QuickBooks Introduces Next-Day ACH For Faster Payments

Intuit’s QuickBooks is adding a new feature designed to fast payments and cash flow for small businesses.Next-Day ACH payments tool allows small businesses and the self-employed to get paid both faster and affordably.

Intuit Inc.’s QuickBooks is introducing next-day funding for ACH payments to its platforms as a faster payments option for small businesses using its business management tools. This is the continuation of the company’s efforts over the last year to speed up money delivery such as same day pay roll and next day availability for credit card payments.It is said by Intuit Business Leader for QuickBooks Payments and Capital, Rania Succar that “With the addition of Next Day ACH, we are giving small businesses and the self-employed a powerful suite of payments tools that allows them to get paid both faster and affordably.” Though, businesses that invoice via QuickBooks Payments can receive next day funding for both credit card and ACH transactions. Obtain QuickBooks phone number to get an effectual ideas related to this amazing feature.

How QuickBooks ACH Works?

When a customer goes into their bank account information on the payments page, QuickBooks sends an instruction to its bank to tweak money from your customers’ bank on your behalf.Once the ACH instruction is processed by the bank the money from your customers account is moved to QuickBooks account. QuickBooks receives millions of such transaction every day and hence will need to have a program that maps each such incoming transaction to the final bank account of which the money requires to go.Once your customers’ money reaches to QuickBooks bank account, QuickBooks will again send a credit ACH instruction to push money to your bank account or seller.

According to QuickBooks, firms that invoice via its Payments platform are three times more likely to be paid same-day; however, there can be significant hold-up time between when a customer pays an invoice and when those funds actually land at the small business recipient. Having funds in their account next-day can be an important support for cash flow, the company noted.

Well! There are some issues related to QuickBooks ACH payments that can be encountered. Issues are listed below:

·         QuickBooks ACH payments take around 5-7 days to reach the bank 

·         QuickBooks doesn’t support recurring ACH payments

·         Large value transactions Via QuickBooks ACH

Dial QuickBooks Online Support Number For One-Stop Remedy

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Created on May 14th 2019 04:26. Viewed 620 times.

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