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
When signing up for QuickBooks Online Payments:
- From sign up, it may take up to two business days for a notification regarding whether the payments account was approved or declined.
- Most payments sign ups will require more information to be send to Intuit for verification.
- A credit/fraud check is actioned, as well as verification of the business upon sign up.
Here are things to keep in mind about bank accounts:
- Payments works with Canadian bank accounts only.
- The principal officer is the owner of the bank account being used, and the credit check will be done on this individual.
- Any contact regarding a Payments account must be conducted by the Principal officer of the bank account for the business.
Here are things to keep in mind about merchants:
- For pricing plans for Canadian merchants please refer to QuickBooks Payments
- 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.
Here are things to keep in mind about payments:
- Changing your legal name in QuickBooks Online will freeze your Payments account.
- You can void a credit card transaction until 3 pm PST on the day you process a payment. After that time, if you need to reverse a credit card payment, you will need to process a refund by following the steps in the Refunding a credit card payment from a customer article.
- You can only accept payments in Canadian funds — no multi-currency support for credit card payments. (If you send an invoice to a USD customer, they will not have a pay now button to click on and make a payment.)
- QuickBooks Online Payments are not currently offered in the French language.
An accountant can only represent their client regarding Payments once they have spoken to the correct department to add them as a verified representative.