by Intuit•16• Updated 1 month ago
Learn how to process an ACH bank transfer for your customer’s sales receipt or invoice in QuickBooks Online.
Get rid of paper checks and busy bank runs. With your customer’s permission, you can add ACH payments right in QuickBooks. Save their bank info for future payments.
Note: Set up QuickBooks Payments now so you can accept bank transfer payments in your QuickBooks Online account. Customers can pay from their online invoices. You can set up autopay for recurring invoices. This way, you don't need to keep track of your customer's payment info.
Step 1: Select the transaction to receive payment
Add bank transfer payments to invoices or sales receipts.
- Select + New.
- Select Receive Payment or Sales Receipt.
- Select the customer name from Customer▼.
- From the Payment method▼ dropdown menu, select Check or QuickBooks Payment - Bank.
The sales receipt will process the ACH payment on its next scheduled charge date. Learn more about how to set up a recurring sales receipt.
- Go to Settings ⚙, then select Recurring Transactions.
- Find your customer’s recurring sales receipt from the list, then select Edit.
- From Payment method▼, select Check or QuickBooks Payment - Bank.
Step 2: Enter your customer’s bank info
Sales Receipt or Invoice
- Select Enter Bank info.
- Add your customer’s Account Number, Account Type, Routing Number, and Name.
Note: You should get the customer’s authorization before you save their payment info. You can print an authorization paper for your customer to fill out and sign. If you don’t have to save the bank info, you have 10 minutes to process the payment.
Recurring sales receipt
- Select Enter Bank info.
- Add your customer’s Account Number, Account Type, Routing Number, and Name
- Select Use this account information in the future.
Note: You should get the customer’s authorization before you save their payment info. You can print an authorization paper for your customer to fill out and sign.
Step 3: Process payment
- On the transaction form, select I have authorization and would like to process this transaction.
- Review the transaction, then Save and send.
- Make any changes to the email message to your customer, then Send and close.
Note: ACH payments entered manually by the merchant may be delayed due to extra security checks. Collecting ACH payments from Pay-enabled invoices can help reduce payment processing risks.
QuickBooks Online AdvancedQuickBooks Online EssentialsQuickBooks Online PlusQuickBooks Online Simple StartQuickBooks Payments
FAQs
How do you send an ACH payment? To send an ACH transfer, you'll need the account information of where you want to send the money. Once you have that, you'll submit the payment through your online banking portal or PayPal.
How to process ACH in QuickBooks Online? ›
ACH Payments to vendors
- Sign in to your QuickBooks Online company file.
- Select Expenses, then Bills.
- Choose Schedule Payment or Save and Schedule Payment.
- Select which bank account you want to use as your funding source and withdraw funds from.
- Click Add a bank account to find and select the bank you'll use.
The 7-step process of making ACH payments
- The ACH transaction is initiated. ...
- The originating financial institution submits entry. ...
- ODFI sends ACH entry batch. ...
- ACH operator sorts entries. ...
- ACH operator sends entries. ...
- RDFI verifies there are sufficient funds. ...
- RFDI debits or credits originating institution.
Record a new transfer
- Select + New.
- Select Transfer.
- From the Transfer Funds From dropdown list, select the bank account that the money is coming from.
- From the Transfer Funds To dropdown list, select the bank account that the money is going to.
- In the Transfer Amount field, enter the amount being transferred.
To make an ACH transfer, you'll need to provide the following details:
- Name.
- Routing/ABA number.
- Account number.
- Whether the bank account is a business or personal account.
- Transaction amount.
How do you send an ACH payment? To send an ACH transfer, you'll need the account information of where you want to send the money. Once you have that, you'll submit the payment through your online banking portal or PayPal.
Can you do an ACH transfer online? ›
Yes - individuals can send or receive ACH payments for business transactions or personal needs. ACH payments can be sent anytime and anywhere. The online payment process is that simple and safe.
How are ACH transactions processed? ›
In the case of your payment, the ACH Operator sends a file to your bank or credit union, instructing it to credit the funds to your account on payday. Your bank or credit union is the “RDFI” (Receiving Depository Financial Institution). The RDFI places the money in your account, making you the “Receiver.”
How to accept ACH payments from customers? ›
To receive an ACH payment, you need to provide your bank's routing number and the account number for the checking or savings account you want the money deposited into. With some companies, you may also need to sign an ACH authorization form; your client should provide that if it's required.
What is the difference between ACH and bank transfer? ›
Both ACH and wire transfers work in a similar way, but with different timelines and rules. Wire transfers are direct, generally immediate transfers between two financial institutions. ACH transfers, meanwhile, pass through the Automated Clearing House, and can take up to a few business days.
Here's how to import:
- Go to Transactions, then select Bank Transactions.
- Select the account you want to upload the transactions into.
- Select the Upload a file.
- Select Drag and drop or select files and select the file you downloaded from your bank.
Hi angelabronze1991 A deposit is where your customer or possibly a supplier, in the form of a refund, has forwarded you an amount to your bank account. A transfer is where you have transferred money between two accounts within QuickBooks, you may possibly have two bank accounts connected.
How to transfer funds from QuickBooks to bank account? ›
How do I transfer money from QB cash to my bank account?
- Go to Business overview, select Cash flow, then QuickBooks Checking.
- Select Transfer and then select to transfer money between your accounts. ...
- Click Add a bank.
- Enter your bank's name and select your Account Type.
- Enter your account number and routing number.
How to process ACH payments in QuickBooks Online
- Click on “+ New.”
- Choose either “Receive Payment” (for an invoice) or “Sales Receipt” (for a sales receipt).
- In the “Customer” drop-down menu, pick the customer's name.
- In the “Payment method” drop-down menu, choose either “Check” or “QuickBooks Payment – Bank.”
You'll need the following details about the person or company you're paying: Bank routing number. Account number. Account type (checking or savings)
What are the requirements for ACH data? ›
The ACH Rules require that any transmission of banking information, such as a customer's bank account and routing number, be encrypted using “commercially reasonable” encryption technology if transmitted via an unsecured network, like the Internet.
How do I get customers to pay through ACH? ›
Let them know how the problem can be avoided with an ACH payment. (Bonus recommendation) Provide instruction on how to pay by ACH. Leverage the one communication your customer probably pays attention to: the bill or invoice. Lobby to have clear ACH payment instructions provided on bills/invoices and your website.
How much does QBO charge for ACH processing? ›
For QuickBooks Online Payment pricing, all ACH transactions are charged at a 1% fee with a maximum of $10 per entry. Processing fees also vary depending on whether the card is swiped (2.4%), invoiced (2.9%), or keyed (3.4%) and on the amount of payment being processed.
How do I collect my ACH payment online? ›
How to accept ACH payments
- Step 1: Create an ACH merchant account. The first order of business is to set up your own ACH merchant account. ...
- Step 2: Request customer authorization. ...
- Step 3: Set up the payment. ...
- Step 4: Submit your payment details.
We can help you create ACH files using a direct connection to QuickBooks Online. Create ACH (Nacha) and EFT files from within ACH Universal - without having to export and import. Create ACH files from QuickBooks Online for: Direct Deposit for employees.
