In this Part-2 of the mini-series we will cover how to set up the GoPayments App and Import transaction into QuickBooks Online. Where this process may sometimes seems confusing is in the Importing of Transactions into QuickBooks Online.
The GoPayments App is the user’s method for accepting electronic payment via your mobile platform which is processed through the QuickBooks Payment Merchant Service account. We covered QuickBooks Payment Merchant Service in last week’s article where we discussed the setup of a new account inside QuickBooks Online, or linking an existing QuickBooks Payment Merchant Service account to your QuickBooks Online.
In Combination with the GoPayments App users can process payments with the EMV Chip reader allowing them to accept payments on these new bank/credit cards.
In order to realize the benefit of the EMV chip reader it is necessary to use an EMV chip reader on your mobile device. Currently only the EMV mobile chip reader (shown above) is available for use with QBO and GoPayments (even though Intuit offers a desktop EMV chip reader for their Point-of-sale software). Additional EMV devices are on the horizon and will be available at sometime in the future. But for now, it is important to use the EMV reader on your mobile device. If needed, you can purchase your EMV chip reader here.
How to Setup GoPayment App:
1) On your Mobile Device download QuickBooks GoPayment App
GoPayments - fig 1
2) Open App and Sign In
GoPayments - figure 2
TIP: Some have created a QuickBooks Payment Merchant Services account in the app so in this case you will still NEED to connect QuickBooks Payment Merchant Services to QuickBooks Online.
3) If using GoPayments App for the first time Check the Setting > QuickBooks Payments > Verify Bank account numbers
GoPayments - figure 3
4) Ready to Take Payments - Open App and Connect the EMV Chip Reader to Phone to process Payments
GoPayments - figure 4
Importing Payments – Record Transaction in QuickBooks Online
There are several reasons a user may want to Import transactions into QuickBooks Online and the process is pretty simple. These are the steps to Import GoPayments Transactions as either a received payment or sales receipt into QBO:
1) First from the Company Gear Icon > select Import GoPayments
Import payments to QBO - fig 1
2) Next Select Recent GoPayment Transactions to record and choose to either Receive Payment or Create Sales Receipt
Import payments to QBO - figure 2
Importing the Transaction into QuickBooks Online is “not a have to thing”. You can record bookkeeping in QuickBooks Online the traditional way even if you receive a mobile payment or even rely on QuickBooks Online Bank Feeds to close Invoices and Record Deposits but if you have several invoices for a particular customer this process could get messy to keep matched up.
The Biggest thing to remember is all pieces which make up your electronic mobile payments.