QuickBooks^® Request for Payment Invoicing

| 239 Shares | Tags: QuickBooks^® Real-Time Payments Request for Payments

Implementing recurring invoices, now known as "Request for Payment" (RFP), in QuickBooks Online (QBO) or QuickBooks Desktop (QBD) accounting software, utilizing texting, email, or digital communication for ACH, credit cards, FedNow, and RTP payments involves a few steps tailored to the capabilities of these platforms:

1. Setup in QuickBooks:

• Navigate to the "Customers" menu and select "Recurring Transactions."
• Choose "Invoice" as the transaction type and set up the recurring invoice details, including frequency and duration.

2. Customization:

• Customize the invoice template to include relevant information such as payment options, due dates, and contact details.
• QuickBooks allows for personalization, so you can add your branding and tailor the message according to your needs.

3. Communication Channels:

• Integrate QuickBooks with communication channels like email or texting platforms. QuickBooks allows you to send invoices directly via email from within the software.
• For texting, you might need to use third-party integrations that sync with QuickBooks or manually send texts using the information from QuickBooks.

4. Payment Options:

• QuickBooks supports various payment options including ACH, credit card payments, and others.
• Set up payment processing within QuickBooks for seamless payment collection. QuickBooks Payments is an integrated solution that allows for easy payment processing directly from invoices.

5. ACH Setup:

• For ACH payments, ensure you have the necessary bank account information stored securely within QuickBooks.
• QuickBooks Payments or third-party integrations can facilitate ACH payments.

6. Credit Card Processing:

• QuickBooks Payments or other integrated payment processors can handle credit card payments securely.

7. FedNow and RTP Integration:

• As of my last update, direct integration with FedNow and RTP Real-Time Payments may not be available within QuickBooks. However, you can manually record these payments once received.
• Ensure that your bank account linked to QuickBooks supports FedNow and RTP payments for seamless reconciliation.

8. Automation and Reminders:

• Utilize QuickBooks' automation features to schedule invoice delivery and reminders for upcoming payments.
• Set up email reminders for customers a few days before the payment due date to prompt timely payments.

9. Reporting and Reconciliation:

• Regularly reconcile payments received against the invoices issued using QuickBooks' reporting features.
• QuickBooks provides detailed reports that help track payments, outstanding balances, and overall financial health.

10. Customer Support and Assistance:

• QuickBooks offers customer support services to assist with any issues or questions related to recurring invoices, payment processing, or software functionality.
• You can also leverage community forums or third-party support services for additional assistance.

By following these steps and leveraging the capabilities of QuickBooks accounting software, businesses can effectively manage recurring invoices (RFPs) and facilitate payments through various channels, including ACH, credit cards, and others.