Can you explain the new ACH fees?

You will be subject to charges based on the transaction amount, Mag. I'd be glad to provide further information on this.

QuickBooks Self-employed (QBSE) customers with a payment account will be transitioned to the new standard pricing. For the new merchants, the standard ACH fee is 1% with no cap. However, existing merchants can benefit from a cap of $20 on the ACH fee. This means that for transactions below $2,000, you will pay 1%, and for transactions above $2,000, you will pay a flat fee of $20 per transaction. These pricing changes will take effect on August 1, 2024.

Additionally, once QuickBooks has downloaded your most recent transactions, you might want to consider categorizing the transactions that involve money coming in and going out of your bank and credit card accounts. For a step-by-step guide on how to do this, you can refer to the article: Categorize money transfers in QuickBooks Self-Employed.

If you require assistance with any query, don't hesitate to tell us. The QuickBooks team is committed to assisting you effectively in achieving your goals. Have a good one, Mag.