Find out when QuickBooks Payments deposits your money
QuickBooks collects the transactions you process throughout the day. At 3 PM PT, the day’s collection of transactions, or batch, goes into a deposit that you’ll find in your account next business day. Payments processed after 3 PM PT go in the next day's deposit.
Generally, deposits from credit card payments will be in your account next business day. If you signed up for the accelerated deposit plan for bank transfer (ACH) deposits, your bank transfer deposits will too. Some banks may take longer to verify and process deposits.
If you're on a next business-day deposit schedule:
Payments processed up to 3 pm PT...
...will be in your account
If you aren't on a next business-day deposit schedule:
Here's what's happening behind the scenes after a credit card charge is processed:
Authorization - The amount is authorized against the cardholder's account to confirm they have the credit.
As an added level of security, you may need to call for authorization when the amount is unusually large. Your call goes into the credit card voice authorization center, a central processing hub. But, it's the cardholder's issuing bank that authorizes or declines a transaction.
Settlement - We submit the charge amount for payment later that day, when the charge is batched (submitted to the bank for settlement). Then, funds can start to move between accounts. Note: During settlement, your bank may notify you that we sent funds to your account. This does not mean that your bank cleared the funds. Merchant Service Center shows the deposit status as "Pending". When your deposit is cleared, the status changes to "Funded".
Funding - The money arrives in your bank account. You usually receive payment within 2 business days.
If you void a transaction prior to batching, the authorization for that amount remains, placing a hold on the customer’s credit card for around 7-10 days (or up to 30 days, depending on the policies of the cardholder’s issuing bank).