The QuickBooks application is a leading accounting software for its user-friendly interface and efficiency. Its advanced features assist in managing payroll, bookkeeping, comparing bank statements, and much more. Recently, the QuickBooks application presented a new feature called instant deposit that helps users control their regular costs and make instant payments. However, sometimes users face some issues while making deposits, and they confused about why is QuickBooks instant deposit not working.
There are many factors responsible for QuickBooks instant deposit not working. Since this feature enhances business performance, it is crucial to fix this issue as soon as possible. In this article, we will explore solutions and reasons why QuickBooks instant deposit is not working.
QuickBooks Instant Deposit - An Outline
By launching this useful instant deposit feature, active QuickBooks Payment account users can efficiently deposit clients' payments. Also, it assists those users in better supervising regular costs like payroll, inventory purchases, utilities, and other routine expenses. Besides this, they should not wait one to three business days to access their funds.
Instant deposit users can choose to get their funds immediately in a single step after checking deposit details like the connected debit card, available balance, and relevant feeds. Also, users can now open and access a new Instant Deposits account, making it easier to reconcile any new updates automatically.
All U.S. clients of QuickBooks Desktop 2022, along with Pro Plus, Premier Plus, QuickBooks Desktop Account, and all QuickBooks Desktop Enterprises Solutions versions, have access to this feature if they operate an active QuickBooks Payments account.
When is the QuickBooks Instant Deposit Not Working?
Before fixing the issue, it is necessary to discover which things are responsible for the QuickBooks instant deposit not working issue. Besides this, knowing the causes can assist you in detecting which solutions are effective to eliminate this issue from your system. Here are some of the reasons you must be aware of as a QuickBooks user:
- When you do not notice any options to make an instant deposit, your instant deposit may not work correctly.
- If the instant deposit performance is slow, that can be the reason why QuickBooks instant deposit is not working.
- One of the primary factors is that the instant deposit is not working if the instant payment is unsuccessful.
- If the payment is not eligible for instant deposit, then it can be one of the reasons that the instant deposit in QuickBooks is not working.
- Encountering problems with the Web Browser can also be one of the factors that your instant deposit is not working.
- Having issues with the QBO applications prevents the operation of instant deposits.
- When the clients make their payments between 2 PM and 3 PM, then it is possible that the instant is not working correctly.
Steps to Take If You Do Not See The Instant Deposit Feature
First, you will need to sign up for QuickBooks Payment to access instant deposits for the client's payments you process in the QuickBooks application.
However, you must confirm first that you are an eligible QuickBooks Payments user to sign up for instant deposits since you have to be an eligible QuickBook Payments user. After that, you will notice a notification if you are a qualified user of QuickBooks.
After setting it up, eligible transactions will remain available for instant deposits since not all transactions are considered eligible. QuickBooks reviews every payment for eligibility and only reflects eligible payments as part of your available funds.
Reasons You Notice Unexpected Charge for an Instant Deposit
Instant deposit fees are 1.75% of the overall deposit amount. This charge is extra to the standard fees for processing clients' payments.
There are many causes that you have unexpected charges, here we are going to explain in detail:
- The charge is the extra 1.75% for the bank transfer payments. This imposed applies to both instant and standard deposits.
- If another user who already processes your client's payments can ask for an instant deposit, you have to pay the extra charges as a QuickBooks payments user.
- You scheduled eligible payments in your available balance for immediate deposit. Generally, scheduled deposits run automatically.
However, you can stop instant deposit from running automatically by following this process:
- First, enter the Setting option and choose Account and Setting.
- Now, click on Payments and press the Deposit Speed section.
- press the Change and click on the Schedule Instant deposits.
- Then, remove the tick mark for days to stop the automatic instant deposit for those days.
- Lastly, go to the Save Schedule option and click it.
Why Do Users Have Unexpected Available Balances for an Instant Deposit?
Client payments become part of the available balance while they are processed for an instant deposit. There are many reasons for not noticing anything in your available balance, which follows below:
- If you have not processed client payments for the day, you may notice an unexpected available balance.
- When the client's payments are not eligible for instant deposits, you would not see anything in the available balance because ineligible charges are not included as part of your available balance.
- If you already exceed your daily amount limit or have already used instant deposit five times, then it is possible to have an unexpected available balance.
- Under reviewing the processed client's payments, one of the reasons that users see unexpected balances in QuickBooks.
- Your available balance is batched and deposited at the average speed after 3 PM PT. You must wait until you process new client payments to access an instant deposit.
Instant deposit is one of the most valuable features recently launched through the QuickBooks application. Active QuickBooks Payments users can quickly deposit clients' payments through this feature and assist them in better managing daily expenses like payroll, inventory purchases, etc.
However, sometimes users face issues while using instant payments, so they are confused over why QuickBooks instant deposit is not working. However, implementing some simple and effective methods can eliminate this issue, which we have learned through this article.