AHMB 5 Effortless Methods to Reduce Your QuickBooks Credit Card Expenses

5 Effortless Methods to Reduce Your QuickBooks Credit Card Expenses

QuickBooks stands as the premier accounting software for small businesses, boasting nearly 10 million users and commanding a substantial 64.5% market share.

Known for its versatile functionalities and user-friendly interface, QuickBooks serves as a robust accounting tool empowering businesses to efficiently manage their finances. Moreover, it offers a convenient means to accept credit cards.

Yet, while QuickBooks simplifies financial management, its native software can inadvertently lead to increased credit card fees. Fear not, as with a well-devised strategy, these QuickBooks credit card costs can be curtailed.

Here are five uncomplicated ways to trim down your QuickBooks credit card fees and secure the most cost-effective credit card processing for your business.


  1. 5 Effortless Methods to Reduce Your QuickBooks Credit Card ExpensesLeverage a QuickBooks Payment Integration

Employing a QuickBooks payment integration enhances the flow of information at the point of sale. It automatically transmits line-item details and stored invoice information to a PCI-compliant payment gateway, enabling your cards to qualify for reduced interchange rates. This integration not only minimizes QuickBooks credit card fees but also eliminates daily tasks formerly handled by employees. With automated updates to the General Ledger, there’s no need for manual management of Accounts Receivable or redundant data entry. This streamlining not only simplifies the payment process but also saves time and money on employee training.

  1. Opt for a PCI-Compliant Payment Gateway

A PCI-compliant payment gateway facilitates credit card transactions by authorizing payments between the credit card network and the issuing bank. As this process involves sensitive credit card information, it is crucial to ensure the use of a PCI-compliant payment gateway adhering to industry standards. To maintain PCI compliance, businesses must complete a yearly Self-Assessment Questionnaire (SAQ) and/or pass a quarterly PCI Security Scan. Choosing a PCI-compliant payment gateway not only reduces security risks but also safeguards your business from potential fines, which could reach up to $500,000 per month for non-compliance.

  1. Embrace Flat Rate Pricing

5 Effortless Methods to Reduce Your QuickBooks Credit Card ExpensesTo secure the lowest QuickBooks credit card fees, opt for a payment provider offering flat rate pricing. This ensures a consistent, predetermined rate, providing transparency and predictability in your monthly processing fees. Steer clear of tiered pricing options, which often hide margin behind a seemingly low “qualified rate” while inflating the “non-qualified” rate. With flat rate pricing, you can process credit cards in QuickBooks at a fixed, affordable rate without worrying about additional transaction fees.

  1. Beware of Hidden Fees

Many processors may include hidden fees in contracts, hoping clients overlook them. Carefully review statements and contracts to select a provider that prioritizes your business’s interests. Look for providers with transparent features, such as zero setup fees, zero upgrade fees, zero maintenance fees, no early termination fees, free in-house customer support, and an experienced chargeback management team.

  1. Secure 24/7 Customer Support

In the business world, time is money, and waiting hours for customer support is a luxury you can’t afford. Seek a provider offering 24/7, in-house customer support, ensuring swift assistance whenever you need it. Having access to a live representative who can promptly address inquiries and resolve issues enhances customer satisfaction and minimizes disruptions to your business. Personalized support from a dedicated relationship manager can further contribute to securing the lowest QuickBooks credit card fees for your business.

QuickBooks credit card fees are an inevitable aspect for many small businesses. However, by implementing these five strategies, you can simplify payment acceptance and make credit card processing in QuickBooks more cost-effective. Contact Arlington Heights Merchant Banc for a complementary payment processing consultation.