Integration with Square

You can import data as Sales Receipt from Square POS. Otherwise, you have to purchase a 3rd party connector.

Hi NicoleLynnC,

Welcome to Community!  QuickBooks Online lets you connect to the Square app, so your sales transactions can be automatically imported.  Once the items have been imported, QuickBooks will automatically categorize them and match them to your bank.  This simplifies your work, and all you need to do is review and approve the transactions.  For your reference, here's a detailed guide to assist you with common questions about connecting your Square account with QuickBooks Online.

Should you require additional assistance, please don't hesitate to contact us outside of Community.  It would be a pleasure to work with you in real-time, and assist you with accomplishing your QuickBooks goals without delay!

Feel free to reach back out with other questions.  We would be happy to help!

Unless, of course, you run something like a coffee shop with hundreds of small transactions. The Connect to Square app will only INCREASE your work, not reduce it. I promise. 

what do you mean by that? We're just going through this now

The Basic Square integration will upload every transaction you do a the POS into your quickbooks. It’s not a summary of the day that you can break down into taxes/fees/etc. The result (for us) was that it bogged down our system with hundreds of transactions per week and created a bit of an administrative headache. Matching the ‘payout’ to your Square transactions was too much of a hassle to deal with.

We keep our record-keeping separate between QBO and Square, since we do wholesale transactions via QBO. 

We reverted to creating a journal entry template for daily payouts from Square that breaks down gift-cards, taxes, fees, refunds, taxes on gift card loading, gift card payments, etc. It’s a daily annoyance, but seems way more simple than trying to reconcile the Payout to Hundreds of transactions. 
Lastly: I’m not a bookkeeper or an accountant. It may be that somebody else has figured out how to do this more simply, but I have not yet found that solution. You can pay a third party app that will grab your transactions, summarize them and spit out a daily report, but they FOR ME they were too expensive and too difficult to set up properly (especially when Canadian Taxes are involved). 

Apparently the US version of QBO<->Square integration has a summary option but QBO seems to ignore these sorts of things in Canada.