Credit Cards & Quickbooks

Discussion in 'Business Operations' started by DFW Area Landscaper, Feb 18, 2004.

  1. DFW Area Landscaper

    DFW Area Landscaper LawnSite Silver Member
    from DFW, TX
    Messages: 2,116

    Well, I've decided to bight the bullet and accept credit cards. I found a company that will do it for 2.25% and $.25 per transaction and $9.95 per month.

    From what I understand, Wells Fargo is the merchant service company that is "in" with Quickbooks. They're sales office doesn't even answer the phone. They expect new customers to leave a message so they can return phone calls at their convenience. I can just imagine what problem resolution might be like with them. I talked to them a year ago and from what I remember, they were closer to 3% and $20 or $30 per month.

    My question is this: I use Quickbooks. Is it worth anything extra to use their recommended merchant services people or is it just as easy to use any merchant services company?

    I've been very impressed with Quickbooks so far. If credit card processing is made easier with their recommended merchant services, I think I might go that route.

    Anyone use QUickbooks and accept credit cards? Which merchant service do you use? How easy is it to process payments?

    DFW Area Landscaper
  2. wojo23323

    wojo23323 LawnSite Senior Member
    Messages: 608

    I use quickbooks and use chase as my merchant account. Quickbooks offers the choice of chase or wells fargo. I have had no problems. Very easy to use and you download payments right into quickbooks automatically.
  3. Henry

    Henry LawnSite Senior Member
    Messages: 548


    How do cc payments get entered into QB since the payment is lower than the invoice amount?
  4. DFW Area Landscaper

    DFW Area Landscaper LawnSite Silver Member
    from DFW, TX
    Messages: 2,116

    +++How do cc payments get entered into QB since the payment is lower than the invoice amount?++++

    Not understanding that was why I was about to go with Wells Fargo Merchant Services. Can you believe their sales department doesn't answer the phone...they expect you to leave a message so they can call you back at their convenience!!! To top it off, I left a message for them yesterday at 10:30am and they still haven't called me back!!!

    I went with Payright. The way it works is they deposit 100% into my account. If I charge $100.00 to a customer's credit card, they deposit $100.00 into my checking account. Then, they turn right around (not sure if they do this monthly or what) and draft my checking account for their fees. Payright charges 2.29% of all transactions, plus $.25 per transaction. There is also a $9.95 per month fee. They require a three year service agreement.

    I got some really bad advice from some folks on LawnSite a year ago. They lead me to believe that collections in this industry weren't a problem and they collected way over 98%. In fact, my cousin who is a landscaper in OKC, said the same thing, as did a landscaper I know in Tulsa. I don't know how everyone else is getting so lucky. Based on my 2003 uncollectibles, they were just flat azz wrong. My uncollectibles in 2003 were way higher than 2.29%. 2.29% would be a wet dream for me.

    From here on out, all my new customers will be giving me a credit card to bill to or I won't be doing any work for them. It's that simple. Mowing someone's lawn in 100 degree heat with no money down is, in my mind, the epitomy of naive and borderline stupid.

    DFW Area Landscaper
  5. lawnMaster5000

    lawnMaster5000 LawnSite Senior Member
    Messages: 591

    Could someone please elaborate on how to record CC Payments into quickbooks when using a non-quickbooks merchant account such as How do you adjust the customer's balance to reflect the smaller payment amount and where do you track this added expense?

    Thanks for the help.
  6. Johnny

    Johnny LawnSite Member
    Messages: 101

    I would record all credit card fees (1 monthly total) under DIRECT OPERATING EXPENSES. It has it's own entry... CREDIT CARD SERVICE.
  7. SodKing

    SodKing LawnSite Bronze Member
    Messages: 1,641

    The client is paying off the debt in full, not at a lower amount due to the fees. The fees would be expensed. I have quickbooks with wells Fargo as the merchant service, I love it and I have never spoken to anyone. All is done online. I enter the fees which I apply when I balance the checkbook.

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