We previously told you about QuickBooks Payments and also advised you that Intuit was in the process of making payments available as part of the ProAdvisor Revenue Share offerings. Well, now, a select group of ProAdvisors can sign up their clients for QuickBooks Payments and earn 20% of net revenue from the payment processing fees for those clients for three years. In addition, those same clients can enjoy discount savings of up to 25% of their processing fees.
This is a limited offer, but the plan is expected to become generally available later this year. ProAdvisors and Accountants can apply for this 'trial' from the Settings page of QuickBooks Online Accountant. The primary admin of 'the ProAdvisor/Accountant firm' must provide information about the tax ID, Bank Account, and other W-9 form identification information. Application processing can take up to a week, with status information being available from the Payments revenue share item within QBO Accountant.
The ProAdvisor/Accountant firm can invite clients to sign up for QuickBooks Payments using the Revenue Share Dashboard in QBO Accountant if approved for this trial. When clients have finished their applications for QuickBooks Payments and have been approved, the ProAdvisor/Accountant firm will start earning revenue share on their payment transactions. Revenue sharing is payable to the ProAdvisor/Accountant firm, not individuals or firm members. All such payments are directly deposited into the firm bank account every month. If the firm receives $600 or more in revenue share funds, Intuit will issue a 1099-NEC for such funds.
The revenue share program, including revenue share for QuickBooks Payments, is subject to Intuit's extensive terms, conditions, and disclosures, which are too voluminous to reproduce here. Please see the information on this official Intuit Revenue Share website before making any decision(s) regarding your participation in this program.
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