QuickBooks Payments: Outstanding Solution for Payment Processing in Businesses

Time is money, and as a small business owner, you're losing both with outdated payment processing. Every minute spent chasing payments, reconciling accounts, and managing cash flow is a minute stolen from growing your business. The harsh reality? Your current system isn't just inefficient—it's actively holding you back.

But there's a solution that turns this necessary evil into a powerful growth engine: QuickBooks Payments. This isn't just another payment processor; it's a complete reinvention of how small businesses handle transactions, designed to eliminate the frustrations that have plagued you for years.

In this guide, we'll reveal how QuickBooks Payments is helping improve business financial management and why it's the smartest choice for businesses looking to scale. Whether you're fed up with your current processor or starting a new venture, prepare to discover a system that doesn't just meet your needs—it propels your business forward.

Solving the challenges: How QuickBooks Payments addresses common frustrations

1. Seamless Integration: The End of Manual Data Entry

The Problem: Traditional payment processors trap you in a cycle of manual data entry, wasting hours on tasks that should be automated.

The Solution: QuickBooks Payments integrates flawlessly with QuickBooks Online accounting software. Every transaction automatically syncs in real-time, eliminating manual input and cutting the risk of errors. This isn't just about saving time—it's about freeing you to focus on strategic growth rather than mundane bookkeeping.

2. Lightning-Fast Access to Funds: Boost Your Cash Flow

The Problem: Slow fund transfers from payment processors can create cash flow bottlenecks, hindering your ability to manage expenses and invest in growth.

The Solution: QuickBooks Payments offers next-day deposits as standard, with the option for instant deposits on eligible transactions. This rapid access to funds empowers you to manage your cash flow more effectively, pay suppliers promptly, and seize growth opportunities without delay.

3. Versatile Payment Options: Never Miss a Sale

The Problem: Limited payment options can lead to lost sales and frustrated customers.

The Solution: QuickBooks Payments accepts a wide range of payment methods, including:

• Credit and debit cards

• ACH bank transfers

• Apple Pay

• PayPal

• Venmo

This versatility ensures you can cater to customer preferences, reducing cart abandonment and boosting sales conversion rates.

4. Robust Security: Protect Your Revenue

The Problem: Chargebacks and payment disputes can affect profits and create financial uncertainty.

The Solution: QuickBooks Payments offers unparalleled peace of mind with its Payment Dispute Protection. This feature covers up to $10,000 per dispute and $25,000 annually, safeguarding your revenue and allowing you to conduct business confidently.

Beyond the basics: Why QuickBooks Payments stands out

Transparent Pricing: No Hidden Fees

QuickBooks Payments offers competitive, straightforward pricing without the hidden fees that plague many other processors. This transparency lets you accurately forecast your payment processing costs and budget more effectively. The chart below compares QuickBooks Payments rates with Square and Stripe.

Comprehensive Reporting: Data-Driven Insights

Leverage the power of integrated reporting tools to gain valuable insights into your business's financial health. Track sales trends, monitor cash flow, and make informed decisions to drive growth.

Scalability: Grow Without Growing Pains

As your business expands, QuickBooks Payments scales effortlessly with you. Whether you're processing ten transactions a month or ten thousand, the system adapts to your needs without requiring a costly overhaul of your payment infrastructure.

Expert Support: Backed by Peak Advisers

When you choose QuickBooks Payments through Peak Advisers, you're not just getting a payments processor – you're gaining a partner invested in your success. Our team of QuickBooks experts is always ready to provide personalized support, ensuring you make the most of your payment processing system.

Making the switch: Easier than you think

Transitioning to QuickBooks Payments is a smooth, hassle-free process. Our team at Peak Advisers will guide you through every step, from initial setup to optimizing your payment workflows. We'll ensure you're up and running quickly, with minimal disruption to your business operations.

The bottom line: Make your payments processing better today

In a world where every second counts, QuickBooks Payments offers the speed, efficiency, and reliability that small businesses need to thrive. By addressing the core pain points of traditional payment processing – manual data entry, slow fund access, limited payment options, and security concerns – QuickBooks Payments empowers you to focus on what truly matters: growing your business.

Ready to revolutionize your payment processing? Contact Peak Advisers today to learn how QuickBooks Payments can streamline your operations, boost your cash flow, and set your business on the path to more tremendous success.

