Using Bitcoin With QuickBooks- Part 3: Paying Vendors

Intuit's QuickBooks Online has become the first cloud accounting system to allow small businesses to accept bitcoin payments, we're learning via a blog post sent to us by a company spokesperson earlier today. The California-based company's new PayByCoin service has been made possible through an integration between QuickBooks Online and Coinbase - a bitcoin merchant services provider and broker. For the small businesses using QuickBooks Online to generate their electronic invoices, PayByCoin comes as a free add-on, which is certainly convenient. Here's how the whole thing works, as....

Intuit adds BitPay to PayByCoin. Intuit andBitPay announced the integration of Bitcoin payments into the Quickbooks PayByCoin service. The integration will allow the company to offer the option of paying by Bitcoin to their customers. The integration also allows for next day settlement in their bank accounts as well. The quick deposit to their bank accounts will help companies avoid the volatility in the Bitcoin price yet still able to accept it. This type of protection will make Bitcoin more attractive to companies eliminating the risk of a large swing in value. Another excellent feature....

This is the first part of a multi-part series that will explain how to integrate Bitcoin as a payment method using your existing small business accounting software package.Why would you need to do this? In short, because accounting principles generally accepted in the United States and state and federal regulatory authorities require reporting in US Dollars. This procedure will allow you to properly account for the full extent of your Bitcoin sales and integrate those sales into your business records as if they had originally been made in your home currency. Since the vast majority of....

For years, Intuit has spent a large portion of its energy towards innovation. Intuit Labs, understandably, runs “Lab Experiments” to test and implement the newest innovations and technologies, package them into user-friendly software, and deploy them to small businesses around the world. Intuit Lab’s current “experiments” include a mobile POS solution called ShopOwner, a mobile application to ease waiting called Buzzer, and much much more. The newest of these projects, just announced today, is QuickBooks Bitcoin Payments. The Innovative team bringing QuickBooks Bitcoin Payments to life....

But only for vendors, so retail users will have to wait. Online payments giant and Cash App owner Stripe is stepping into a new realm of financial services for vendors.Per a Wall Street Journal exclusive on Thursday, Stripe is looking to offer customers bank accounts and debit cards. However, these financial products will be limited to vendors and merchants for now.The new initiative will also involve collaboration with banking giants Goldman Sachs and Citi, which is part of a broader push from both to incorporate online business services and new technologies. In 2015, Stripe was an early....