Options for QuickBooks Users

This week I have had the pleasure of analyzing two merchant account statements from businesses that were running their transactions through the extremely popular business accounting software QuickBooks . Both businesses were with the same merchant account provider and both were paying significantly more in fees than they needed to.

Statement Confusion

What I found interesting about these two statements was how difficult they were to comprehend. On the cover page of the statement, in bold letters, there is a summary statement that reads "TOTAL CHARGE TO YOUR ACCOUNT IS…" The amount that was shown on both statements I analyzed equaled about half of what the business actually paid. Then when I reviewed the summary of the types of transactions my confusion increased. Now I review merchant account statements for a living and I’m confused? So how is a business owner or an account supposed to decipher this stuff?

Options

The good news is that there are a few solutions for businesses that desire to run their credit card transactions through Quickbooks. The first is from a company named Skipjack . They have developed a plug-in you can download and install on your computer. Once installed the plug-in produces a payment window(see below) from within Quickbooks for you to enter your transactions. What this means is you can pretty much use any merchant account provider and still enter your transactions through Quickbooks. Go here for more details on this product.

The other option is from authorize.net . This is the most popular online payment gateway for small to mid sized businesses in North America. They do not allow you to run transactions from with in Quickbooks but they do provide the ability to download your transactions and upload them into your ledger.Both of these options charge a monthly gateway fee and a per transaction fee. However, those fees become insignificant when you realize how much money your business can save by getting out of Quickbooks merchant account jail.

Take Action

So if you want to use Quickbooks, maintain an accurate records of your credit card transactions and lower your merchant account fees what should you do? Go ahead and take a look at the websites I have linked to above and then give me a call . I will answer any questions you may have and then analyze your current merchant account and show you how much we can reduce your fees by. Go ahead take some action - the jail door is wide open. You are free to leave!

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