Harness the power of QuickBooks Payments for your business

A Peak Advisers Webinar Analysis

We want to take a moment to extend a heartfelt 'Thank You' to everyone who joined us for an insightful webinar on the benefits of using QuickBooks Payments. Whether you're a small business owner or part of a mid-sized company, we are thrilled to share insights that could revolutionize your operations.

Watch our webinar recording here ⏬.

Michael Wallace from Peak Advisers joined by two insightful special guests brought valuable perspectives about the significant benefits of this software:

1. Unleash automation to transform your business: One of the key insights of the webinar was the importance of automation in the current business landscape. Letting QuickBooks Payments carry out recurring tasks results in substantial time and cost savings.

2. First-hand experience: A current QuickBooks Payments user shared her positive experience with the software. As she indicated, QuickBooks Payments continues to save her and her company significant amounts of time and money, a benefit that every business can appreciate.

3. Enhanced security practices: QuickBooks Payments helps ensure PCI compliance, leading to strengthened security practices. This not only protects your business but also enhances your reputation in the eyes of your customers.

4. No more overcharges for merchant services fees: Another one-of-a-kind perspective came from a representative of Merchant Advocate, who detailed the ease in auditing merchant services fees. If you've been concerned about overcharges in your merchant services fees, Merchant Advocate can solve that problem for you.

At Peak Advisers, we're proud to be your QuickBooks Solution Provider, and we're always here to help you explore the ways these services can benefit your business. Stay tuned for more informative webinars and updates from us!

To experience the QuickBooks Payments revolution, contact us today.

See how automation and QuickBooks make your business run better

Peak Advisers is honored to work with great companies like Webster Associates of Denver, Colorado on projects related to automating financial management systems and improving workflow and growth with applications that make sense.

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Linsey Ashby oversees order and payments processing as well as customer service at Webster Associates, an industrial distributor of filtration products and filters. Their main customers are big industrial operations like power plants, pharmaceutical companies, manufacturing plants, and food and beverage companies.

Linsey spent some time talking with Peak Advisers about her company and how we have been able to help improve Webster’s financial management and operations with automation and QuickBooks products.

Peak Advisers: “What makes your business operation unique?”

Linsey Ashby: “Most people don’t understand what we do. We get into very specific, technical filter applications, and it’s pretty cool.”

Automation and QuickBooks make running your business easier

Peak Advisers: “How is automation helping you regarding the overall accounting and financial management activities for your company?”

Linsey Ashby: “We’re now able to download our banking activity directly into QuickBooks and see real time transactions, which we’ve never had before. So, we really enjoy that feature. It keeps us in tune with our expenses and deposits. We also like that we're able to email invoices directly to customers with a payment link that is in line with a secure portal with credit card or ACH.”

Peak Advisers: “We’re talking about the addition of Intuit Merchant Services. What were the goals of this project?”

Linsey Ashby: “We were looking for an easier way to process payments — credit card and ACH — and offer our clients a more secure way to pay and allow Webster more ease of accountability. This new process has really made it easier for us to track all of these things as well.”

Major time and money savings from automation and QuickBooks

Peak Advisers: “What are the benefits for you of the change to Intuit Merchant Services?”

Linsey Ashby: “It has saved us a lot of time processing credit cards and ACH payments. Our previous accounting software wouldn't allow us to process any payments so we would have to use a different program and enter everything manually into our accounting software. So instead of minutes per transaction, it's seconds. Which is a huge time savings.”

Peak Advisers: “This has had a big impact on your company.”

Linsey Ashby: “It was a full-time employee’s job. Now the accounting team has time for more tasks, which saves me time.”

Peak Advisers: “What do you want to accomplish next?”

Linsey Ashby: “Actually, there was a recent update which auto-matched our payments into our deposits. I hope there are more updates like that coming in the future just to make everything easier and automatic.”

Peak Advisers QuickBooks knowledge and automation services make it happen

Peak Advisers: “Would you recommend working with Peak Advisers?”

Linsey Ashby: “I found Peak Advisers in December 2018 before we got QuickBooks into place and I worked directly with Michael Wallace and he transferred over all of our data. We went live within a few weeks and it was very fast and easy. It’s always easy to get a hold of Peak Advisers and we always get great service and all of our needs have been met.”

“Anytime I need something with QuickBooks I just call Mike on his phone. He always answers and has an answer for me. So, it’s made my life a lot easier. QuickBooks has been easy to learn, it’s very user friendly and we enjoy that. The program is outstanding,” Linsey concluded.

