Using Credit Cards in QuickBooks

Using Credit Cards in QuickBooks

Overview:

Follow the instructions below to record credit card payment correctly in QuickBooks. Or contact us to sign up for an Intuit Merchant Services account that works seamlessly with QuickBooks. Click here for a video demonstration using QuickBooks Merchant Services available through CleanBooks.

Receive Payments using Credit Cards
  1. From the QuickBooks Home page, click Receive Payments or Create Sales Receipt (also available from the Customers menu).
  2. Select the credit card type from the Payment Method field. Enter all other payment information and click Save & Close.
  3. Your credit card payment has now been recorded.
Recording Credit Card Deposits
Recording credit card deposit is just like recording cash or check deposits.
  1. Click Record Deposits and select all the credit card sales for one day.
  2. Click OK.
  3. Verify that the deposit total is the actual amount that will be deposited into your bank account. If your merchant takes their fees out of each deposit, then you must reduce the deposit by posting the fee to the appropriate expense account (see diagram below). 
  4. Click Save & Close.

    • Related Articles

    • New QuickBooks File Setup

      We recommend that you create a new company file from scratch rather than using a template or starter file. Template files usually have been created from an old version and copies certain settings and log files into your new company. Creating a file ...

    • Using DropBox with QuickBooks

      Question Is DropBox.com a good solution for syncing QuickBooks among several computers? Answer No. Click here for article by Michelle Long. 

    • Sales Tax In QuickBooks

      Following these instructions is important for filing sales tax correctly in QuickBooks. Incorrectly filed sales tax may result in overpaid or underpaid tax liabilities, as well as a number of errors on QuickBooks reports. Sales Tax Liability Report ...

    • Direct Deposit in QuickBooks

      Follow these steps to activate direct deposit in QuickBooks: From the Employees menu, select My Payroll Service > Activate Direct Deposit. Follow the prompts to setup your bank account (will require verification). Then edit the employee, select the ...

    • Customer Prepayments in QuickBooks

      Use this process to receive prepayments from customers for future delivery. Using this method will keep the prepayment from showing up as a credit in Accounts Receivable. Receive a prepayment using a Sales Receipt with Prepayment item (Prepayment ...