  • Now you can ask for payment on the invoice and even include the Pay Now button.
    • Click the plus sign icon Invoice.
  • When you are creating your invoice, be sure to select the types of payment you will accept.
  • Then click save and send your customer an invoice.
  • You can also get payments.
    • Click on the plus icon then go paid.
  • Fill your credit card details.
    • Enter your customer credit card number
  • You can also choose to swipe your customer card.
  • Create a sales receipt if the customer pays you at the time of sale.
    • Go to the Plus sign menu and choose Sales Receipt under Customers.
  • Next select Credit Card as the payment method.

Set up QuickBooks to automatically charge your customers a set amount at regular intervals

  • First, open a sales receipt.
  • Then choose a customer or enter a new one.
  • Next, select the product or service you provide for the customer.
  • Choose a credit card payment option.
  • Now the important part is: click on Recurring.
  • Enter a name for the template that you will recognize.
  • Choose Scheduled as Type.
  • Enter the interval will use to charge your customer.
  • Enter the start date for the automatic charge.
  • Now enter how often you want to pay your customer.
  • Click Save Template.
  • To make it legal then you will need to sign an authorization form allowing your customer to automatically charge your credit card payments in QuickBooks.

Frequently Asked Questions

1.What happens to my old recurring charges

Ans: All your existing recurring charges in ACCB will be seamlessly migrated to Recurring Payments while preserving all of your valuable data. There is no need to create your existing recurring charges again. This update is completely safe and secure.

2.How to access recurring payments outside QuickBooks

Ans: You can now access and manage your recurring payments outside with QuickBooks Merchant Service Center.

  • Firstly, sign in to your Merchant Service Center account.
  • Then select Processing Tools
  • And click on Create a Recurring Charge.
  • Now choose Create a Recurring Payment to set up a new charge
  • Or click on Manage Recurring Payments to edit, schedule and manage your recurring charges.

3.How do I manually record payments within QB

Ans:  To manually record a payment, follow these steps such as:

  • First, navigate to Merchant Service Deposits.
  • On the Record Merchant Service Deposit screen, select the recurring charges you want to record.
  • Then click on Add Selected Payments.
  • On the Receive Payments screen, click Save and then Close.
  • Once a payment is added, you can also create an invoice too.
  • Now select Need Invoice.
  • Go to the Record tab and choose the transactions you want to record.

Final Words

In this blog, set up recurring payments in QuickBooks. Here are some steps telling you how-to steps to Set Up Payments in QuickBooks. To know more about QuickBooks Services then you can hire a QuickBooks ProAdvisor for further information

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