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the_tile_setters
the_tile_setters
March 10, 2024
Question

merchant service deposits

  • March 10, 2024
  • 1 reply
  • 0 views

I've had my business account set up with QB Merchant services for quite a long time now and I just had a customer pay me through that service. Under my account it says the deposit was funded on 3/8/2024.

But it's not showing up in my bank account. What should I   do next?   

1 reply

C
CamelleT
March 10, 2024

Don't you worry, the_tile_setters. I'm here to provide information about the deposit that isn't showing up on your bank account. 

 

When you use QuickBooks (QB) Payments to process transactions, payments made before 3 pm PT should be in your bank account within two business days. Payments processed after 3 pm PT may take another day, resulting in a deposit within two business days.

 

As you've mentioned, the deposit status was funded on 3/8/2024, so it's a success, and your money is on its way. However, remember that some banks will retain the funds after we deposit them. You can contact your financial institution to see if they require additional steps.

 

You can visit this link for more information: Find out when QuickBooks Payments deposits customer payments.

 

If payments are taking longer to deposit than expected, your funds may be on hold. 

 

Moreover, check out the bottom part of this article for detailed steps in manually recording bank deposits for QB Payments: Automatically record QuickBooks Payments bank deposits in QuickBooks Desktop.

 

Please comment below if you have other concerns about managing merchant service deposits. I'm always around to help. Take care!

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