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PHI805
May 5, 2021
Question

Money missing

  • May 5, 2021
  • 1 reply
  • 0 views

I recently set up QuickBooks and a cash account to help keep organized. I accepted 3 payments from clients thru QuickBooks invoicing to be deposited into my QuickBooks cash account. These hung around for 7-10 days before I finally got an email this morning saying they were deposited. However, my cash account still has a zero balance. I need access to my business' money. Any help would be appreciated since there doesn't seem to be any customer support other than this.

1 reply

J
JIT612
May 5, 2021

I'm experiencing the same issue.

I just got an absurd response from Customer service explaining why it could take from 7 to 10 days to deposit our OWN money.

It's absurd because I deal with the same clients. They have deposited directly to me and funds are available the same day or next day.  This particular client chose the "convenient" link in the invoice to pay through QuickBooks... Obviously QB/Intuit is benefiting from the interest of our money they keep in their bank.

I've asked all my clients to avoid paying through QB.

AlcaeusF
AlcaeusF
May 5, 2021

Thanks for posting in the Community, PHI805 and JIT612.

 

For QuickBooks Online (QBO) Payments users, credit card payments typically deposit in about 2-3 business days. Bank Transfer (ACH) payment deposits can take 2-7 business days. Since you’re a new user, deposits will take a bit longer during your first month while we set everything up. Once completed, we'll deposit customer payments much faster.

 

You can check your deposit speed within your QBO account anytime. This way, you'll be able to track when Merchant Service reduces the processing time of the payments. Here’s how:

 

  1. Go to the Gear icon and select Account and Settings.
  2. Select the Payments tab.
  3. Review the Deposit Speed section.

 

You can visit these resources to learn more about payments deposits:

 

 

Feel free to post again or leave a comment below if you have any other concerns. I'm more than willing to help. Have a good one!

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