Intuit deals with accounting and financial tools that avail the user to manage the complex operations of the business in a convenient way. the Intuit Payment Network is the best tool for small and medium-sized businesses to process payments. the prime usage of this feature is to send and receive payment online. this payment feature will save you a lot of time, very easy to use, and furthermore affordable. So if you wish to know more about this in detail then you are in the right place. In this blog, we will explain to you about the usage of the Intuit Payment Network and how it can benefit you in your business.
the Intuit Payment Network uses credit cards and electronic checks to process the payments. The feature is very adaptive and can easily integrate with the Quickbooks software. here is the list of the things that have been introduced in the latest release of this feature:
- It accepts Credit Cards Now.
- Guest Payments
- Payment Request Page Branding
- Reconciliation feature without using the Sync manager
- Recurring Payments
Quickbooks Payroll feature is also one of the payment processing features of the Quickbooks software that avails users to calculate payroll taxes at the end of the month and to generate invoices and tax calculations. the Quickbooks Payroll service is a subscription-based service and users can also use the Manual payroll feature in Quickbooks to add payroll transactions in Quickbooks manually. You can have a look here to know how to use the Manual payroll feature in Quickbooks Desktop.
List of Electronic Payment Portals In Quickbooks
- Nelix TransaX
- Bill & Pay
- Intuit Payment Network
- Intuit Gopayment
Intuit Payment Network Features
- The Payment Network is Quite fast then earlier methods and very user-friendly.
- the Interface is very easy to understand and use.
- IPN is very affordable.
Fee Structure of Intuit Payment Network
Per Transaction Fee: When you will make a payment using the Intuit Payment Network, a transaction fee will be added to the transaction.
Discount Rate: The discount rate in the Intuit Payment Network depends on various factors. the discount rate calculation will be based on some percentage of the transaction. hence, the discount rate in your business will vary depending upon your vendors.
- In order to use the Payment Preferences option in IPN, you will be required to create an account in the Intuit Payment Network.
- after that when you will create an invoice then you get to see checkbox in the left corner.
- A link will be attached automatically when you will try to print or email an invoice.
- Along with the payment information, an email message will also be present.
Payment Request Page Branding: This is one of the new features that has been introduced in the Intuit Payment Network. You will get to see the name of your company on the top when you click on the payment link.
List of Fors and Against of Intuit Payment Network
As per the usage of the Intuit Payment Features, the researchers at the Intuit community have listed out some advantages and disadvantages of the Intuit Payment Network.
Advantages of Intuit Payment Network
these were some of the advantages of the Intuit Payment Network
- the payments or transactions made using mobile will be updated directly into the Quickbooks software.
- the IPN network is quite faster than the other payment networks and its very easy to use.
- the processing rates and fees at the Intuit payment network are quite affordable.
- the IPN is very suitable to use for the Payroll service.
- you can easily set up the payment Network and its very adaptive.
Disadvantages of Intuit Payment Network
- the time to process the deposit of the transactions in this network takes more time than usual.
- there is no feature or service for budgeting in Intuit payment networks.
- you might face issues while opening the recurring payments in this network.
- the loading time of the page is also very high.
- the network will take time to process the payment information
So this was all about the Intuit payment Network that you should know. We have tried to explain all the aspects that are needed to use the Intuit Payment Network for you, still, if you have any query related to this payment Network then feel free to contact Professionals at Quickbooks. they will guide you in detail about tall the aspects to make it easier for you to understand.