QuickBooks Accounting Software Training Intuit Payment Processing Webinar Presented by: Bonnie Nagayama, CPA 925-247-0100 x 106 Bonnie@AccountingSoftwareSecrets.com Using GoToWebinar (Basics) To minimize (or expand) the control panel, click on the orange box with the white arrow. Choose Telephone (then the call in information will appear) or listen via your computer speakers Please submit questions via the Q&A box. Note all attendees are muted. (C) 2012 Bonnie J Nagayama, CPA 1
Using GoToWebinar (Full Screen) Click on the circle with the full screen icon (it switches to two windows if you want to switch it back) To switch to via the presentation via Full Screen: Expand the control panel, if necessary Click on View on the top menu Click on Full Screen Speaker Bio Bonnie Nagayama, CPA Founded McWilliams & Associates in 1992, exclusive Intuit focus since 1997 Clients are QB Professionals which we work with directly and via their clients Weekly Tips & Tricks Newsletter Monthly FREE Discussion Forum Premier Intuit Reseller Advanced Certified ProAdvisor Intuit s Trainer/Writer Network Member Intuit IPP Advisory Council Member Sleeter Group Consultant Network Member Sleeter Developer Advisory Panel Member (C) 2012 Bonnie J Nagayama, CPA 2
Speaker Bio Chad Galloway Sales Manager at Intuit, Inc Worked with Intuit since 2007 Channels supported -Intuit Reseller Program, ProAdvisor, Direct Direct and Indirect Sales with a strong emphasis in business to business consultation. Particularly interested in working with clients to get the right solutions for them to help grow their business and help achieve their goals. Always interested in finding the medium between what is the right solution for my client and what is right for my company. Reminder CPE credit is available for this course. The requirements are Be on the call at least 50 minutes AND Answer ALL three of the polling questions Your CPE certification will be emailed as a PDF in 2-3 weeks This session will be recorded and available after the session. Following the webinar, there will be a brief survey. We appreciate your feedback! On the survey you can also indicate your interest for more info. (C) 2012 Bonnie J Nagayama, CPA 3
Objectives Discover what is required when accepting credit card from customers Determine what additional safeguards you should have in place when accepting credit cards Explore how accepting credit cards can improve cash flow, increase efficiency, and more Agenda How accepting credit cards can improve cash flow What is required for PCI compliance Why processing credit cards through QuickBooks should be considered Why IPS versus other credit card companies Understanding credit card merchant fee pricing Other Tips and Tricks to improve efficiency Question & Answer (C) 2012 Bonnie J Nagayama, CPA 4
PCI Compliance What Is Required for PCI Compliance Payment Card Industry Data Security Standards (PCI DSS) Payment Application Data Security Standard (PA DSS) To reduce the risk of compromise and mitigate its impacts if it does occur, it is important that all entities storing, processing, or transmitting cardholder data be compliant. For more info: http://security.intuit.com/pci-dss.html and https://www.pcisecuritystandards.org/merchants/ (C) 2012 Bonnie J Nagayama, CPA 5
What Is Required: Merchant Compliance If you accept credit cards, you are required to be compliant. It is a: Continuous, Ongoing Process: Assess; Remediate; Report Multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. There are 12 general requirements designed to: Build and maintain a secure network; Protect cardholder data; Ensure the maintenance of vulnerability management programs; Implement strong access control measures; Regularly monitor and test networks; and Ensure the maintenance of information security policies. (C) 2012 Bonnie J Nagayama, CPA 6
