At last: businesses have the best of both worlds when it comes to easy accounting software and savings. How?
Thanks to a new way to integrate them, your business can finally combine the convenience of QuickBooks with the savings and payment options from having your own payment processor.
In this article, we’ll cover the whys and how’s when it comes to integrating QuickBooks with a third-party payment processor, along with everything else you should know.
Why integrate a payment processor into QuickBooks?
As they say, “imitation is the most sincere form of flattery”. And QuickBooks has had plenty of imitators due to how easy it makes accounting.
But in the past, using QuickBooks meant paying for their payment processing service, which costs far more than using a traditional third-party payment processor. Third-party processors can offer a much cheaper pricing structure (Interchange Plus pricing) compared to the more-expensive Flat-Rate pricing of QuickBooks.
Not only that, but there were also limits when it came to integrating with other software. The fact is, QuickBooks’ application programming interface (API) isn’t openly available to software programers.
That means if you want to connect QuickBooks with other tools now or later, it’s either impossible or it’s far more work by requiring different third-party software.
This is why we wrote an article about how the payment processing software feature QuickBooks Payments costs too much. Nevertheless, people who wanted to use QuickBooks had no other choice than to bite the bullet and pay their expensive processing rates–until now.
All of these limitations of QuickBooks have changed thanks to a new program called Instant Accept.
How ‘Instant Accept’ creates greater savings and payment options
Thanks to Instant Accept’s unique ability to integrate anything payment related into QuickBooks, an entire world of payment options and savings has been opened to businesses.
It works as a software connection between your POS (point of sale) system and your QuickBooks accounting software. This opens up a world of possibilities to save both time and money for businesses. We’ll focus on the two most important ones: cost savings and increased payment options.
Cheaper payment costs for businesses
Because a business can now use QuickBooks with whatever POS system they would like, they can now utilize the full power of a third-party payment processor while keeping the convenience and efficiency of QuickBooks accounting software.
That means businesses can now save hundreds if not thousands of dollars per month in processing fees thanks to cheaper processing rates from their own payment processor, instead of the 2.4-3.4% + 25¢ that QuickBooks processing charges.
Not only can your business now accept credit cards, but thanks to Instant Accept, you can now accept them over the phone or online as Card Not Present transactions, as well as accept Debit cards (both PIN and PIN-less), and checks (including ACH).
Combine these forms of payment with new ways to pay like cash discounting, mobile device payments, digital wallets, and others, and it’s clear to see that businesses can now expand their payment options to grow their business much more easily.
How else your business benefits from integration with a payment processor
Combining QuickBooks and your payment processor means more than just savings. Here are several ways businesses benefit by having a payment processor backing them.
Simple contracts with no fees
Some processors like Progressive Payment Solutions don’t charge any hidden fees in their contracts along with using the most affordable pricing models. That means you have greater flexibility while also remaining in complete control of your payments and accounting.
Fast, helpful customer service
Instead of having to call a 1-800 number and wait on hold if something goes wrong, local payment processors can make sure you can quickly and easily talk with someone that speaks English well and who can resolve your payment problems quickly.
On top of that, processors like Progressive Payment Solutions even go out to the physical locations of their customers to help set up equipment and troubleshoot any issues.
For more info on how your business will benefit from choosing your own payment processor, see our guide on what to look for in a payment processor.
Businesses no longer have to sacrifice money for convenience when it comes to their accounting software. Thanks to Instant Accept, they can now get the speed and simplicity of QuickBooks software with the savings and support of a payment processor, allowing them to save hundreds to thousands of dollars per month while getting the best service.
Ready to seamlessly connect your QuickBooks system to a payment processor that provides the cheapest processing rates in the industry? Then contact PPS today. Our local staff will make running your business easier while providing guaranteed savings for your business money.