Peak Advisers deep experience with QuickBooks and automation services will keep your business moving and growing as innovation in accounting and financial management takes place. Automation is critical to the success of any business these days and we can make it happen for you.

Peak Advisers works with Intuit to get your business paid faster and reduce costs

During a recent one-on-one meeting between Marvin of the Intuit Merchant Services team and Peak Advisers leadership, we discussed issues raised by our customers. We’re looking at ways to get them paid faster and reduce their costs.

One of the great things about being a QuickBooks Solution Provider is that Peak Advisers is always in contact with Intuit and the people at the top who know the most about making QuickBooks products work in the best and most cost effective ways for your business.

Here is the information that came out of our recent meeting with Marvin at Intuit Merchant Services.

• New payments customers using QuickBooks desktop products will see next day funding for their transactions after 30 days of using the system.

• Peak Advisers can contact the Intuit payments team and help make that process happen even faster in many cases.

• Intuit’s rates for merchant services are already highly competitive whether you’re a new customer or an existing one. If you are doing a higher volume of credit card transactions, it’s possible for Peak Advisers to work with Intuit’s payments teams to lower your rates even more.

• There are no credit limits for the number or amount of transactions you can process with Intuit Merchant Services.

If you’re interested in reducing rates or have any questions about the benefits of Intuit Merchant Services, give us a call now at (303) 801-4772.

QuickBooks tip: How to clear QuickBooks customer "recon" payments

From time to time downloads from Intuit Merchant Services are duplicated. When this happens one of the transactions is typically posted to a QuickBooks-created customer called: “QuickBooks Customer.” The other side of the posting is Undeposited Funds if Undeposited Funds is used, or a bank account if the Undeposited Funds account is not used.

The QuickBooks Customer transaction cannot be deleted. But you can eliminate the transaction. Take the following steps.

1. Create a new bank type account called QuickBooks Customer Clearing.

2. Create a new Service Type Item called QuickBooks Customer Clearing. Set the account used to the new bank account QuickBooks Customer Clearing.

3. Create an Invoice equal to the amount of the duplicate QuickBooks customer.

4. Either auto apply or manually apply the credit existing to this invoice.

5. Go to Banking and Open Deposits.

6. Find the QuickBooks Customer amount in the list of undeposited transactions and make a deposit to the QuickBooks Customer Clearing bank account.

7. After completing these steps, the balance in the QuickBooks Customer Clearing bank account should be $0.

8. The balance in Accounts Receivable for QuickBooks Customer should be $0 as well.

9. Repeat these steps as many times as necessary.

10. You could combine all the amounts onto one invoice and the deposits onto one deposit.

11. In some circumstances additional steps may need to be taken. Reasons for additional steps include a refund was made to a customer, a credit memo was created, and/or a journal entry was used to try and correct the duplicate transaction.

Peak Advisers offers services to help you manage your QuickBooks efficiently and easily.

12 tips will improve your cash flow now

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Managing cash flow is the lifeblood of every small business. Your work may reward you in ways that aren’t about money at all, but if the cash flowing in doesn’t exceed the cash flowing out, you’ll probably be in trouble before long writes Kathy Simpson in The Hartford SmallBiz Ahead blog.

This is a thoughtful list, but Peak Advisers adds some additional suggestions.

These 12 ways to improve cash flow can help you encourage incoming payments, delay outlays of cash and stay on top of everything in between–like payments, late fees and billing cycles.

1. Invoice immediately. Don’t wait until  next week or next month. If you wait to invoice your clients, your creditors may think they can wait, too.

From Peak Advisers:  If selling products to consumers, invoice ( and collect) when the product is sold. If selling products to other business be sure to invoice per your terms and follow up on your invoice. If delivering services or working on projects, establish interim payment dates or collect a retainer or deposit upfront.

2. Use electronic billing. It’s fast, and customers are likely to respond more quickly when they can pay instantly. Your deposits can be deposited directly to your account and everyone saves on the cost of paper and stamps. Freshbooks and WePay are two online billing programs designed for small business owners.

From Peak Advisers: Do not mail invoices. Email only and just as important enable payment from the invoice. Peak Advisers always recommends that QuickBooks users obtain an Intuit Merchant Services account so that ACH, credit card and e-check payments are enabled within QuickBooks. Doing so not only enables payment convenience for the customer, it applies payment to the customer’s account in QuickBooks. Download an application here and email it back to us.

