Intuit QuickBooks Go Payment is a card payment process which credit card anytime and anywhere but there should be a simple Intuit mobile card reader for iPhone and Android phone users. This app is a mobile card processing service developed by Intuit.
Benefits of Using Intuit GoPayment Service
Few mobile processors minimize their deposits by the amount of the fees, that can make it complex and time-consuming when trying to reconcile to your sales. You may collect your deposits in your bank account, but you have no real fact of how much it costs since the fees come right out of the deposit. When you swipe a credit card transaction using GoPayment, the fees are a separate transaction, which makes it easy to reconcile.
Since GoPayment reconciles the fees spontaneously, which saves time. It becomes time-consuming to record a deposit that is net of the fees. You must ensure that your client identifies the correct workflow to record this deposit properly. Reconciling manually can take twice as long as integrated QuickBooks payments. The client often doesn’t recognize how many additional steps it takes to match the payment to the deposit until it’s late.
The reasons QuickBooks Payments to be popular is that it integrates with QuickBooks financial products. When observing QuickBooks Payments and GoPayment, you must find out from the client, how important the integration will be for them.
If they want to save money and time, as we discussed above, and Using QuickBooks software is a great method for them because the integration will take a huge burden off when it comes time to reconcile since it is done immediately. Other merchant processors which do not have a QuickBooks integration may need additional time reconciling deposits which lead to potential errors.
Check whether phone support will be important to your client. There is nothing more disappointing than waiting 24 hours for an email response related to the transaction that was processed and is not clearing the checking account. It makes it complex for a business to function. QuickBooks Payments comes with free phone support anytime. Not all mobile payment processors offer phone support.
When payments are not processed in a proper manner in QuickBooks, it may lead to inaccurate reports.
It is found that clients will often record the deposit directly to income. What the clients are not recognizing is that income has already been recorded on an invoice. Therefore income is double stated.
Overstated Accounts Receivable
Accounts receivable could also be overstated. If the payments were never recorded to minimize the open invoice, you might be trying to collect invoices which have already paid. The books just become a huge mess.
Overstated Undeposited Funds
If the received payments are not grouped into a deposit or entered net of the fees, they just wait to be deposited. In such case, Accounts Receivable is right, but the bank account is a mess.
Understated Credit Card Fees
If proper care is not taken in the deposit entry by recording the payment and subtracting the credit card fees, you will never have visibility of how much your credit card processing is really costing you.
Hope, this article helps you to know about the benefits of Using Intuit GoPayment Service. If you are facing any technical difficulties while using QuickBooks, please get in touch with our QuickBooks Technical Support Number at 1-877-263-2742 (Toll-Free), QuickBooks Support Phone Number at 855 441 4417and speak to the Certified QuickBooks Experts.