QuickBooks users should be able to send and receive online payments if they seek to record an ACH payment in QuickBooks Desktop. ACH is the abbreviation for Automated Clearing house, and is a form of online payment that is gaining eminence in U.S considering the wide range of benefits it offers over the conventional usage of credit cards. It is a better option, both in terms of ease of usability and reasonable transaction fees, especially when it comes to repeated transactions. The dual avenues to process and record QuickBooks ACH payments shall be unraveled in this brief, yet, illustrative article. So, stick around till the end.
What is the need for using ACH payments?
By using ACH payments, you can leverage the following benefits:
- Transfer easily electronic funds
- Enhanced retention
- Affordable fees for processing
What are the different forms of payments that can be used for ACH payments?
The following types of transactions are suitable for ACH payments.
- Transactions involving Business to Customer (B2C)
- Transactions involving person-to-person (P2P)
- Bill payments
- Transactions involving Business to Business (B2B)
- Interest payments.
- Payroll, etc.
What is the cost of ACH payments?
For ACH, payments are made per transaction. This fee can be between 0.20 and 1.50 dollars per transaction. On the other hand, the fee, when computed in proportion to the total, is 0.2 to 1.5 dollars.
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What is the Procedure to Record ACH Payments in QuickBooks?
You can go through these methods in order to record an ACH Payment in QuickBooks desktop:
- Initially, pick the option to Check the ACH payment option.
- After that, enter your bank information when prompted.
- Get the entered details validated. It may take a while.
- Complete the entire form and fill in the correct information.
- You are good to go. Start with the processing of the transfer to receive the payment.
- The first step requires heading to the Sales tab. The same can be found in the left navigation bar.
- Herein, pick the Invoices option.
- At this point, choose the option to receive payment.
- A new page/window related to the Receive Payment will show up on the screen.
- Herein, opt for the addition of any outstanding transactions.
- Subsequently, click on Save and close.
ACH payments make a convenient and quick method of processing your transactions via QuickBooks. As compared to the conventional methods of processing transactions, this avenue is much simpler and also has lesser fee-per-transaction. This brief blog subsumed the dual procedures to process and record QuickBooks ACH payments in QuickBooks. ‘
If you have ancillary issues related to the QuickBooks program, you can scroll past our FAQs and Articles on QuickBooks troubleshooting to get all your doubts and queries cleared out. Also our QuickBooks enterprise support team will be there to help you out through the dedicated helpline i.e., 1-800-761-1787.