Are you tired of juggling all your financial tasks manually and constantly confused about how and what to pay to keep your business clunk-free? Look no further! QuickBooks is here to save the day. In this article, we'll be discussing QuickBooks fees for credit cards, a great solution for your financial management needs. Get ready to take charge of your finances and streamline your payments with this all-in-one tool!
Why QuickBooks?
QuickBooks, an industry-leading accounting and financial software from Intuit, serves millions of businesses worldwide. It's popular among millennial entrepreneurs and startups, as well as small and medium-sized businesses, and here's why:
- It's user-friendly and easy to set up.
- It offers customizable and scalable solutions for different industries.
- It provides all-in-one solutions for your accounting, invoicing, payroll, and time tracking needs.
- It integrates with other popular apps and software, making your financial tasks much more efficient.
QuickBooks Credit Card Processing
One of the most notable features of QuickBooks is its credit card processing service. This service enables businesses to accept credit card payments in a fast, secure, and hassle-free manner. Some of the key benefits of this service include:
- Ability to accept payments online, in-person, or over the phone.
- No long-term contracts or hidden fees.
- Support for a wide range of credit cards, includng American Express, Discover, Visa, and Mastercard.
- Seamless integration with your QuickBooks software for faster, more efficient transaction tracking and management.
- Access to top-notch customer support and a community of knowledgeable users.
QuickBooks Fees for Credit Card Processing
Now, let's get down to business and discuss the fees you can expect to pay when using the QuickBook credit card processing service. The fees are quite competitive, and they vary depending on the type of transaction being processed.
- For card-present (swiped/inserted) transactions, the fee is 2.4% + 25¢ per transaction.
- For card-not-present (keyed) transactions, such as online or phone transactions, the fee is 3.4% + 25¢ per transaction.
- For invoiced transactions, the fee is 2.9% + 25¢ per transaction.
- If you opt for the QuickBooks Payments plan, you'll be paying a monthly fee of $20, but the transaction fees will be lower: 1.6% + 25¢ for swiped/inserted transactions, and 3.2% + 25¢ for keyed transactions.
One thing to note is that there are no setup fees or long-term contracts to use QuickBooks credit card processing. The fees are transparent and easy to understand, which is always a plus when it comes to financial management tools.
Quickbooks Fees For Credit Cards Example:
Let's say your business generates $10,000 in revenue each month with a mix of online and in-person transactions. If 70% of those transactions are card-present and 30% are card-not-present, your fees would break down like this:
Card-present transactions:
- $7,000 x 2.4% = $168
- 25¢ x (70% of total transactions) = Estimated $175
Card-not-present transactions:
- $3,000 x 3.4% = $102
- 25¢ x (30% of total transactions) = Estimated $75
Total fees:
- $168 + $175 + $102 + $75 = $520
In this example, your business would have $520 in QuickBook credit card processing fees for that month.
In conclusion, the QuickBooks fees for credit card processing should not deter you from considering this powerful financial management tool for your business. The benefits of having a user-friendly, all-in-one solution far outweigh the cost of transaction fees, especially when they are competitive in the market. So why wait? Start your journey towards better financial management with QuickBooks today!
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