If you’ve stayed with QuickBooks for a long time, you may still be enjoying the desktop version of the software for your business. Ready or not, that will now have to change as the wildly popular accounting software is sunsetting its desktop version in favor of only offering QuickBooks Online, the cloud-based app. At once a good business decision on the part of QuickBooks, it is also better and more useful for most businesses too. Cloud-based software for business is pretty much established as the norm, and any of the Best Credit Card Processing Companies offer integrations with a range of cloud-based tools that make your business stronger. Here’s what the QuickBooks change means, and why there isn’t much to be afraid of.
At base level, if you’re a QuickBooks lover, not much should have to change. It’s still the same software, and migrating your data over should be easy. The main reason all businesses need to migrate their QuickBooks activity over to the web-based version is to ensure that your customer information remains secure. The desktop version will stop updating its security features, leaving data vulnerable. You’ll also not be able to get any necessary support or troubleshooting service from the Intuit QuickBooks team. By extension, you’ll be able to immediately enjoy any and every updated version of the software, right when it becomes available because you’re logging on to the centrally controlled cloud-based platform. In short, it’s far more effort than it’s worth to stay back on the desktop version.
In addition, if you’re new to QuickBooks Online, you’ll be able to see a number of benefits right away. Probably most useful is the ability to log in anywhere, anytime to your business and get the info you need. This is a game-changer for businesses with multiple locations, or with a certain degree of business done on the go. It means you have the power to upload pictures of receipts from anywhere, keeping your processes streamlined. Probably most convincing of all, QuickBooks Online allows for simple integration with Moolah or any of the best credit card processing companies, enabling you to enjoy easier reconciling and eliminating large amounts of manual data entry.
This change is one small drop in the sea change of business software, which has seen a tidal wave of new digital solutions available to businesses, most of them cloud-based. It works better in many ways for businesses. First of all, the upfront cost is less. In the PC era, you might have had to throw down $300 or more for the latest version of a program, and when a new version became available, you had to buy that one to get the benefits. As we already said, going cloud-based ensures that you’re running the most recent version, which means your business is safer, and benefitting from all the most recent features. With cloud-based, your business is open to a range of powerful tools and features that makes your business stronger.
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A credit card surcharge is an additional fee added to a transaction when a patient chooses to pay with a credit card. The surcharge is intended to help offset the cost of credit card processing and applies only to eligible credit card transactions.
No. Debit card transactions may not be surcharged under any circumstances, even if the debit card is processed as a credit transaction or entered manually.
Yes. Credit card surcharges may not exceed the merchant’s actual cost of accepting credit cards and are capped at a maximum of 3% of the total transaction amount, in accordance with card-network rules and applicable law.
Yes. Card networks require clear and transparent disclosure of any credit card surcharge. Practices must notify patients through appropriate signage at the practice entrance, point of sale, and anywhere payments are accepted. If payments are accepted online, the surcharge must also be clearly disclosed on the practice’s website.
Yes. Some U.S. states and territories prohibit or restrict credit card surcharging. Practices are responsible for understanding and complying with their state’s specific requirements before implementing a surcharge.
No. While Moolah provides tools and general guidance to support credit card surcharging, compliance with all applicable laws and card-network rules is the responsibility of the merchant. Moolah does not provide legal advice and assumes no liability for a merchant’s compliance.
Most major credit card networks permit surcharging when done in accordance with their rules, but additional requirements or restrictions may apply. Practices should ensure they have completed all required network notifications and disclosures prior to enabling surcharging.
Failure to comply with surcharging rules may result in card-network fines, required refunds, or other enforcement actions. Practices should ensure they fully understand all applicable requirements before applying a surcharge.
Flex does not currently offer built-in support for credit card surcharging. If a practice chooses to enroll in a surcharge plan, payments would need to be processed through Moolah’s payment platform, which is designed to support surcharging and integrates directly with Open Dental.
If you are considering introducing a credit card surcharge for your patients, it is important to understand that there are specific rules and regulations that must be followed when enrolling in and operating under a surcharge plan.
This article provides a general overview of common surcharging requirements. This content is provided for informational purposes only and does not constitute legal advice. It is the responsibility of each merchant to review, understand, and comply with all applicable laws, card-network rules, and regulatory requirements, including notification timeframes, signage requirements, surcharge percentage limits, and jurisdictions where surcharging is prohibited.
If you are unsure about the laws or regulations applicable to your practice, you should consult with qualified legal counsel. Moolah assumes no liability for a merchant’s compliance or non-compliance with credit card surcharging rules or regulations.
Transparent Communication
Card networks, including Visa, Mastercard, Discover, and American Express, require merchants to clearly and transparently disclose when a credit card surcharge is applied.
Practices must clearly notify patients of a credit card surcharge through appropriate signage placed at the practice entrance, at the point of sale or terminal, and anywhere payments are accepted. If payments are accepted online, surcharge disclosures must also be clearly visible on the practice’s website. All disclosures must inform patients that the surcharge applies only to credit card transactions.
Surcharge Limits
Credit card surcharges must comply with both card-network rules and applicable law. The surcharge amount may not exceed the merchant’s actual cost of accepting credit cards and may not exceed 3% of the total transaction amount.
Card-network rules cap credit card surcharges at 3%, meaning that if a merchant’s processing costs exceed this amount, the excess portion cannot be passed on to the patient.
Network and State Restrictions
The major credit card networks, such as Visa and Mastercard, impose specific requirements related to surcharge limits, advance notification, and disclosure.
In addition, several U.S. states and territories regulate or prohibit credit card surcharging. At the time of writing, credit card surcharging is prohibited in Connecticut, Maine, Massachusetts, and Puerto Rico. Other states, including Colorado, Minnesota, Mississippi, New Jersey, and New York, impose restrictions on surcharge amounts or require specific disclosures.
If your practice operates in a state that restricts or prohibits credit card surcharging, you must fully understand and comply with those requirements before implementing a surcharge.
Debit card transactions may never be surcharged, even if the debit card is processed as a credit transaction.
Applicability
Credit card surcharges may be applied only to credit card transactions. Other payment types, including debit cards and alternative payment methods, are not eligible for surcharging.
Regulatory Compliance
Merchants are responsible for maintaining ongoing compliance with all applicable card-network and legal requirements. This includes meeting advance notification obligations, using compliant signage and disclosures, adhering to surcharge percentage limits, and respecting jurisdiction-specific restrictions.
By following these guidelines, dental practices can implement credit card surcharging in a way that aligns with card-network rules and promotes transparency with patients. Clear and upfront communication helps maintain patient trust and supports a positive payment experience.