What are the payment methods in Quickbooks?

Payments methods for what?

For your subscription, a debit/credit card with a valid US address

For your customers, anything you want to set up as a payment method.  If a method is not listed, add it. 

Although unable to encode the microprint around a check required by current bank law we used to be able to pay vendors with chickens, goats, and cows, in fact 50 years ago it was legal to write out a check on the side of a cow and "hand" it over and the bank would cash it.

How do you add a customer payment method?

Good evening, @Molleyoz. I'm here to guide you through the process of adding a payment method for a customer in QuickBooks Online.

In just a few clicks, you'll have a preferred payment method set for your customer. Here's how:

1. Go to Sales on the left-hand menu, then Customers.
2. Locate a customer you want to edit and click on their name. 
3. You're now looking at their profile. Under the Customer Details tab, press on Edit.
4. On the Customer Information window, go to the Payment and Billing tab. Select the Preferred payment method drop-down menu and enter the necessary information.
5. Hit Save.

That's all there is to it!

If you have additional questions, the Community will always have your back. Have a fantastic day.

Hi - I've just migrated to QBO and I want to know how do I change the payment method for suppliers, please. I've been told that the only alternative on QBO is by cheque and that there's no way to change it to anything else (like for example credit card or direct debit). Is that correct?

Hi @TSR_Monica,

I'm here to share some ideas as to how you can record payments to your suppliers. 

You can create an Expense transaction. This allows you to select a Payment method, which is ACH Transfer, Cash, Check, or Credit Card.

You can also use the Pay bills transaction, although keep in mind, this doesn't have an option to select a payment method. 

If you need to pay a bill with a credit or a debit card, check out this article for the steps: Record a bill payment by EFT, ATM card, or debit card.

For additional queries, leave a comment below. I'll get back to you as soon as I can. 

How do you pull a report for preferred payment methods in quickbooks?  

Thanks for joining the Community, @bp14.

You'll want to pull up the Transaction List by Customer report and add the Payment Method column. It will groups the transactions by customer name and show all activity or transactions related to each customer.

Here's how: 

1. From the left pane, select Reports.
2. Search and select the Transaction List by Customer.
3. Choose the transaction date range.
4. Click the Filter drop-down arrow.
5. Put a check in the Payment Method checkbox.
6. Hit Run report. 

To know more about customizing report, you can click this link. If you'll want to save the current customization settings you can memorize the report in QuickBooks.

Also, I'm adding this article about run reports in QuickBooks Online. It provides information on how to print, email, export, and other report features that you can use in the future.

If you have other QuickBooks related concerns, you can post them anytime here. I'll be around to help. Stay safe.

Your response doesn't address my question.  I want a report on the PREFERRED payment method. 

it is the field located underneath the preferred delivery method. 

Hello @bp14,

The preferred payment method will be posted as the payment method in the report. You can use the report provided by my colleague @JoesemM to see preferred payment method use in the transactions.

Also, you can pull up the customer contact list report to view the list of preferred payment methods of your customers. Let me guide you how.

1. Go to Reports, then type Customer Contact List in the search field.
2. Click the small Gear icon beside the Export icon.
3. Mark the box next to Payment Method. Then, tap anywhere to refresh the report.

I'll be sharing with you this awesome article about customizing reports in QuickBooks Online as your reference. Feel free to also check our page about reports and accounting for more tips and recommendations.

Please know that you're always welcome to swing by anytime if you have questions or concerns. I'll be around to help. Thanks for posting and have a lovely weekend.

Hello,

How long does it take for a new payment method to take effect that are clients can start using it?

Thanks for joining this thread, MJ-TCI.

To clarify, are you referring to the account where customers deposit the payments? Once it’s active, they can send the funds to the new payment method. However, if you mean the payment mode used by your clients, they have to check with their financial institution for further assistance.

If you’re referring to a different scenario, any details shared can help me provide the best suitable solution. For future reference, I'm adding some links that provide information about adding a payment method for QuickBooks Payments as well as deposit speed and payment schedules:

• Find out when QuickBooks Payments deposits customer payments
• Add or modify the accepted credit card types in QuickBooks 

I’m looking forward to hearing from you soon. Thank you in advance, and have a good day.

Hi,

We are adding American Express as a payment method for our clients to use to pay invoices. We went into Account and Settings > Payments > Payment Methods.

We clicked "Enable American Express" then it asks if we want to continue, we hit yes. Then nothing happens. So we weren't sure if it was going through.. or it it took a day or two to have the American express enabled.

Thanks for joining the thread, @MJ-TCI.

I'll share the steps on how to activate your newly added payment method. Let's go to your payment settings to see it.

Here's how:

1. Go to the Gear icon at the top.
2. Under All Lists, select Payment Method.
3. Verify if your American Express has a check mark for Credit Card. If not, Edit it and mark the This is a credit card box. If the Credit Card box is unchecked, the payment method is not going to be processed with Merchant Services.
4. Click Save.

After checking the credit card box, create a test invoice to see if you have the option now. For more information the setup, check out this guide: Add or modify the accepted credit card types in QuickBooks.

If you need help with your other payment tasks, check out this link to go to our general payment topic with articles.

Keep me posted if you still have questions or concerns. I'm always here to assist you. Have a good one.

I already tried going to Customers and clicking on Add Credit Card Processing and nothing happens.

Hi @Marian0122,

Thank you for posting here in the Community. I can help you fix the option from the Customer Center section of your QuickBooks Desktop.

An issue like this usually happens when the browser's stored cache is full. It can cause unusual behavior to your navigation in QuickBooks, such as unresponsive features or options.

Aside from improving the software performance, it also fixes common and complicated errors. Here's how:

1. Click the Help tab in the upper-right corner, then select Update QuickBooks Desktop.
2. Go to the Update Now tab.
3. Select the updates you want to include.
4. Put a checkmark on the box beside Reset Update.
5. Hit Get Updates. 
6. Close and re-open QuickBooks.

After following the steps above, please run the Verify Data and Verify Rebuild tools. These features will help self-identify data issues within a company file and self-resolve them using Rebuild Data. 

To run Verify Data:

1. Click the File tab at the top menu bar.
2. Hover your cursor to Utilities.
3. Select Verify Data.

Next, please run the Rebuild Data option through these steps:

1. Click the File tab at the top menu bar.
2. Hover your cursor to Utilities.
3. Select Verify Rebuild.

Once done, restart your QuickBooks and add credit card processing again. The option should now work for you to add the details.

Additionally, you can visit this link to fix issues in the company files using the QuickBooks Tool Hub software: Fix common problems and errors with the QuickBooks Desktop Tool Hub.

Drop me a comment below if you have any other questions about the program features or paying bills. I'll be happy to help you some more.