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I have an e-commerce site (woocommerce) with 2 revenue streams. 1 is a membership stream. I have set up merchant services to process those purchases and then (with an app) download the information into QBO.
I have a second revenue stream which is a donation page. Those charges need to be processed and then deposited into a different account.
I am confused as to whether or not merchant services can process both of these and then deposit the funds into the correct accounts. It seems to me that it should be able to, as my old processor could, but the information here is confusing. Can someone clarify?
As I know QB Payment doesn't support WooCommerce. You need to use a 3rd party payment processor to integrate with it and use another connector app to reconcile WooCommerce transactions into QB Online.
I'm here to share details about the process of depositing two different revenue funds using Merchant Services in QuickBooks Online(QBO), @PuncPrezzie.
Merchant Services can process both revenue streams into QBO. However, it's not possible to deposit the funds into separate accounts. When you set up QuickBooks Payments, you can only select one account that you can use for all incoming payments.
If you want the ability to deposit funds separately, you can utilize another third-party application available in the marketplace to find the app or log in to your QBO account.
Here's how:
For future reference, check these articles to guide you in finding the transactions and find out when the payment gets deposited:
I'm always around if you have other questions about payment concerns. Take care.
Thank you so much!
Follow up question: I was anticipating using QB Connector to facilitate the download of information from Merchant Services into my QBO anyway... am I correct that I could run both payments through the payment processing portal and then the Connector would tell QBO which payment goes to which account and then also automate the deposit of those funds? Or is there another app-type that you can steer me towards? Or should I just go get a Give-*utter account?
Managing multiple revenue streams and payment processing can be challenging, PuncPrezzie, especially when transitioning between systems.
Downloading transactions from merchant accounts to QuickBooks Online (QBO) is unavailable. However, you can connect the bank account where payments are deposited to QBO for automatic transaction downloads. This setup will streamline the process and help keep everything in order.
Once your bank account is connected, you can enable the Automatically Match feature in QBO. This will help categorize transactions automatically by matching them with existing records and rules in the program, saving you time and reducing manual data entry.
Here's how:
For more details, see this link: Automatically match transactions.
Additionally, you can utilize these articles to manage your bank transactions:
We value your effort in posting here in the Community. Let me know if you need more help downloading transactions from your merchant account. I'm always here to assist you.
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