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Recurring payments vs. Recurring Invoices with AutoPay
How is Recurring payments different from Recurring Invoices with AutoPay? Are customers required to create a QBO account to set up recurring payments?
Recurring Payments and Recurring Invoices with AutoPay both schedule regular charges but differ in handling payments:
- Recurring Payments: This process automatically charges a customer's credit card or bank account on a pre-agreed schedule. Both payment amount and frequency are set in advance with minimal customer involvement after initial setup. Customers don't need a QuickBooks Online (QBO) account, as the business owner or accountant can handle setup using stored payment details.
- Recurring Invoices with AutoPay: This system auto-sends regular invoices to customers who can opt for AutoPay. AutoPay charges the full invoice amount to the customer's preferred payment method on the due date. Note that any changes to the invoice amount by the customer will disable the AutoPay option. Additionally, customers must have an Intuit account to use the AutoPay feature.
I hope this explanation clarifies the differences and helps you choose the option that best suits your needs. Feel free to revisit this thread if you have any more questions, Deb. We are here to help.