Thank you for posting in the Community space, @rameet.
With our Recurring Transaction feature, you can set up automatic direct deposit bank payments from your customers. This is advantageous if you have a lot of customers that you charge for the same products/services simultaneously.
- Click the Gear icon.
- Under Lists, choose Recurring Transactions.
- Click New.
- From the Transaction Type drop-down, choose Invoice.
- Click OK.
- Set up and enter all the necessary information.
- Select Save Template.
For in-depth information, you can refer to this article: Create templates for recurring transactions.
Keep me posted on how these steps work out for you. I'm still here to help you more if you have more questions. Just drop a comment or mention my name.
Thank you! I went ahead and set up a recurring monthly invoice set for bank transfer. So I am clear, once the customer receives the first invoice and enters in their bank info then will we be able to automatically pull the amount owed to us directly from their bank account every time they receive an invoice? Or do they still have to manually approve the transfer of funds?
Thanks for getting back, @rameet.
Allow me to chime in and help share some information about setting up recurring payments.
If you want to set up automatic received payments from your customer on the schedule you set, you can set up a recurring sales receipt for the charges.
Once you send your first recurring sales receipt to the customer, you'll have to to be the one who enters the bank information from your customer then select the I have authorization and would like to process this transaction hyperlink to provide your customer with the Bank Transfer Authorization Form. Check the box to ensure the payment will process each time a form is created using this recurring transaction.
That should do it. If you need additional information about the sales receipt recurring transaction, you can refer to this link: Set up a recurring sales receipt.
Keep me posted if you have other questions about your recurring transaction. I'm always here to help.
Thanks for your quick response! What is the difference between doing this and setting up a recurring invoice and selecting Bank Transfer?
Hello there, @rameet.
I'd be happy to share some insights about recurring transactions.
As mentioned by my colleague above, setting your recurring sales receipt automatically makes sales receipt for your monthly charges.
Also, for recurring sales receipts, you still need to manually enter their bank information.
While recurring invoices send a reminder to your customer about an open invoice. And from there, they are able to pay the invoice through bank transfer.
Your customers will have the option to Review and Pay the invoices sent to them.
Please feel free to get back to me if you have any other questions. I'll be around to help you.
Hi there! I actually have one more question. When I create a recurring sales receipt, Bank Transfer (ACH) is not an option in the Payment drop down. I only see Check. Is there no way to set up recurring automatic payments via Bank Transfer (ACH) payments? Please see the attached screenshot. Thanks!
Thanks for coming back to the Community and for the screenshot, rameet.
Allow me to help you set up recurring ACH payments in QuickBooks Online (QBO).
Let me show you how:
To apply for a Payments account:
- Choose the Gear icon at the top, then select Account and Settings.
- Click Payments, then Learn More.
- Select Choose Pricing Plan to submit your payments account application to us.
Once approved, you have to connect your Payments account to QuickBooks Online.
- Sign in to QuickBooks Online.
- Choose the Gear icon, then select Account and Settings.
- On the right side choose Payments, then click Connect.
- Once the payment account is detected, you'll see a screen like this. Click Next to proceed.
- When the account has been successfully linked, you'll receive a confirmation page like below. Click Done.
- Once the account is linked, in Payments tab of the Account and Settings you will see a Manage Details button. This means your QuickBooks Payments account is now successfully linked to QBO.
To provide a visual point of reference, I’ve included screenshots for you.
Once done, please follow the steps that my colleague provided above on how to create a recurring sales receipt.
These articles provide further insights about accepting payments:
I'm including a video tutorial that can help you set this up in QBO: How to Set Up and Use QuickBooks Payments.
That information should get you back in order. I'd like to make sure that you're able to accept ACH payments, so please let me know how that works for you. Best regards.
It's my pleasure to help you, rameet,
I'd like to share these additional articles about accepting bank transfer (ACH) payments:
The Community always has your back, so please let me know if you have any questions. I'm cheering you to continued prosperity.