If using QuickBooks, both the Online and Desktop versions allow you to track the delivery and status of emailed invoices from within QuickBooks. The status will show the dates the invoice was sent, viewed by the customer, date paid and date received.Use this tool to make sure invoices are being received by the customer and that they have viewed them. If appropriate, follow up with the customer to confirm receipt and planned pay date.

3. Get it in writing. Set clear payment terms and expectations in your initial customer agreements. Spell out your terms on every invoice.

From Peak Advisers: Include in your terms that you prefer electronic payments and that any physical check received will be processed as an e-check. 

4. Include a specific due date. “Due upon receipt” can be ambiguous, while “payment due within 30 days of the bill date” clearly communicates your expectations.

5. Institute late fees. Without them, your customers may put off payment until a time that’s convenient for them but not for you.

From Peak Advisers: We are not a fan of charging late fees. In our opinion far too much time is spent managing late fees in relation to the return. Nonetheless, make late fees part of your written terms and conditions. Doing so allows you too collect them in collection actions.

6. Offer positive incentives for early payment. Give customers a good reason to pay sooner than they normally would. An example might be a 1-2% discount for payments received within two weeks of the bill date.

7. Sell your invoices. If your need for payment is especially urgent, you can sell your invoices for work already done to a factoring company. In exchange for a small fee, they’ll pay 90-99% of your original invoice amount upfront. This may be a good option if you typically have to wait 30, 60 or 90 days for payment of your invoices.

From Peak Advisers: We recommend every small business sign up for FundBox. It is better to have the ability to sell invoices and not need it than need it and not have it.

8. Slow down on bills. Hold off on paying bills until they’re due. If you’re presented with a worthwhile incentive for early payment, by all means, take advantage of it. Otherwise, set your target for a day or two before the due date (just to make sure your payment arrives on time and you don’t incur late fees). If you pay electronically, you can schedule in advance and with precision.

From Peak Advisers: Pay all bills electronically. Use a credit card, your bank’s ACH payment system or Bill.com. Eliminate the possibility of check fraud by paying electronically.

9. Periodic payments. Take advantage of periodic payment programs that are fee-free. For instance, small businesses with workers’ compensation coverage can pay their premiums every time their payroll is run. Payments are based on actual payroll, eliminating the need for a large down payment, and carry no installment charges.

From Peak Advisers: We highly recommend using the workers’ compensation coverage available through QuickBooks payroll. It is price competitive and is based on actual payrolls, not annual estimates.

10. Monitor your cash flow status on a  weekly basis. Check off what’s been paid, what’s coming due and what’s late. Send reminder notices as necessary, and don’t forget to tack on your late fee.

11. Get a CPA if you don’t already have one. A CPA can help guide you toward your financial goals and offer corrective action should you begin to veer off course. Taxes, of course, are part of the equation and ever-changing, making the aid of a professional essential. A CPA can help ensure you’re taking best advantage of the deductions that can benefit your business and help improve your cash flow.

12. A line of credit. If you occasionally meet up with cash flow problems, a line of credit with a bank or credit union can be helpful to tap into as needed.

From Peak Advisers: For small business, We recommend skipping the bank application process and go online with FundBox or similar services. They offer quick response time and it is better to have it and not need it than need it and not have it. 

Next Steps: Not sure if you’re using the most budget-friendly CRM system? Don’t know if you’re using the right tools for managing your day, paying your employees, and billing your customers?  We’ve got you covered with the weekly Small Biz Ahead Newsletter. Sign up today and start receiving the weekly newsletter chock full of the latest tools and resources to help you run a successful business.

Any questions?  Call Peak Advisers 303.801.4772 or contact us here.

The Holidays: Black Friday, Cyber Monday, Christmas are almost here again

Guess what? 2018 is almost over already! So here's the BIG question: If you run or own a retail operation, ARE YOU READY?

We know you're busy, so consider this a gentle reminder that time is short.

Go to Peak Advisers to check out Intuit's robust array of POS hardware and retail supplies to ensure your business and cash register operations are running efficiently.

With Intuit's QuickBooks Desktop POS you can ring sales, accept payment, track inventory and more.

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Holiday sales ringing up with Intuit QuickBooks POS hardware and software

The set up is quick and easy and Peak Advisers can help.

You can make the transition to QuickBooks POS (point-of-sale) in no time and be ready for the holidays before your competition knows what hit them.

