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Join nowI am not an accountant, just a small business owner trying to learn QB. What is Merchant Service Deposit?
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It's nice to have you in the Community, @JenniferRN. I'd be glad to help share some information about merchant service deposits.
A merchant services company called QuickBooks Payments was created to work with Intuit's QuickBooks accounting program. It is not a direct processor, like many other merchant service providers, but QuickBooks Payments uses it as its back-end processor. You can visit this page: QuickBooks Desktop Payments makes it easy.
The term "merchant account" refers to the category of the bank that enables your company to accept all credit or debit card payments. When a customer uses their credit card to pay for all goods or services, the money is first placed into the merchant account. It eventually transferred into the bank account to finish the transaction.
Also, you can check out this article on how you can process payments online with the Merchant Service Center.
I'll also add the QuickBooks Payments FAQ as additional information.
If you have any other follow-up questions about payments, let me know by adding a comment below. I'm more than happy to help. Have a good one!
It's nice to have you in the Community, @JenniferRN. I'd be glad to help share some information about merchant service deposits.
A merchant services company called QuickBooks Payments was created to work with Intuit's QuickBooks accounting program. It is not a direct processor, like many other merchant service providers, but QuickBooks Payments uses it as its back-end processor. You can visit this page: QuickBooks Desktop Payments makes it easy.
The term "merchant account" refers to the category of the bank that enables your company to accept all credit or debit card payments. When a customer uses their credit card to pay for all goods or services, the money is first placed into the merchant account. It eventually transferred into the bank account to finish the transaction.
Also, you can check out this article on how you can process payments online with the Merchant Service Center.
I'll also add the QuickBooks Payments FAQ as additional information.
If you have any other follow-up questions about payments, let me know by adding a comment below. I'm more than happy to help. Have a good one!
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