Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Questions about how to close your books for 2020? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

The "Receive Payment" screen has a drop down list of Payment Methods. What is the difference between 'credit card' and 'Quickbooks Payments-credit card'?

Additionally, what "happens" if I check or uncheck the option "Process Credit Card". What does that option mean? Note - We use Quickbooks Payments.
Solved
Best answer October 14, 2020

Best Answers
QuickBooks Team

The "Receive Payment" screen has a drop down list of Payment Methods. What is the difference between 'credit card' and 'Quickbooks Payments-credit card'?

Glad to see your post here in the Community, @NancyC1. I'm here to share insights about processing and recording payments in QuickBooks Online. 

 

There's no difference between a credit card and Quickbooks Payments-credit card shown in the Payment Method drop-down. Both are for recording purposes only to make sure that your transactions are categorized to the right account. 

 

When an invoice is sent using QuickBooks Payments, we processes the payment and categorizes it into the correct account once your customer pays their invoice.

 

Hence, the Quickbooks Payments-credit card account is auto-created in your chart of accounts when your customer pay using their credit cards.

 

Concerning the Process Credit Card option, if this is checked, this will be processed with Merchant Services. 

 

Otherwise, it won't. You'll want to uncheck this option when you only need to record a credit card payment without submitting the card for electronic processing.

 

 For future reference, I'm adding our helpful resources to ensure you're on the right track with your transactions using the QuickBooks Payments: 

 

 

Come by again at any time should you have additional questions about this process. We're always delighted to provide you more ideas. Have a great day. 

View solution in original post

1 Comment
QuickBooks Team

The "Receive Payment" screen has a drop down list of Payment Methods. What is the difference between 'credit card' and 'Quickbooks Payments-credit card'?

Glad to see your post here in the Community, @NancyC1. I'm here to share insights about processing and recording payments in QuickBooks Online. 

 

There's no difference between a credit card and Quickbooks Payments-credit card shown in the Payment Method drop-down. Both are for recording purposes only to make sure that your transactions are categorized to the right account. 

 

When an invoice is sent using QuickBooks Payments, we processes the payment and categorizes it into the correct account once your customer pays their invoice.

 

Hence, the Quickbooks Payments-credit card account is auto-created in your chart of accounts when your customer pay using their credit cards.

 

Concerning the Process Credit Card option, if this is checked, this will be processed with Merchant Services. 

 

Otherwise, it won't. You'll want to uncheck this option when you only need to record a credit card payment without submitting the card for electronic processing.

 

 For future reference, I'm adding our helpful resources to ensure you're on the right track with your transactions using the QuickBooks Payments: 

 

 

Come by again at any time should you have additional questions about this process. We're always delighted to provide you more ideas. Have a great day. 

View solution in original post

Need to get in touch?

Contact us