Frequently Asked Questions
Frequently asked questions regarding changes to your QuickBooks Merchant Service account & Intuit PaymentNetwork accounts when you update to the new QuickBooks
Many of our Intuit customers were confused and overwhelmed managing several payment accounts with us, including QuickBooks Merchant Service, GoPayment, and Intuit PaymentNetwork. These accounts were all separate and required individual applications and logins for payment management.
We combined all these accounts into a single, convenient QuickBooks Payments account to improve your experience, and help you get paid faster.
Do I have a new account?
No. We’ve taken your existing Merchant Service account, incorporated the invoicing payment functionality and added bank transfer payments of Intuit PaymentNetwork, and renamed this new single account to QuickBooks Payments. Your QuickBooks Payments account uses the same account number as your old Merchant Service account. There’s an updated Merchant Agreement, which you can find by going to http://intuitpayments.com/legal.
No, you get all the great new functionality at no additional cost. All credit card transactions will reflect the rates and fees from your original Merchant Service account. Plus, continue to pay just $0.50 for bank transfer (ACH) payments.
No. For credit cards, it’s still around 2-3 days. For bank transfers (ACH), it’s around 3 days. Transaction status for both can be found directly in QuickBooks.
You can do all the cool things you did before, like take credit card payments from within your QuickBooks or on the go with a mobile device. You’ll also be able to email invoices with a new and improved Pay Now button so your customers can click and immediately pay online. Now all these features and payment types are in a single account and everything automatically ties back to QuickBooks, keeping your books updated and balanced with no additional effort.
Your Intuit PaymentNetwork account will remain active so you can use other features not found in QuickBooks such as the creation and use of PayLinks and eCommerce button. Simply go to the Intuit PaymentNetwork website: ipn.intuit.com. However, any actions taken on the Intuit PaymentNetwork website will not integrate back into the new QuickBooks.
It is recommended that all invoice payments and other incoming payments be processed through the new QuickBooks Payments account, which integrates with the new QuickBooks and will offer you and your customers the best experience.
I have an open invoice(s) with the Intuit PaymentNetwork link – what happens if a customer pays using the link after I move to the new QuickBooks?
Not to worry, any customer payments made against open invoices with the Intuit PaymentNetwork link will still work and will reconcile with the new QuickBooks.
Can I still pay bills using Intuit PaymentNetwork in the new QuickBooks (pay vendor through outbound payment)?
No, you won’t be able to pay vendors with QuickBooks Payments in the new QuickBooks. If you want to pay a vendor, you can go to ipn.intuit.com. Pay a Vendor payments won’t show in the new QuickBooks.
Yup, there’s nothing more you need to do to start using your payment account in the new QuickBooks. You should be able to take credit cards immediately, though the new bank transfer payment option (ACH) may take 1-2 days to activate.
Yes, you’ll actually see some improvements, including:
- New, easier to read simple credit card statement.
- Accurate fees at the time of transaction – no month end adjustments.
- You will also notice slight changes in your bank statements.
A couple of notes:
- You will receive a separate statement for bank transfer (ACH) payments.
- If you choose to continue using Intuit PaymentNetwork outside of QuickBooks, you will need to go into www.intuitpaymentnetwork.com to review reports on those transactions.
Yes, you can continue to call 800-558-9558 to reach support for QuickBooks Payments related issues. However, if you need to do voice authorizations, you’ll have a new phone number: 888-301-3246.
There is no major change impact to your customers. Your customers can continue to pay you in the ways they are familiar with, in addition to being able to pay on an emailed invoice. There will be a slight change in the way they will see your charge appear on their credit card or bank account statements – the business name will begin with INT*. If the DBA business name was "Main Street" it will now appear as "INT*Main Street."
Yes! We think you’ll be pleasantly surprised to find that when you move to the new QuickBooks, all of your QuickBooks Payments deposits and fees automatically reconcile. This means you no longer need to manually enter the credit card processing fees and deposits back into QuickBooks. We do it for you, so you don’t have to.
All you need to do is tell us where to record your Payments deposits in QuickBooks. We’ll ask you to choose an account once you’ve moved to the new QuickBooks.
After you process the payments or your customer pays through an online invoice, they're recorded in a new account called Undeposited Funds. Once we fund you the money, QuickBooks records the deposit for you in the account you chose. Fees automatically record as an expense. You’ll see all your processing fees under a new expense account called QuickBooks Payment Fees.
If you want to change this or the income account where we record your deposits:
1. Click the gear icon at the top right of your QuickBooks.
2. Click Company Settings.
3. Click Payments.
4. Under Payments accounts, click the edit pencil.
5. Tell us which accounts you want to use for deposits and fees.
6. Click Save.
Also, your QuickBooks Payments fees are under a new Vendor called QuickBooks Payments.
If you want to change the vendor name we associate your processing fees with:
1. From the home page, click Vendors.
2. Select QuickBooks Payments.
3. Click Edit.
4. Enter a new name.
5. Click Save.
- Have my services been merged?
- Do I have a new account?
- Does this cost me more?
- Any changes to funding time?
- What's new?
- What will happen to my existing account?
- What if I have an open invoice?
- Can I still pay bills with Intuit PaymentNetwork?
- Can I start taking payments immediately?
- Are there any changes to my statements?
- What's the customer support phone number?
- Will this change impact my customers?
- Are there any changes to how I reconcile?