QB Payments added to ProAdvisor rev sharing

Intuit's QuickBooks business announced that QuickBooks Payments is now a part of the ProAdvisor Revenue Share Program. This means that accountants who sign up clients for QuickBooks Payments can earn 20% net revenue on their clients' payment-processing fees for three years after signup, while their clients can take advantage of ongoing Payments discounts and save up to 25% on processing fees.

All U.S. QuickBooks Online Accountant firms are eligible to apply for the revenue share program. However, only the primary admin and full-access users can enroll a firm in the revenue share program. Revenue share is payable to the firm, not to individual employees or team members.

Before making the program available to the public later this year, QuickBooks said it is offering exclusive early access to a select group of ProAdvisors. Those interested in taking part should
Fill out an early access form with their name, email address and a few other details. Once QuickBooks verifies their eligibility for early access to the Payments revenue share program, they will send an email with instructions on how to apply.

When they get access, they can then invite clients to sign up for QuickBooks Payments right from the revenue share dashboard in QuickBooks Online Accountant. The clients will get an email to let them know their accountant has recommended Payments for them. Once they've applied for Payments and have been approved, they can begin accepting payments and the accountant can start earning revenue share for their transactions.

Clients aren't notified of a firm's participation in the revenue-sharing program. An Intuit spokesperson said that they don't notify a firm's clients because they want to give firms the choice to either disclose or not disclose to their clients their participation in this program. Firms can inform their clients about their participation in the revenue share program if they wish to do so.

To be considered eligible, a client must not have previously used QuickBooks Payments, must be a U.S.-based company, and must remain in good standing with Intuit, along with other criteria.

Revenue share payouts are determined by the net revenue share from the transactions the clients' process in QuickBooks Payments. Net revenue is calculated by the transaction fees that QuickBooks charges, minus the fees paid to our processing partners such as Visa, Mastercard, American Express and financial institutions. Participating professionals will receive a monthly payout via direct deposit for all eligible clients they've added through revenue share who accept payments with QuickBooks Payments. However, it may take a couple of months to begin receiving revenue share. Payouts only occur after the client begins paying and/or receiving payments.

Other QuickBooks products part of the revenue-sharing agreement program include:

• QuickBooks Online Simple Start, Essentials, Plus, and Advanced;
• QuickBooks Online Payroll Core, Premium, and Elite;
• QuickBooks Time.