How to Bill and Get Paid Recurring Payments in QuickBooks

Many businesses use QuickBooks to invoice clients and then receive payment at a later time. If you need to do automatic recurring payments where you charge clients on their credit card for a set amount every single month, this can also be done within QuickBooks. In today’s episode, Bernard Roesch explains how to configure automatic recurring credit card payments within QuickBooks.

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* Note that this blog post is derived from the transcript of the audio discussion. Please excuse any typos or odd wording.

Example of automatic recurring payments in QuickBooks

The example we will use for this episode is an IT consultant that charges clients $500 per month on their credit card for a monthly support fee. Your specific use case might be different, but this example will help to clarify the process.

Configuring automatic recurring payments in QuickBooks Online

The steps to configure automatic recurring payments in QuickBooks Online are quite simple. First, you set up a sales receipt template. A sales receipt template is basically an invoice and a payment transaction all rolled into one. You will need to set up a credit card payment as part of a recurring sales receipt transaction for the customer. This recurring transaction would be set to occur on the first of the month for the amount that you want the charge to be. Each month, this would produce a sales receipt, charge their credit card, and have your data within QuickBooks be accurate to reflect the sales receipt as well as the actual payment. This is simple if you’re using QuickBooks Online as well as the Intuit merchant services product.

Logging automatic recurring payments in QuickBooks with third-party merchant services

If you’re not using QuickBooks Online and the Intuit merchant service, then the process to log automatic recurring payments in QuickBooks is a little more complicated. You can set up recurring charges to happen in the merchant service, but it’s sometimes difficult to automate the logging of those transactions against QuickBooks records. There may also be situations where you’re not using QuickBooks Online such as QuickBooks Desktop users, QuickBooks Enterprise users, etc. In these cases, third-party products might be a better solution to handle the automatic payments part in a more streamlined way.

Need help configuring automatic recurring payments in QuickBooks?

If you need help configuring automatic recurring payments in QuickBooks, either as a new process or to simplify your existing process, contact Bernard today. Bernard has set up new processes for businesses wanting to have automatic recurring payments and has also helped to migrate complicated automatic recurring payment processes handled in third-party systems into QuickBooks.

You can also visit MissionBusinessPodcast.com for more insights that Bernard has been sharing with us in the previous episodes.

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Bernard Roesch About Bernard Roesch

Bernard Roesch is co-founder and Managing Partner of Mission Consulting. Bernard’s background in the early years of his career was spent in the manufacturing sector, making his QuickBooks perspective a unique one – he understands the intricacies of a complex environment and then applies his strategic skills accordingly.