Intuit GoPayment provides numerous advantages that you must know about. These things you must discuss with your client before selecting mobile reader to serve their needs. It will help users to know better how much beneficial GoPayment is when compared to others.
Some mobile processors decrease deposits by the fees amount, that make it difficult at the time
reconciling of sales. There are chances to collect deposits in your bank a/c, but you
lack idea regarding how much it costs because the fees come right out of the deposit. While you swipe a
credit card transaction using Intuit GoPayment, you will see that fees being a separate transaction making it simple
Intuit GoPayment restores the fees automatically, with this you can save your time. Otherwise, it
will consume most of your time. Make sure that your client
understands the workflow to record this deposit. Reconciling may take double as long as integrated
Quickbooks payments manually. Also, the client doesn’t realize how many more steps are
needed to match up payment to deposit until it’s too late. They regret and that will
take more time to clean up to confirm the correct financial statements.
Quickbooks payment is popularly known as it integrates with QB financial products. So,
while considering Quickbooks Payments and GoPayment from your client, you must check how beneficial
the integration will be for them. The client needs to handle their deposit entries
when GoPayment has set up properly. Also, see if phone assistance is required for your client. Quickbooks
payment comes with free of cost phone support.
In case, your payments have not processed properly in QB, then it will lead to inaccurate reports. Areas you
must know about:
Financial Reports includes
1. Overstated Income
It is a common issue. What they don’t understand is that income has already shown in the invoice. Therefore the income is double stated.
2. Overstated Undeposited Funds
Suppose, payments are received but never classified into a deposit or inserted net of the fees then they just
wait to be deposited. Due to this, A/c Receivable is correct, but your bank a/c is a problem.
3. Overstated Accounts Receivable
It is overstated. If the payment has not been recorded to decrease the open invoice then you must go for
collecting invoices that have already paid.
4. Understated Credit Card Fees
If due attention is not paid, you will see an error in deposit entry by recording the payment and
subtracting the credit card fees. You can never see how much your card processing is costing you.
If you want to know more about Quickbooks GoPayment then, make a call at Quickbooks help number 1-866-292-4631.