Setting Up Recurring Credit Card Payments in QBO

Today one of my service based client like Advertising, Marketing and Web Developers was having a hard time getting their clients to pay them on a monthly basis. Cash flows were getting affected. Some would not pay for months even though they have been sent reminders for payment. As one who also manages Accounts Payable or bills I know that when I see the amount I need to pay for the month and seeing how much money my clients really have in the bank I tend to pick and choose which ones I can or should pay immediately and which ones can wait. Some of these business do not understand the importance of the service you are offering. Most of these clients you have as a service based business don’t understand that you also have cost you need to pay in order for their websites to be useable and functioning and searchable. Wouldn’t you love to have your clients or customers set up as automatic payments. Where they don’t need to think about it every month whether they should pay you or make you wait? Just like when you subscribe for Hulu or Netflix. It is deducted from your bank automatically every month. What a joy it would be if you do not have to worry about chasing your clients for the unpaid invoice!

How to set up recurring Credit Card payments in Quickbooks Online (Before you take these steps please read the listed reminders at the bottom of the page.)

• Sign in to your Quickbooks Online

• Click on the Gear icon and choose Accounts and Settings

  1. Then go to Payments

  2. click on the Manage account

  3. Go to Processing Tools and click Create a Recurring Payments

• This will then open up into a from where in you put in your client or customers informations.

• Review and save recurring payment set up.

A Few Reminders:

• Before you set up the Merchant Recurring Credit Card payment. It is advisable to create a recurring invoice for your customer/client in Quickbooks to match the payments.

• Recurring payments are only available for credit card transactions. Recurring check transactions are not available at this time.

• Since recurring transactions are not swiped, they will process as the Non-Qual or Mid-Qual rate (e.g. corporate & rewards cards would process at the Non-Qual rate).

  A notification is sent to your primary contact email, every time recurring transactions are processed.