NO PURCHASE REQUIRED

If you use Quickbooks or Intuit POS, but don’t yet have an Intuit Merchant Services Account, go to PeakAdvisers.com and download an Intuit Merchant Service Application. It's FREE to signup.

ou'll be amazed at how much time you save from integration--and money too!

Complete the form and return it to info@peakadvisers.com.

Or call us. We'll get you set up. Give us a call today at 303-801-4772.

Deposit checks with a QuickBooks Merchant Services account

The ultimate reason to have a QuickBooks Merchant Services account is that it makes it possible for you to easily, quickly deposit checks from your customers.

Help wildland firefighters

We will make a donation in your name to help firefighters keep Colorado beautiful and safe. All you have to do is download and submit a Merchant Services application and we will make a donation in your name to the Wildland Firefighter Foundation through July 31. 

Even if you don't want to accept credit cards or ACH payments, a QuickBooks Merchant account is still worth using because of how you can use it to deposit checks.

See more reasons why a QuickBooks Merchant Services account is a must have here. 

Learn even more about Merchant Services here, and then contact us to get things set up. 

QuickBooks Merchant Services work with ecommerce platforms

Business operators always ask us if QuickBooks Merchant Services work with eStores. The answer is yes, dependent on which eStore you use. This great way to automate and speed up getting paid is compatible with many eStore platforms including the following:

• PDG
• IA Modules
• Web.com
• GoDaddy
• UltraCart
• ProStores

• Value Web
• Shopify
• 3D Cart
• Foxycart
• Big Commerce
• Core Commerce

• OS Commerce
• Design Cart
• Zoovy
• Pinnacle Cart
• Product Cart
• CS Cart
• Virtue Mart

Help wildland firefighters

We will make a donation in your name to help firefighters keep Colorado beautiful and safe. All you have to do is download and submit a Merchant Services application and we will make a donation in your name to the Wildland Firefighter Foundation through July 31. 

If you use QuickBooks, Merchant Services is something you should add for one big reason: Your customers can pay you online right from the invoice you email to them. What an incredible time saver and great way to automate what otherwise could be a time-consuming task: getting paid. 

Why should you use Intuit with your shopping cart? 

One of the factors in pricing is volume.  If you combine the volume you generate from your QuickBooks or Intuit POS with the volume at your E-store, you may achieve significant savings.  Give it a try.  You’ll never know if you don’t give it a try.

When you use QuickBooks Merchant Services your account reconciliation will become much easier since all transactions are happening within QuickBooks.

Your credit card information is encrypted. No more writing down numbers and going online or to a machine to process the credit information. In fact, if your customer pays you through the emailed invoice, you never see the credit card information.

Learn more about Merchant Services here, and then contact us to get things set up. 

Merchant Services: A must have if you run QuickBooks

It's simple why QuickBooks Merchant Services is a 'must have.' You can see the reason in the video below.

Help wildland firefighters

We will make a donation in your name to help firefighters keep Colorado beautiful and safe. All you have to do is download and submit a Merchant Services application and we will make a donation in your name to the Wildland Firefighter Foundation through July 31. 

A merchant services account allows your customers to pay you via credit Card or ACH from the invoice you email them. When this happens, the cash receipt is applied to the invoice by QuickBooks. No more receiving payments one by one. 

This is a huge time saver.

You might be thinking, "Our current credit card workflow works fine now.."

This is often the case, but it will almost certainly work much better using Intuit Merchant Services. Why? Because the invoicing, payment processing, receive payment, bank deposits is happening within one-securely encrypted financial system. 

That means, no more keying in numbers on a machine or going to a website to process a card. There is no more reconciliation of merchant statements to receipts since Intuit is clearing the transaction for you in QuickBooks. 

But what if you don't want to accept credit cards? 

You don’t have to accept credit cards to benefit from an Intuit Merchant account. With an Intuit account you accept credit cards and ACH, or just credit cards, or just ACH payments. ACH payments only cost $1, so if you don’t want to accept credit cards, you still want a Merchant account so that you can accept ACH payments.

Learn more about Merchant Services here, and then contact us to get things set up. 

Video: Making QuickBooks easy to use

Peak Advisers principals Bruce Peterka and Michael Wallace at the Colorado Bar Association talking about using multiple merchant services accounts in QuickBooks.

They presented to members of the Colorado Bar Association.