Intuit announced it will be making upgrades to its QuickBooks Payments accounts to make it easier for users to view and manage their activity.
Upgrade benefits will include:
- One combined statement for all your check/ACH and credit card activity.
- A single daily deposit to your bank with all of your check/ACH and credit card volume labeled Intuit Deposit.
- A single monthly debit to your bank for account fees labeled Intuit Account Fee.
- All transaction fees will now be assessed at the time of transaction and be collected in a single daily debit labeled Intuit Tran Fee.
- Two day funding applies for most transactions processed prior to 3 p.m. PST.
- Check/ACH transactions that are returned due to insufficient or uncollected funds will be resubmitted up to two additional times. If we are unable to collect, your account will be debited for the amount of the check including applicable return check fees.
- Improved reporting will be available at merchantcenter.intuit.com
What You Need to Do
There is nothing you need to do. Intuit will notify all QuickBooks Payments customers when the upgrade to their account is complete.
Please contact Sepulvado Consulting Group if you have any questions.