Setting Up Our Current Merchant Account with QuickBooks
Some other things to be aware of. You’ll also have to batch your deposits manually, QuickBooks can only do it for you automatically, when you use their service, and it’s not easy to batch manual credit card deposits to match your bank deposits. Make sure to post separate deposits for Amex, Discover and MC/Visa because they are each deposited as separate transactions on different dates (Amex, for instance, takes a few days longer to deposit than MC/Visa). You should also ask your merchant service provider to use gross deposits (fees debited in a separate transaction) instead of net deposits (fees deducted from the deposit) otherwise reconciling your checking account is going to be a nightmare, if not impossible.
Using QuickBooks merchant services will save you a lot of time, so you should consider it. Intuit can generally match whatever pricing you currently have, plus I can get the first two months of monthly fees waived, if you’d like to try it out. You can always go back to your old provider if you aren’t happy with it.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA





Ruth is the president of The QB Specialists, Inc. and has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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