Settling Transactions
Although your credit card transactions are authorized immediately, funds are not transferred from the cardholder's account to yours until the transactions are "settled." With a QuickBooks POS Merchant Service account, you can send each day's Merchant Service batch to the processor for settlement as part of the End of Day procedure or you can send batches manually multiple times per day. Once settled, transaction funds are deposited into your account, less the merchant discount fee. Important: You must send your credit card transaction data to the processor within a day of authorizing the transactions to avoid paying a penalty.
Note: Settlement Batch Transaction Limit
A credit card settlement batch is limited to 500 transactions or a total dollar amount of $999,999.99. If you reach either of these limits before settling, QuickBooks POS does not allow any more credit card transactions until settlement is completed.
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