QuickBooks Online Payments overview

When you sign up for QuickBooks Online Payments, there are a few things you need to keep in mind:

• Sign up and verification process
• Bank accounts
• Merchants
• Payments

Sign up

When signing up for QuickBooks Online Payments:

• From sign up, it may take up to 2 business days after signing up for a notification regarding whether the payments account was approved or declined.
• Most payments sign-ups will require more information to be sent to Intuit for verification.
• A credit/fraud check is actioned, as well as verification of the business upon sign up.
• Once signed up, you will be able to accept credit card payments. Bank payments will require subsequent sign-up.

For information on how to sign up for Payments see this article.

For information on connecting your Payments account to QuickBooks Online, see this article.

Bank accounts

Here are things to keep in mind about bank accounts:

• QuickBooks Payments works with Canadian bank accounts only.
• All contacts regarding a Payments account must be conducted by the principal officer of the Payments account or by an authorized contact. Principal officers can request to have authorized contacts added by phoning support and asking for the instructions.
• The principal officer is the person whose name is on the payments application that was submitted and whom the credit check is performed against for eligibility.

Merchants

Here are things to keep in mind about merchants:

• For pricing plans for Canadian merchants, see the QuickBooks Payments page.
• A merchant will have an option to store a customer’s credit card while processing a sales receipt only. If they wish to store a credit card number for a customer, it must be added to the customer’s profile.
• Bank payment customers' bank information will not be available to a merchant.

Payments

To avoid being charged a processing fee for a credit card refund, the refund must occur before 3:00 PM (PT) on the same batch date.

To refund a credit card payment before the cut off time:

1. Open the invoice that the payment was received on.
2. Select More at the bottom.
3. Select Refund at the bottom.

Any refunds occurring after 3:00 PM PT (6:00 PM ET) on the batch date must be done through a refund receipt and will be charged a separate processing fee.

In order to process a bank payment refund, it must be processed as a separate transaction.