Quickbooks Desktop and online payment system

Started by ConchoP • 9 replies • 868 views

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ConchoP
Posts: 208

Posted:

We currently use quickbooks desktop pro. We would like to offer homeowners with a emailed invoice and online payment system. The online payment system would need to be a link on the website that then takes them to a secure area. Any recommendations?

BenA2
Posts: 1,272

Posted:

I believe the only way to do that is to use Quickbook Payments. Then there would be a "pay now" button on the email. I believe their rates are competitive and you would be able to accept credit card and ACH payments.

If you use a merchant service other than QB, I don't think it will allow you to put a link on the email or invoice. You could put a message on the invoice referring members to your website.

MelissaP1
Posts: 13,734

Posted:

Keep in mind your HOA may have to add an additional charge for this option. I know that if I pay online my waterbill they charge me an extra few dollars. So is your membership okay with this option and paying for it if needed?

Former HOA President

CathyA3
Posts: 6,286

Posted:

** puts on her IT Security Person hat and adjusts it to a jaunty angle **

One thing you need to give a hard look at is online security. Banks and other financial institutions have top-of-the-line security on their systems, and even they have to worry about getting hacked. An HOA's system may or may not have the same level of security. The only thing you *may* have going for you is that you'd be too small a target to be bothered with.

My take on it is this:

Most people's banks already offer (free) on-line bill payment systems, so an HOA would not be offering anything that they don't already have. In addition, the HOA would be taking on a new liability risk to do so, so you would need to talk to your insurance agent to make sure you're properly insured. When we considered something like this, it boiled down to added risk for the association and higher insurance premiums with little to no benefit to our homeowners - so we decided to leave it to the pros.

Your mileage may vary.

SteveM9
Posts: 3,688

Posted:

Quote:

Posted By MelissaP1 on 02/25/2020 4:55 AM
Keep in mind your HOA may have to add an additional charge for this option. I know that if I pay online my waterbill they charge me an extra few dollars. So is your membership okay with this option and paying for it if needed?

Membership doesn't need to be "Ok" with the fee. That would be up to the individual owner to decide if the fee is "ok" with them. And they could decide every month if they want to pay the fee. Sometimes they will, sometimes not. Some people might want the credit card miles/points or use a visa gift card, or whatever.

SteveM9
Posts: 3,688

Posted:

Quote:

An HOA's system may or may not have the same level of security. The only thing you *may* have going for you is that you'd be too small a target to be bothered with.

No such thing as too small anymore. Hackers use automated robots to find websites to hack, take over and steal databases.

BenA2
Posts: 1,272

Posted:

Passing on the electronic payment fees is an issue with Quickbooks. The software will not allow you to do it automatically, as far as I know. We is ask the people to contact the office if they want to pay electronically and then we change the invoice to include the card. Personally I think it is better to eat the fee as a cost of doing business, if you can. Our collections have gone way up since accepting credit cards.

Security is not a big issue. Whether you use Quickbook Payments or any other merchant services, they are regulated and are responsible for security. The only time the HOA would ever have access to the credit card or bank account numbers would be if they enter them manually, in which case the numbers should never be kept.

ConchoP
Posts: 208

Posted:

We are not passing on the fee at this time. We just want something that will sync with Quick books so the payment is recorded automatically crediting the homeowners account. We have a very large HOS 350 homes,and manually entering in payments and going to the bank to make deposits takes alot of time.

MarkA8
Posts: 1

Posted:

We let owners pay online via PayPal. We get an email with their account number, name, and payment amount. Makes it much easier to track payments.

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