Important things you need to know to understand about Square vs GoPayment

Carrie KahnQuickBooks Payments

As advisors, we want to make sure we get the best rates for our clients and at the same time make it easier for reconciliation.  We often hear complaints about how hard it is to reconcile the Square. What the Square does is takes the fee out making it very difficult to track down.

Did you know that GoPayment is now bundled with QB Payments?

As we continue to seek tools to enhance the business and profitability of our clients. One great tool that we have discovered is GoPayment. We love it because it is mobile and gives you the flexibility to ring up sales from any device. This allows you to work and run your business from anywhere, no longer are you tied to a desk or store location. One of the most well-known mobile payment options is Square. We are sharing our secrets and the time/money saving features that we have discovered when using GoPayment with QB Payments.


GoPayment uses your SWIPE rates. What is a SWIPE rate? When your physical card is swiped, a person is present, and the merchant can check ID and signature. There is more risk with a card, not present account. QB payments have simplified their pricing. There is no more tiered pricing or confusing rates; it’s simply swiped vs. keyed. These rates are for eligible for Visa, MasterCard, Discover, and American Express.


  • The rate for square is much higher than GoPayment
  • GoPayment uses your low swipe rate
  • View our comparison chart here


GoPayment is included with your QuickBooks payments account. There is NO additional fee or contract required. Since GoPayment now comes with your QuickBooks payment account, it all batches together automatically for you making reconciliation a breeze. It is much easier now to reconcile as the payments are now integrated and batched together to make deposits automatically in your bank.

Also, when GoPayment is used with QuickBooks Point of Sale for Desktop v12, it allows you to sell products that are in your inventory it syncs back and updates your master list. This is a new feature that not everyone has picked up on.


Many clients like to shop the rates and believe the rate at my bank is cheaper. Unless they look at the rates apples to apples they could be confused about what the actual rates and fees are they are being charged. When we bring up the conversation to add merchant services to client’s  account, most say that their rate at their bank is cheaper. 95% of the time this is not true! When clients learn the significant savings that the integration feature offers, even if their rates are slightly lower, the savings is tremendous due to the ease of reconciliation and reduction of errors as well as time saved by the bookkeeper.

In addition, Banks quote rates but fail to mention the hidden fees. They also make your clients sign a long-term contract, often with a termination fee if they cancel. QuickBooks Payments never makes your clients sign a long-term contract, there isn’t a termination fee for them to cancel, they make it easy to try and see the benefits without all the hassle of a bank.


  • Would my client benefit from QB Payments integration with their QB software? Square does not have integration so there is much more work with reconciling and potential errors.
  • Is efficiency and time savings a value to this client?
  • Does my client need phone support? QB Payments has phone support anytime.
  • Square does not offer phone support, you have to send an email request for support. Waiting 24 hours for an email response for a transaction that was processed and is not clearing into the checking account makes it difficult for a business to operate.

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