I have been trtying to understand how much my business will be charged for using the invoice payment system that links to payment apps (like Paypal)
A lot of my customers would like to pay either from the link on the invoice or over the phone.
My issue is, I supply a relatively high value product and I couldnt give away 2 or even 3% of my sale to a payment facility company.
So I wondered, is there a cap?
The kind of figures I am talking about are £8K to £15K per transaction.
I do also issue smaller invoices in the range of £120 - £3000 for repair services.
Clearly I don't want to lose £300 on a large invoice.
Many thanks for any help and clarity you can provide.
Welcome back to the QuickBooks Community, Andscaper. I'll be providing details about fees in taking payments from QuickBooks and how it works. Then, to ensure you'll be routed to the right support team to assist you with processing charges for using the invoice payment.
You can always send your invoices in QuickBooks Online (QBO) for free. However, fees are generated when signing up with QuickBooks Payments. This means, there will be a payment charge for the ACH bank transfer, Credit card - swiped, Credit card - online invoice, and Credit card - keyed.
Since your business uses the invoice payment system that links to payment apps (like Paypal), I recommend contacting the app provider. They'll be able to share detailed information about payment processing fees and how much the exact charge each time you process an entry.
Additionally, they'll also be able to provide steps on how to give two or 3% of your sale to a payment facility company.
Lastly, you may refer to this article to view details on how to void sales receipts or invoices that are paid by credit card: Void or refund customer payments in QuickBooks Online.
I'm always here to help you if you need further assistance with this matter or have further concerns about the processing fee. Feel free to hit the Reply button, Andscaper. Have a good one!
Sorry, I was hoping another user might be able to reply to my question so that I know which payment provider I should contact. That's why I contacted the community, not Intuit.
I would like to hear from another user about their experience of PayPal and similar.
What kind of business do you run? If you are running a service provider, you can utilize a 3rd app as the payment processor to integrate with QBO. You can accept payments by Visa, MasterCard, American Express, Diners Club (International), Discover (Domestic) and Direct Debit (BACS). You will definitely be charged lower processing fees than PayPal.