PCI DSS Self-Assessment Questionnaire https://www.pcisecuritystandards.org/merchants/self _assessment_form.php 17 page PDF Instructions and Guidelines https://www.pcisecuritystandards.org/documents/pci _dss_saq_instr_guide_v2.0.pdf PCI DSS Self-Assessment Questionnaire Scan providers: Intuit has selected ControlScan It is included as part of the Merchant Account (https://merchantcenter.intuit.com) You go through and answer questions for all 12 areas of compliance. Once the questionnaire is completed, the service does a scan of your system. (C) 2012 Bonnie J Nagayama, CPA 7
You access from your merchant account login This is included as part of your annual PCI Compliance fee (C) 2012 Bonnie J Nagayama, CPA 8
Example of Report How can Credit Cards Increase Cash Flow (C) 2012 Bonnie J Nagayama, CPA 9
Credit Cards and Cash Flow Three things every business should know about Credit Card Processing Credit Cards and Cash Flow Three things every business should know about Credit Card Processing (C) 2012 Bonnie J Nagayama, CPA 10
Credit Cards and Cash Flow Three things every business should know about Credit Card Processing How much will Credit Card Processing cost? (C) 2012 Bonnie J Nagayama, CPA 11
IPS versus Other Companies We recently surveyed about 1500 QuickBooks customers, and of those who had switched from a competitor 79.9% said they saved on average 7 hours a month in bookkeeping activities. What could you do with that extra time to invest in your business? Intuit offers options on how you can process cards: Front Office, Back Office, Web store, and Mobile! API for developers, Intuit Partner Platform(IPP), authorize.net, etc. Comparative Savings With QuickBooks More efficient than duplicate data entry with terminal Decreases time spent reconciling deposits and entering bank fees Less time consuming than sending invoices, preparing statements, going to the bank, collection efforts, etc. Improved cash flow than waiting for payment (C) 2012 Bonnie J Nagayama, CPA 12
Understanding the Costs Transaction Rates are based on: Risk (swiped versus keyed) Cost (rewards, business cards, etc.) Credit Card Companies have hundreds of categories Intuit: Qualified, mid-qualified, non-qualified For IPS: The gross amount is deposited and the qualified fee is deducted for each day Monthly the additional fees are deducted https://merchantcenter.intuit.com/msc/portal/support#inf22741 (5 minute video) IPS Pricing Standard Pricing: http://payments.intuit.com/ Contact us for competitive pricing analysis Requirements: Last 3 months processing statements with all pages included 2-3 days to complete Monthly volume over $15,000 average (C) 2012 Bonnie J Nagayama, CPA 13
Intuit GoPayment Pricing: Stand-alone Low-Volume Plan Ideal for businesses processing less than $1,000 per month Qualified Rate: 2.75% Mid Qualified Rate: 3.75% Non Qualified Rate: 3.75% Monthly service: None Auth Fee: Qual and Mid-Qual: None Non-Qual: $.15 Monthly Minimum fee: None One-time set-up fee: None Cancellation fee: None Current Promotion: Up to 3 Free GoPayment card reader High-Volume Plan Ideal for businesses processing more than $1,000 per month Qualified Rate: 1.75% Mid Qualified Rate: 2.75% Non Qualified Rate: 3.75% Monthly service: $12.95 Auth Fee: Qual and Mid-Qual: None Non-Qual: $.15 Monthly Minimum fee: None One-time set-up fee: None Cancellation fee: None Current Promotion: Up to 3 Free GoPayment card reader Merchant Service for Point of Sale Product Benefits Process credit and debit card directly in QuickBooks POS Mobile Sync Functionality Intuit Payment Solutions is fully integrated within the software. Financial Exchange with QuickBooks Financial Software Processing with a 3rd party service means more steps, more time, and more risk for mistakes. Pricing Qualified Rate: 1.69% Mid-Qualified Rate: 2.80% Non-Qualified Rate: 3.99% Monthly service: $19.95 Auth Fee: Qual and Mid-Qual: $0.29 Non-Qual: $.36 Monthly Minimum fee: $0-$15.00 One-time set-up fee: $50.00 Waived for IRP clients Cancellation fee: None Additional Locations: $9.95 Current Promotion: $600 in Free Hardware *Customer must purchase a new or upgrade POS license and Merchant Services must be Approved to qualify. (C) 2012 Bonnie J Nagayama, CPA 14
