QuickBooks POS Merchant Service

A: You have two options:

1. You can set up your QuickBooks POS Merchant Service to submit transactions over the Internet—eliminating the need for a separate phone line.
2. You can submit transactions directly via a modem.

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A: Typically, transactions are fast and take only seconds.

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A: Funds are usually deposited into your bank account within 2-3 business days.

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A: A "card not present" transaction is one where the credit card is not physically processed by a card reader. In cases where the credit card is not physically present or the magnetic strip cannot be read, simply key enter the credit card number, expiration date, and the cardholder's ZIP Code. QuickBooks POS Merchant Service then proceeds with authorizing the transaction.

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A: Founded in 1999, Innovative Merchant Solutions (IMS) offers a full range of merchant services to small businesses nationwide, including credit and debit card processing. Intuit Inc. acquired IMS in order to provide a better experience for merchants and their customers.

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A: To contact IMS, click here.

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A: QuickBooks POS Merchant Service can accept credit card payments from your e-commerce Web site, but these transactions must be keyed into the QuickBooks POS Merchant Service software for processing. Transactions keyed into the software will be charged a higher rate than swiped transactions. Please refer to the Pricing Information section for a complete listing of rates and fees.

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A: An ISP connection makes accepting credit and debit card payments fast and easy to configure. A constant (always on) internet connection, usually cable or DSL, is recommended.

To select your connection preference, go to the Company Screen, select Company Preferences, and click on Communication Setup under "Merchant Service."

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A: Your fees are debited from your current checking account, as determined by the actual charge. Discount rate and transaction fees are calculated and debited daily. All other fees are also subtracted at the end of the month.

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A: When QuickBooks POS Merchant Service is used in a multi-workstation environment, typically the modem or IP connection used to request and receive authorizations from the processor will be Workstation Number 1.

All credit and debit card transactions, whichever workstation they are performed at, will be processed through Workstation Number 1.

When multiple requests occur at the same time, they'll be processed in the order received. For direct-dial connections, the program will try to complete any queued requests during the same connection to the processor, thus eliminating the need to dial out on the modem for each request.

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A: If you use QuickBooks POS Merchant Service, you cannot place a receipt on hold once a credit card or debit transaction has been authorized for the receipt. In the case of a credit card receipt, you can void the credit card payment and then place the receipt on hold. Debit receipts can never be put on hold once authorization has been received.

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A: QuickBooks POS performs an Address Verification Service (AVS) check on all credit card transactions that are entered manually. The service checks if the customer's Zip Code matches the address currently on file at the cardholder's bank and alerts you if there is a mismatch. The results of this check are strictly for your information; the transaction can still be authorized. If you suspect credit card fraud, you should consider canceling the transaction. (See the preference note below to specify how you want to handle this situation.)

1. Preferences: Address Verification Service (AVS) PREFERENCES –> COMPANY –> CARD SERVICES –> Address Verification Service (AVS) mismatch options: Specify how you want to handle AVS mismatches:
2. Ignore mismatch and complete transaction (lowest level of fraud protection),
3. Alert me, but allow transaction, or
4. Do not allow transaction (highest level of fraud protection).

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A: Visa, MasterCard, American Express, and Discover® Network are accepted. PIN Debit cards can also be accepted. To benefit from the lower rates, you will need a PIN pad.²

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A: IMS, like most processors, funds credit card sales in 2-3 business days after a batch has been closed. Funding can take longer when sales batches are closed after 7PM ET or on weekends or holidays.

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A: There really is no money until the interchange process has been completed. Once interchange has occurred, the funds are sent to Innovative Merchant Solutions (IMS) for review by the Risk Management department. Should questions arise concerning a batch, that batch may be held until the questions are resolved. When funds are delayed, they are placed into a non-interest bearing account with the sponsoring financial institution until they can be released to the merchant. IMS does not profit from delaying merchant deposits. Fraud prevention processes help protect merchants and IMS from potential fraud and losses. Once the merchant?s bank receives the funds from IMS, they make it available to the merchant according to their individual funding policy.

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A: If you batch and settle your transactions before 7PM ET, the proceeds from those sales will typically be deposited into your account one day earlier than if you had batched them afterwards.

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A: You have two options:

1. You can set up your QuickBooks POS Merchant Service to submit transactions over the Internet—eliminating the need for a separate phone line.
2. You can submit transactions directly via a modem

The choice is yours.¹

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A: A "card not present" transaction is one where the credit card is not physically processed by a card reader. In cases where the credit card is not physically present or the magnetic strip cannot be read, simply key enter the credit card number, expiration date, and the cardholder's ZIP Code. QuickBooks POS Merchant Service then proceeds with authorizing the transaction.

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A: A business checking account is preferred; however, if you do not have a business account, a personal account that is primarily used for the business and is in the owner's name is acceptable. Your bank must allow this account to be credited and debited via electronic funds transfer.

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A: Yes, you can have your credit and debit card payments deposited into any bank account that accepts electronic funds transfers. Funds are deposited from your merchant account into your existing bank account.

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A: You will need to apply for a separate merchant account for each location, although you may choose to get a consolidated merchant account statement with the QuickBooks POS Merchant Service. Credit approval is required for each location and purchase of QuickBooks Point of Sale Pro Multi-Store software (available for purchase separately) is recommended.

A: Visa, MasterCard & Discover Network associations require each merchant location accepting their credit cards to have a separate merchant account. Separate merchant accounts also help reduce the possibility of chargeback to you by increasing the accuracy of processing and reporting to the card holder. The City and State you specify on your merchant account application is part of the transaction description that shows up on the card holder's statement. In the event that the card holder purchases items from a location city that is not the one on your merchant account record, he/she may not recognize the transaction thus resulting in a chargeback to you.

A: You may apply for each merchant account by using our online application or by calling a sales representative at (888) 373-7563.

If you have already applied for or have been issued a merchant account for your primary store location for less than six months, you may qualify to apply for merchant accounts for other store locations of the same business type (SIC code) by sending in the Multiple Location Addendum form. To download the form, please click on the link above and save to your computer. Subsequently print, complete, sign, and fax the form along with any necessary artifacts (if specifying different bank deposit accounts you would need to fax in a bank letter and an imprinted check) to (818) 936-7898, Attn: Data Entry Department. If you do not receive a confirmation of receipt from IMS within 48 hours, please call us at (800) 558-9558.

A: You will receive a QuickBooks Point of Sale Merchant Service statement every month that summarizes monetary batches, bank deposits, and fees for your review. You can also view your statements online from any computer³, 24/7⁴ for free through the QuickBooks Point of Sale Merchant Services Center. You'll have access to 6 months of sales and deposit history and can download instant and reliable records for your files. To get started, create a login by going to https://merchantcenter.intuit.com/posms.

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