Merchant Service for QuickBooks Product Benefits Take credit card & debit card payments right in QuickBooks Accept payments online, by phone, fax, or email. Eliminate manual double entry Includes GoPayment Intuit Billing Solution for QuickBooks Pricing Qualified Rate: 1.69% Mid Qualified Rate: 2.52% Non Qualified Rate: 3.96% Monthly service: $19.95 Waived for first 2 Months for IRP clients Auth Fee: Qual and Mid-Qual: $0.29 Non-Qual: $.36 Monthly Minimum fee: $0.00 Standard rate of $20.00 waived for IRP One-time set-up fee: $59.00 Waived for IRP clients Cancellation fee: None Web Store Add-on: $9.95 Current Promotion: GoPayment included! Up to 3 Free GoPayment card reader Merchant Service for Web Stores Products Available QuickBooks Merchant Service Authorize.net Products Benefits Multiple Processing gateways supported to allow for processing in most web store shopping carts One processing company for all processing needs QuickBooks users can sync transactions with no re-entry Works with or without QuickBooks (C) 2012 Bonnie J Nagayama, CPA 15
Merchant Service for Web Stores Products Available QuickBooks Merchant Service Authorize.net Products Benefits Single account Use one merchant account to manage multiple sales channels QuickBooks users can sync transactions with no re-entry Works with or without QuickBooks Pricing Additional $9.95 Monthly for existing customers Same Fees and Statement as their QuickBooks Merchant Service account Supported Shopping Carts: Homestead Go Daddy Web.com UltraCart IA Modules PDG Software and more Merchant Service for Web Stores Products Available QuickBooks Merchant Service Authorize.net Products Benefits One processing company for all processing needs Compatible with most shopping cart providers Processing statements can be downloaded into QuickBooks to ease in reconciliation Works with or without QuickBooks Pricing Merchant Account pricing is the Same structure as a QuickBooks Merchant Service account Authorize.net Pricing $100.00 Set up Fee $20.00 monthly gateway Access Fee $0.10 per transaction fee We can reprogram an existing Authorize.net gateway to process with an Intuit Merchant Account Gateway fees are in addition to merchant account fees (C) 2012 Bonnie J Nagayama, CPA 16
Other Efficiency Tips & Tricks Receive Payments in QuickBooks (automatic upon saving the transaction) Make Deposits (payments that are deposited together are marked as such) Download Bank Fees (automatically record the fees) QB POS GoPayment Etc. Objectives Review Discover what is required when accepting credit card from customers Determine what additional safeguards you should have in place when accepting credit cards Explore how accepting credit cards can improve cash flow, increase efficiency, and more (C) 2012 Bonnie J Nagayama, CPA 17
Q & A Q & A To minimize (or expand) the control panel, click on the orange box with the white arrow. Choose Telephone (then the call in information will appear) or listen via your computer speakers Please submit questions via the Q&A box. Note all attendees are muted. (C) 2012 Bonnie J Nagayama, CPA 18
Reminder CPE credit is available for this course. The requirements are Be on the call at least 50 minutes AND Answer ALL three of the polling questions Your CPE certification will be emailed as a PDF in 2-3 weeks This session will be recorded and available after the session. Following the webinar, there will be a brief survey. We appreciate your feedback! On the survey you can also indicate your interest for more info. Wrap Up Thanks so much for attending! Sign up for our free weekly QuickBooks Tips and Tricks email update filled with time saving suggestions for using QuickBooks more effectively. Bonnie Nagayama, CPA 925-247-0100 x 106 Bonnie@AccountingSoftwareSecrets.com (C) 2012 Bonnie J Nagayama, CPA 19
Appendix Application Requirements (C) 2012 Bonnie J Nagayama, CPA 20
Unacceptable Business Types (C) 2012 Bonnie J Nagayama, CPA 21